One slice of sellers is faring much worse than everyone else in terms of equity built up in their homes, according to new data from the NAR.
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One slice of sellers is faring much worse than everyone else in terms of equity built up in their homes, according to new data from the NAR.
Helping owners STOP mortgage misery at PainfulPropertySolutions.com
Those who bought their homes 8 to 10 years ago, at the height of the real estate bubble—have gained almost no equity in that time, an average of just $3,000 or 1%, said Jessica Lautz, the NAR’s managing director of survey research and communication.
Plus, many of the negative amortization loans written from 2005-2007 are now converting causing severe financial hardship to homeowners and real estate investors. I am speaking with quite a few owners whose mortgages have converted this year. One investor's payment has tripled, needless to say I am helping him sell in a short sale.
If you or someone you know is in this situation, please reach out to PainfulPropertySolutions.com