surviving foreclosure: Bankruptcy – a Viable Way Out of an Underwater Mortgage?
- 04/03/12 12:10 AM
The current economic and housing situation has left many homeowners wondering ‘just how low can it go?” For those who bought their homes when the housing market was at its peak, the resulting downturn in the economy and subsequent collapse of the real estate market left many homeowners with negative equity on their purchase. An underwater mortgage is a situation in which a borrower owes more money on a property than the property is actually worth on the open market. While there are several reasons this can happen, the negative correction in the market left many people reeling in debt when … (0 comments)
surviving foreclosure: Drowning in Debt – the Underwater Mortgage Crisis
- 03/25/12 10:57 PM
It’s no secret that the U.S. housing market has taken a beating over the last few years and still remains flat-lined when it comes to recovery, but new figures indicate the number of home owners submerged under a sea of debt is still increasing with the total number of foreclosures expected to increase over the next few years. The continuing crisis is a result of so many homeowners having an underwater mortgage. An underwater mortgage is when a homeowner owes more money on their mortgage than the property is worth on the open market. While many financially prudent people see this phenomenon … (0 comments)
surviving foreclosure: Advice on Surviving Foreclosure
- 12/13/11 01:22 AM
Tis the season to be jolly but for many Americans, it’s anything but. All across the country, thousands of families are facing the prospect of a very bleak Christmas this year, as a dismal economy and lackluster job situation drive them into foreclosure and the risk of homelessness this winter. You CAN survive foreclosure While it may seem like the end of the world, there are ways to survive foreclosure and, believe or not, to come out of it stronger than ever before. Award-winning author, playwright and blogger Stephanie Alison Walker and her family went through the gut-wrenching experience of confronting the possibility … (0 comments)
The current economic and housing situation has left many homeowners wondering ‘just how low can it go?”
;)
;)
