rhode island real estate short sale rhode island lawyer rhode island real estate lawyer rhode island real estate attorney: Short Sale
- 03/27/08 10:30 PM
In this market, a number of people find themselves "under water". That is, the value of their home is less than the amount they owe on it. This only becomes a problem if the owner has to sell or needs to refinance because of an upcoming adjustment in their interest rate. In this situation, the homeowner is not going to be able to refinance because of the decreased value. It is possible that the lender could re-write the deal. If you are in this situation and the lender will not rewrite the deal, there are a number of options that you have … (2 comments)
In this market, a number of people find themselves "under water". That is, the value of their home is less than the amount they owe on it. This only becomes a problem if the owner has to sell or needs to refinance because of an upcoming adjustment in their interest rate. In this situation, the homeowner is not going to be able to refinance because of the decreased value. It is possible that the lender could re-write the deal.;)
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