Columbus OH – In most areas the rental market is
very tight. Rental prices have been increasing because so many people are
losing their home to foreclosure.
But, what is still surprising is that in most cases it is still cheaper to rent
than own an upside down home. See, home prices have dropped by 20-50%,
depending on the area.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
It was a lot less expensive to rent back in the peak of the real estate boom.
After the crash rent dropped in many areas.
It has come back up, but it is still cheaper than a mortgage payment on a home
bought at the peak of the housing market. Many people are shocked that it is
often cheaper to short sale and rent than staying in their home with a loan
modification.
Here are the two factors that make it possible to rent a
comparable or even nicer home for less than their mortgage.
Let's take the example of a home who paid $150,000 for a home that is now worth
$75,000. Their mortgage payment was around $1,350 a month.
They stopped paying their payments and moved to a rental. They found a much
nicer, larger home to rent for $850 a month. (This was after trying for months
to convince their lender to modify their loan.)
The lender wouldn't drop the payments below $1,200 a month. The house they are
renting is selling today for around $95,000.
Someone can buy that house for $95,000 and rent it for $850 a month without
losing money. That is what makes it cheaper to rent versus
getting a loan modification and staying in your home.
When prices were rising it was actually more expensive to own versus rent. But,
everyone wanted to own because their house was supposed to go up in value.
If you are thinking about a loan modification, then first check into the rental
market. You will be able to negotiate your loan modification from
a position of power.
That will make it more likely that you will get the reduced payment you need so
you can keep your home. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking
here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Rick and Robin Lemmons.
Rick and Robin is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Rick & Robin Lemmons specialize in helping Columbus Homeowners short sale
and never pay the bank another penny. Columbus Loan Modification Help, Columbus
Short Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus
OH Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.
Important
Notice
Rick and Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your
lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Rick and Robin's personal views and do not reflect
the views of Coldwell Banker King Thompson.
This information on Columbus Short Sales: Even With The Tight Rental Market It
Is Still Often Cheaper To Short Sale And Rent is provided as a courtesy to our
viewers to help them make informed decisions.
No comments:
Post a Comment