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Nightmarish Experiences When Your Mortgage Is Underwater

By
Managing Real Estate Broker with Maxus Realty Group of Samson Properties Broker - Realtor - CEO

 

For the month of May 2011, Herboso &; Associates will post one post per day highlighting the reasons why you should do a short sale before you lose your property to a foreclosure.

31 Reasons WHY 
YOU SHOULD DO A SHORT SALE BEFORE
ALLOWING A FORECLOSURE IN YOUR PROPERTY
short sales maryland

 

Day #27 --Reason #27

Waking Up From A Nightmare

 

 

 Waking up after a nightmare is a relief. .realizing that after all it was only a nightmare...
 

When you home is worth only $300,000 and you owe $600.000 to the bank. .

THAT IS A Nightmare and the worse of it . . .. its real!

A short sale. . is THE WAKE UP process from this nightmare. . that’s when you are finally out of it!

 

Waking up from this delusional dream of being a homeowner takes time. .when you are underwater;

I often ask this question. .

 

“Ask yourself. .

Are you a homeowner or JUST a Mortgage Owner?”


I feel a little blunt and dry today. . for good reason

I just read this report about foreclosures in the country and the cat is out of the bag. .

It will take 3 years to sell and get rid of all the foreclosures in the nation . . .that is how much inventory we have. They failed to mention about THE OTHER FORECLOSURES that will come about in addition to . . .during these 3 years.

You can read the report here

 

We are here for the long run. .

 

And the wakeup call for you is realizing that this maybe a normal market for years to come.

The biggest benefit I see based on my observations is your situation will change and you can’t help it being even much better for you.

 

Take this tenant we just secure a contract for one of our rental listings recently. .

His credit was intact except that he lost his house to a foreclosure.

I asked him. .why did you not try a short sale?

 

His answer floored me. .” I didn’t think that would help me!”

 

I’m not the type to say I told you so. .things happen and no reason to make them feel even worse.

What I told him was. .

 

“Even in a foreclosure . . .you are setting yourself to be in such a great place .. Maybe in a few years after your foreclosure is out of your credit history. .

 

You may still comeback and buy your old house back at half price”

 

Stranger things have happened.

 

 

Fernando Herboso

Broker - Solutions Finder

"Don't Pray For A Miracle. . .expect it!" 

Herboso & Associates llc 

www.ReallyNiceHomes.com

www.Short-Sales-Expert.com

Office 240.898.1848

Cell    240.426.5754

Fax    888.913.3535

My real estate knowledge is always up-to-date. For expertise you can depend on, call me when you have questions about the market or are ready to make a significant move. . .Quality representation is not expensive, its priceless!

 

If you live in MD, DC or Virginia, I will be glad to help you personally with a phone call consultation.

 

Fernando Herboso 240-426-5754

   

 

 

 

     

                                                   

 

All our services provided by Herboso & Associates to distressed homeowners are free of charge


 

The Realtor’s Realtor:

 

The biggest compliment I can have is when colleagues ( other Realtors) call on us to do their OWN short sales. . yes, we helped other Realtors avoid foreclosure as well


 

 

Read More Here. . .

Maryland Short Sales Realtor

 

 

 

Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

I like that phrase - are you a homeowner or just a mortgage owner?  It can really trap you!

May 27, 2011 09:34 AM