avoid shortsale: If you owe more on your home than its value...Should you foreclose or Short-sale?
- 11/29/08 03:19 AM
Foreclosure and Short-Sale were the two leading options for homeowners who owe more on their mortgage than the value of their homes. That should not be the case anymore as the government has recently revamped the alternative, Hope for Homeowners, to make it a viable option for homeowners who owe more on their house that their house is worth, instead of foreclosure or short-sale. Affected homeowners are encouraged to take a second look at the Hope for Homeowner program if they are having problem making their mortgage payment. Lenders and investors are now seeing the need to participate because the program offers quick recapture of principal … (3 comments)
Foreclosure and Short-Sale were the two leading options for homeowners who owe more on their mortgage than the value of their homes. That should not be the case anymore as the government has recently revamped the alternative, Hope for Homeowners, to make it a viable option for homeowners who owe more on their house that their house is worth, instead of foreclosure or short-sale.;)
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