Bellevue WA – Many people are shocked that it is often cheaper to short sale and rent that staying in your home with a loan modification.
They find it hard to believe that they can rent a comparable or even nicer home for less than their mortgage. Here are the two factors that make it possible.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Many homeowners bought homes for more than they are selling for today. A perfect example is a homeowner that paid $450,000 for a home. His mortgage payment was around $3,200 a month.
He stopped paying his payments and moved to a rental. He found a nicer, larger home to rent for $2450 a month. He had tried for months to convince his lender to modify his loan.
They wouldn’t drop the payments below $3,000 a month. Even though the home he is renting is nicer than his house, it is selling today for around $260,000. Click HERE to continue reading.
