Posted by: Brian Powers | August 11, 2009

Underwater Mortgages to hit 48%

If you owe more on your house than it is worth, don’t feel too bad. You’re not alone! Deutsche Bank is forecasting that the number of underwater, or “upside down” mortgages in the U.S. will be nearly half of all mortgages before the housing market fully recovers.

Having an upside down mortgage doesn’t automatically mean that foreclosure is inevitable if you are having trouble keeping up with payments or need to sell.  Troubled homeowners have several options at their disposal to avoid foreclosure, and recent law changes here in Michigan expand those options even more.

Foreclosure doesn’t HAVE to happen.  If you or someone you know is having trouble keeping up with mortgage payments, or needs to sell but can’t because they owe more than the home is worth, I can help. I’ll be glad to sit down with you or anyone you know in this situation to discuss your options.

Feel free to contact me by phone at (248)379-1750 or via email at brianpowers@kw.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: