If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
According to the latest news reports, nearly 11 million homeowners are underwater on their current mortgages.
What does underwater mean? It means that the homeowner owes more on their home’s mortgage than they are worth. What is a homeowner to do? What are the choices for a homeowner?
Some people are just walking away from their homes and allowing the bank to foreclose. Some people ( if they are young enough) figure that they have many years to reestablish their credit.
Others are hoping for a loan modification with their lender where the lender lowers the interest rate.
According to US News and World Report, there are several options to consider. However, before walking away from your mortgage, you should always consult with a financial advisor or a tax consultant to weigh all of your options. If the lender allows a short sale, you may be responsible for taxes on the forgiveness amount.
Renee Infinger, Realtor/Broker
704 609 4241
www.reneeinfinger.com
www.soldonweddington.com
renee@reneeinfinger.com
IF YOU OR ANYONE THAT YOU KNOW HAS MILITARY EXPERIENCE, ASK ME HOW YOU MAY RECEIVE ADDITIONAL BENEFITS AS A BUYER OR SELLER !!!
No related posts.
About Renee
I am a full time Realtor living in Weddington, NC. I have always lived in either North or South Carolina. My family and I moved to Charlotte in 1986 from Columbia, SC.
I re-entered the real estate profession in 2001. Real estate has been very rewarding and I have made some long lasting friends through various clients. I work with buyers and sellers, Relocation clients and new construction sales. One of the best parts of real estate, is seeing the faces of first time home buyers as they close on their homes.
I am the mom of 2 grown children, Zach and Allison.
I believe in our current real estate market, it is very important to continuously keep up to date on all of the changes. With 1 in 7 homes currently in foreclosure or distress in our country, I have taken classes on short sales and foreclosures. I am a CDPE ( Certified Distress Properties Expert) along with being an ABR ( Accredited Buyer's Representative) and a CRS ( Certified Residential Specialist).
