Tag Archives: underwater

Selling an Underwater Mortgage

Posted on January 18, 2012 by Realty Executives

If you put less than 15% down on a recent purchase, there’s a good chance that you owe more than your property’s current value. It’s a tough spot to be in—and tougher if you want to sell. But despite the … Continue reading →

Posted in Finance, Foreclosures & Short Sales, Homeowners and Sellers | Tagged home improvement, mortgage, negative equity, short sale, under water, underwater | Comments Off

Should you Stay or Should You Go: Answer This Before You Walk Away

Posted on October 21, 2011 by Realty Executives

Before you decide whether to try for a short sale or walk away and face a full foreclosure, ask yourself if you really want to leave the home at all. You might wind up saving your time, your credit, and possibly even a lot of money. Your situation will always be unique, but answering one quick question will help you decide how to proceed when your mortgage is causing problems.

Why did you buy?

This is the single most important question you can ask when facing a property loss, because it sets the tone for everything that comes next. Did you hope for a quick flip to cash in on rising prices or home improvements? Was it a long-term investment designed to provide income and stability decades down the road? Or was this a primary home for yourself and your family? Continue reading →