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Real Estate Agent with John Franc Realtor ABR Vandyk Group NJ License - 1537463

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............

Deborah Byron Leffler BzyBee Real Estate Lady!
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