I just heard an interesting story about some sellers in our foreclosure market. It takes about 18 months for a home to be foreclosed on in our area. A seller could stop paying his mortgage of let's say $1500.00 a month for 18 months. That would equate to about $27,000.00 in that period the seller could save by not making any payments on his mortgage. But here's more, the seller then moves out of the home and rents it out for $1500.00 a month thus producing another $27000.00 in income. Potential of $54,000.00 in 18 months, not bad huh............
Keller Williams Realty Boise - Nampa, ID
Unbelievable isn't it?? I can't imagine doing that although I am sure there are some who are! Yikes!
Jun 22, 2010 11:24 AM
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