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Walk Away From your Mortgage Calculator

IS IT IN MY ECONOMIC INTEREST TO WALK AWAY?   
You decide.  This calculator is just a tool to help.  Numerous variables are involved but the biggest is probably your assessment of the future of housing pricing.  No one can predict future prices, but the conventional wisdoms says that it is probably not realistic to believe that housing prices will increase by more than 4%-8% per year on average.

WHAT WILL HAPPEN IF I WALK AWAY?
It depends on the particulars of your situation.  In many states, including California, in many circumstances the “bank” has no legal or practical recourse against homeowners who stop paying their mortgages except to take their homes through foreclosure and put derogatory entries in their credit reports. 

LOAN MODIFICATION? 
The more it is in your economic interest to walk away, the more the bank should be willing to make a deal with you to get you to stay and pay.  The banks will try to base modification negotiations on what you can afford as opposed to what you should afford. 

SHORT SALE?  A short sale in Florida offers homeowners a way to avoid foreclosure and help save their credit.  We have a team of licensed Orlando Realtors and loss mitigation experts who specialize in pre-foreclosures and the short sale of all types of property.

Walk Away From your Mortgage Calculator

Source: PayOrGO.com

Stop Foreclosure & Save Your Credit

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Posted by Real Estate - Associates on December 16th, 2009 11:21 PMPost a Comment (2)
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Access Florida Mortgages: We search Florida mortgage lenders to find the right Florida mortgage rates and best program for you. We find loans to purchase or refinance a house, debt consolidation, home improvement, 2nd mortgages, investment & commercial properties. Giving you peace of mind during the loan search process by doing all the legwork for you.

Florida Short Sale Center & Orlando Short Sale Center: offer homeowners a way to avoid foreclosure with a short sale and help save their credit.  We have a team of licensed Realtors and loss miitigation experts accross the entire state of florida who specialize in pre-foreclosures and the short sale of all types of property.

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