When will home ownership be affordable again?

Q: At what point will home ownership become affordable again?

A: My thoughts: Prepare for a new normal.

Recent economic upheaval has taken a hefty toll. Looking at 2012, it’s impossible to know what’s next and the kind of an impact that an upturn or a downturn at the national level stands to have on your family’s finances.

Regardless of what happens in Washington or on Wall Street, two things are very clear: you are not alone and now is the time to prepare for a new normal.

With a national epidemic of unemployment or underemployment, and 25 percent of the homeowners in the country owing more on their home than they could net for it in today’s market, homeownership for many has become a financial liability. Not being able to make payments on a home that you can’t afford to sell feels like an awful trap, but the fact is, there are solutions—and letting the bank foreclose on your mortgage should not be one of them. I have written about the cost to you should this happen under our “Short Sales and Credit Score” page.

Of the few people who are approved for a loan modification, only 50% of those people can actually go on to make the modified payment. More than half stop paying the modified payment! I had a client thank me for talking him out of a loan modification he could not afford.

Banks are increasingly willing to negotiate short sales. In many cases, they’re offering sizable financial incentives to help financially strapped homeowners to get a fresh start on their lives.

As real estate professional who has achieved the Certified Distressed Property Expert (CDPE) designation, it is my mission to give homeowners the gift of a fresh start.
Contact me TODAY and let’s get started.

Take action now and resolve to turn it around by the end of 2012!

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