2010
03.22
03.22
- ISBN13: 9780470418611
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Product Description
Due to the wave of refinancing in recent years, and the fall in home values, in 2009 about 12 million homeowners and investors will be “underwater”–owing more than their property is worth. This book explains all the options for these homeowners who are trapped with houses they want to get free from, people whose property value has dropped so low that they can’t sell the property, people whose mortgage payment has adjusted and now they can’t afford the property. In … More >>
Related posts:
- How to Sell a House Fast in a Slow Real Estate Market: A 30-Day Plan for Motivated Sellers
- Investors learn to accept bad housing numbers
- How fast can you sell house that is quick deeded?
- Saint Joseph Home Sale Kit – Popular Tradition – St. Joseph Statue and Prayer Card to Help Sell Your House
- 1984 Harry Morgan ERA Real Estate Sell House Photo Print Ad
The title suggests a book that is very topical today. While that’s accurate, the text is very lightweight in its treatment of the issues. The writing comes across as more of a transcript of a radio show conversation between two moderately informed individuals than a serious, well researched take on a serious set of financial issues facing many families. It’s ok, but to me the text is more brochure-ware than financial reference or guide.
Rating: 2 / 5
The author is totally right about the fact that banks are in the business of lending money, not owning properties. To banks, loans are assets, and if people are making their payments, their loans are considered performing, and when they stop making payments, they become non-performing. If these loans do not begin to perform again, they have to be written it off, meaning that the banks have to take them off their balance sheets and declare huge losses. If the banks are publicly traded on the New York Stock Exchange or the NASDAQ, this means that reporting huge losses that can plunge their stock prices. This is not good news for the banks’ CEOs, who very likely hold these stocks in their own portfolios, but also have to report to shareholders. As a result, the banks have incentives to make deals with homeowners.
In this book, you will learn what a short sale is and why it is your best option, if you are “underwater,” meaning that you owe more than your house is worth. Because sometimes banks do not allow short sales, this book also covers other alternatives such as loan modifications, forbearance, and renting the property out. I think people will find this book useful because there are other solutions than simply declaring bankruptcy or going into foreclose.
- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
Rating: 5 / 5
Very timely book. Got the Kindle version. Gives a good historical description of how we got into them mess and what are your options to get out of the mess. Short sales are part of the real estate landscape and will be for the next few years. Chapters give a step by step for available options. Great companion to Short Sale Pre Foreclosure Investing by Sharon Restrepo.
Rating: 5 / 5
I highly recommend this book. I have attended Dwan’s Seminar and have several of her courses and she knows the real estate market. This book gives you the options to sell your house when the house is worth less than the mortgage. This book helps you choose the right option and gives you a step by step way to proceed and gives you the knowledge to solve your problem.
Rating: 5 / 5
The book shows you how banks thinks. By understanding their mentality you will have an advantage over them when you have located a property that the banks is holding firmly on to. When the bank perceives no equity in an over leveraged property, you now will have your opportunity to create equity with the bank’s help. The book shows you how to go about and make that a profitable reality.
Rating: 5 / 5