Short Sale or Save my House?
The Texas Group has received numerous calls that go something like this “I have fought the bank for year and half, and after paying thousands and thousands I have decided to short sale, can you help me”?
Email beth@txhomerealty.com to discover how other sellers successfully did a short sale and avoided foreclosure.
Because of this, I decided to break down the reasons to short sale your home. In addition I added in a few reasons you should NOT consider A Short Sale:
Do NOT Short Sale if the value of your home is appreciating more then 5% a year. I have found that once you are upside down on your home more than 10%, then in most cases the housing market has dug a hole that no amount of financial superman work can get you out of.
Short Sale if you are a financial superman. If you are a CPA or Harvard Grad Number Cruncher, then you understand that numbers are more important than warm and fuzzy thinking.
Do NOT Short Sale if you are going to make TONS of money in the future! You can probably convince your lender to grant you a loan modification and get back on your feet.
Short Sale if you can find a rental home comparable to your home. You have to live somewhere. We have seen lots of homeowners find a nicer home to rent for a lower monthly payment than their “upside down” home.
Do NOT Short Sale if you think that you are different from large Wall Street Firms that willingly walk away from their obligations.
You believe that your finances should not be run like a business, you should never retire, and that people in debt deserve to work 80 hours a week for the rest of their life until they pay off their debt.
This one drives me nuts. It is ok for Morgan Stanley to strategically walk away from their obligations on 5 San Francisco Towers they bought, but it’s not ok for “Average Joe Homeowner” to walk away from his upside down house?
As you can see, when you run the numbers Short Sales almost ALWAYS make financial sense. Staying in a home that is upside down makes lousy financial sense, unless you get an awesome loan mod.
Now those are my opinions, and those points do not apply to every situation. What I am saying is that you really should look at your home as a financial investment, NOT a stone around your neck.
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 phillis@txhomerealty.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 (469) 523-1402.
Discover how other sellers successfully completed a short sale in Arlington, Dallas, Mesquite, Lancaster and request a free consultation by emailing beth@txhomerealty.com.
The Texas Group has received numerous calls that go something like this “I have fought the bank for year and half, and after paying thousands and thousands I have decided to short sale, can you help me”?
Email beth@txhomerealty.com to discover how other sellers successfully did a short sale and avoided foreclosure.
Because of this, I decided to break down the reasons to short sale your home. In addition I added in a few reasons you should NOT consider A Short Sale:
Do NOT Short Sale if the value of your home is appreciating more then 5% a year. I have found that once you are upside down on your home more than 10%, then in most cases the housing market has dug a hole that no amount of financial superman work can get you out of.
Short Sale if you are a financial superman. If you are a CPA or Harvard Grad Number Cruncher, then you understand that numbers are more important than warm and fuzzy thinking.
Do NOT Short Sale if you are going to make TONS of money in the future! You can probably convince your lender to grant you a loan modification and get back on your feet.
Short Sale if you can find a rental home comparable to your home. You have to live somewhere. We have seen lots of homeowners find a nicer home to rent for a lower monthly payment than their “upside down” home.
Do NOT Short Sale if you think that you are different from large Wall Street Firms that willingly walk away from their obligations.
You believe that your finances should not be run like a business, you should never retire, and that people in debt deserve to work 80 hours a week for the rest of their life until they pay off their debt.
This one drives me nuts. It is ok for Morgan Stanley to strategically walk away from their obligations on 5 San Francisco Towers they bought, but it’s not ok for “Average Joe Homeowner” to walk away from his upside down house?
As you can see, when you run the numbers Short Sales almost ALWAYS make financial sense. Staying in a home that is upside down makes lousy financial sense, unless you get an awesome loan mod.
Now those are my opinions, and those points do not apply to every situation. What I am saying is that you really should look at your home as a financial investment, NOT a stone around your neck.
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 phillis@txhomerealty.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 (469) 523-1402.
Discover how other sellers successfully completed a short sale in Arlington, Dallas, Mesquite, Lancaster and request a free consultation by emailing beth@txhomerealty.com.
Thinking about a loan modification? Our Dallas loan modification kit has the instructions you will need to get a loan modification approved with your bank. Email phillis@txhomerealty.com.
Thanks for reading this, Phillis Nealy.
Phillis is a Real Estate Agent at The Texas Group.
Phone: (214) 650-5536.
A Realty company with Service as Big as Texas
View My homes for sale at www.southwestdallashomes.com.
Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.
Important Notice
Phillis Nealy, and The Texas Group Realtors are not affiliated in any way, shape, or form with the government.
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.
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