Economics of a Short Sale and Why it WORKS
How California Laws, Give Underwater Borrowers: The Way to a Better Housing Future.
Let's face it—owning a home that's worth less than what you owe— is not what anyone expects when they buy a home.
To make matters worse, even with this strong housing recovery, the average negative equity borrower in California, is seven to ten years away, from just being able to sell their house and pay-off their mortgage.
According to the most recent, Federal Reserve Home Price Index [HPI—June, 2013], the average underwater homeowner is still, holding their breath, at 28 percent below sea-level.
This means, if your home has a $300,000 mortgage, and it's an average underwater house, it would sell for $215,000 today.
When you deduct $15,000, that it costs to sell that priced home, that leaves $200,000.
To pay the mortgage, closing costs and have $1.00 left over, you would have to sell this property for $321,000.
At a very optimistic, 7 percent annual appreciation rate, it will take 85 more monthly mortgage payments, for the owner of this house to walk away with just $1.00.
Economics of a Short Sale and Why They Work !
You can also be eligible to receive $3,000 from the Federal H.A.F.A.® program.
So instead of subsidizing a mortgage that gives you no financial return for more than 7 years; you can sell your home, and soon after, find an affordable home that already has positive equity.
With the new mortgage guidelines that were recently approved, you can be eligible for a lower rate mortgage in just 12 months.
At YourHomeStrategy, we'll help you analyze your current home metrics objectively and see if you qualify for a short sale.
If you determine a short sale is right for you, we'll complete it successfully and it costs you nothing.
We will also help you purchase your next home, if you would like and we will pay up to $5,000 in closing costs.
Simply fill-in the form, there is no obligation.
Find out the real differences between a short sale vs a foreclosure.
And how each will impact your future.
YourHomeStrategy, is not only the industry leader in helping borrowers short sale their homes, but we also offer the best home buying experience—and we'll pay up to $5,000 in closing costs.
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