
We have been on several pre-listing SHORT SALE appointments in the last week on houses that had been listed from $200-$800,000 and in most cases, the sellers had no idea that they were "upside down" . The re-curring theme with these sellers was home equity loans....after all a year ago...two years ago...the bank told them that their home "Appraised for $X...." and even allowing for little appreciation...or even some depreciation....they believed their homes would still sell for more than they owed....they would just break even or make less profit
A bank appraisal to withdraw equity a couple years ago...and today's values may be and unfortunately, usually ARE a whole different story....Understand Mr., Ms or Mrs. Seller....the bank appraised your home for the purpose of lending you money....for updating, repairs, using the equity to buy, update or repair another property.....and they had a vested interest in having the property be valued at a as high a number as possible. In addition to that, the prices in the market a while ago and the prices today are usually lower.... combine those two factors. Now, when you thought you were taking SOME EQUITY our of your home...the SOME may be MORE THAN ALL in Today's market. IF you don't HAVE to sell and the payments are affordable...sit tight...it may be a while but the market will come back. If you are having to sell and your equity is gone...your income reduced due to death, divorce or loss of your job....you may well be a candidate for a short sale.
Don't guess...don't imagine what the consequences are...Learn from an expert...give us a call,..no matter where you are in the country....we will find you someone in your market to help you determine your best avenue of pursuit....and if it is a short sale, know that they will offer you the guidance you need and get your home sold without the hassle of foreclosure that will follow you for years to come, could be potentially expensive and worrysome on a lot of levels.
Toll free: 877-525-0563, locally in southeastern Wisconsin: 414-525-0563 OR e-mail: Experts@WeSellUpsideDownHomes.com. We don't just list short sales...we close them.

Sally
I believe a lot of people are waking up to same realization
Sincerely
Tom Braatz