AMERICANS HAVE TO MAKE HARD DECISIONS WHEN IT COMES TO SHORT SALE OR NOT THEIR HOME
Experts state that there are over 11 American households under water when it comes to their mortgage. Also, 7 out of 10 people that have experienced a foreclosure never contacted a professional Realtor to assist them. I believe we all want to do the right thing. However, we have to admit things have changed dramatically in America
- National unemployment rate just under 10%
- 118 banks have been closed of August of 2010
- Issues with Fannie and Freddie moving forward
- America still at war in the Middle East
- Overall economy growing very slowly compared to other years
- Banks continue to foreclose on homes at record pace
- Loan modification program not working for troubled home owners
- Presidents overall popularity with Americans has dropped to 41% in favor
www.ArizonaShortSaleAndBeyond.com
We all had an Etch A Sketch when we were children. Heck, my own kids have an Etch a Sketch. The purpose of this game was to draw a picture. Then, we could shake it up to have a blank screen to draw another picture. Many people who I have consulted wish it was only these easy. We have Americans hurting financially at the present time. They are too embarrassed to receive assistance because they believe everything will be OK. HOPE is not a game plan. The home owner upside in their current home only has the following choices at the present time:
- Keep the present home and ride out the market
- Loan modification
- Short Sale
- Deed In Lieu Of Foreclosure
- Foreclosure
Real estate is a team sport. I would advise home owners to consult with the following professionals to obtain needed information to make an informed decision when considering to short sale their home:
- Realtor
- Mortgage professional
- Certified Financial Planner
- Real estate lawyer
- Certified Public Accountant
- Credit restoration professional
I believe the Seller needs to collect all the information from the following experts to make an INFORMED decision for their family. It really is a personal decision since each short sale has its different hardships. Yes, Americans are forced to make the tough financial decisions. I just want to let everyone know that they are not alone in their pain. Reach out to local professionals in order to gain vital information in order to bounce back financially down the road. We will all get through this together.
CONTACT HARRY FOR MORE INFORMATION
Make the Call, Set the Plan, Do the Deal$!
Feel free to listen to my Radio Show to learn more about the phoenix real estate market, new trends, and the latest opportunities. The Real Estate and Beyond Radio Show Airs every Saturday from Noon-2:00pm on Conservative Newstalk KKNT 960am in Phoenix, Arizona. You can listent to past shows, or stream on-line.
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It's a difficult decision for some, and in some cases the people are better off staying in the home.
It is all in the numbers-people have to make informed decisions
It seems that older Americans are more traditional by continuing to make their mortgage payments. It was they way they were brought up--pay your bills. It seems the younger Generation can justify it in their minds to walk away from their home.