Having a father that was in the car business when I was growing up, I learned all the language. When you go to buy a new car and are trading in the older one (that you are still making payments on), many times you will be "upside down". This means that you owe more on your current car than it is currently worth.
In today's NH real estate market, we are seeing more and more folks "upside down" with their real estate. If the seller has the ability, they are coming to the closing table with moneyto pay off the difference, if not, we are working with what is known to be a "short sale".
The mortgage company has the final say in approving a purchase and sale on a home with a sort sale. It may take a little more time than your typical closing but in the end it is a "big burden lifted off many homeowners shoulders".
If you are finding yourself in such a situation, give me a call, I'd love to help! I will work diligently with you to find the best solution for both you and your mortgage company (or companies) and try to make the process as smooth as possible.
Amie Varney
Prudential Verani Realty
PO Box 354, Rte 125
Epping, Nh 03042
603-679-5654 x3920 Office
603-490-8799 Cell
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