Short Sales On The Rise
I am on my way this afternoon to sign a listing agreement with a homeowner who is upside down. He owes $635,000 on his mortgage, and his home is currently worth no more than $580,000. His negative amortization loan is about to adjust, and he will not be able to make his payments. To make matters worse, his wife is commuting more than an hour each way, and it's put tremendous wear and tear on their car, not to mention stress on their relationship. He will need to buy a new one soon, and won't be able to afford it. I have reviewed his situation with my partners at BGS3, and we are completely confident that we can help him STOP foreclosure, negotiate to have any deficiency judgement waived, and will be able to help him restore his credit within 2 years.
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