avoiding foreclosure: Short Sale in 2008?
- 01/01/08 01:46 PM
Should you Short Sale? If you're following the news, you've been hearing about the mortgage crisis in America. Three factors have converged to create a difficult situation for many homeowners: 1) The market spiraled out of control in '05 and '06 when many bought their homes at record-high prices. 2) Buyers took ARM mortgages in order to afford the high-priced homes, with low starting rates which they could afford. Now those rates are re-setting to higher, market rates, making the monthly payments too expensive, since wages have not risen dramatically. 3) Home prices have now begun to reduce to normal, affordable amounts - which is … (3 comments)
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Should you Short Sale?
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