In a recent study, the Chicago Booth/Kellogg School Financial Trust Index found that a full 36% of Americans would consider “strategic default”—another term for walking away from your mortgage—if they were underwater (owed more on their home than what it was worth). Now that more than one in four ... Continue Reading » about 3 Reasons the Term “Strategic Default” Is Misleading
It can happen quickly. An expensive car repair, an unexpected hospital visit, a missed week of work – just a few little things and the life you’ve worked so hard to build can feel like it’s tipping dangerously out of balance. Once the scales turn against you, it can feel like it is impossible ... Continue Reading » about Is Your Mortgage out of Balance with your Budget?
I absolutely feel for clients who are stressed out during the sale of their home. While I make the process about as smooth as possible, there are always high-stakes feelings on the table. Unfortunately, these mistakes can cost sellers thousands. In the interest of protecting sellers everywhere, ... Continue Reading » about Sellers Avoid These Emotional Traps
Most of us grew up thinking that if we planned well and played by the rules, we’d never have to stand by as our financial lives unraveled. But upheaval on Wall Street, unacceptable rates of unemployment and plummeting real estate values have taken their toll. Since 2007, 7.9 million homeowners ... Continue Reading » about It’s a sign of the times!
A recent study in Nevada (a state that holds the nation’s highest foreclosure rate), found that only 5% of distressed homeowners knew they had alternatives to foreclosure, and only 3% took advantage of them. It was also found the 1 in 4 homeowners chose to “strategically default,” or allow their ... Continue Reading » about Break Free From Unaffordable Mortgage Payments!
Not if I have anything to say about it! The FBI reported a jump of 71% in mortgage relief fraud investigations from 2008-2009, and expects this number to have grown in 2010. That’s why it’s my duty to educate homeowners in my community on the cautions they need to take, and what the government ... Continue Reading » about Mortgage Relief Fraud: Will You Be the Next Victim?