Would Dave Ramsey Love An Orlando Short Sale?
Orlando, FL – You might have heard of Dave Ramsey. He has a popular radio program where he talks explains the benefits of getting out of debt.
Dave is a zealot for the debt free life. "You don't need to see the inside of a restaurant unless you are working there", he will tell people in financial trouble that call his show.
What does Dave recommend people do to get out of debt? Reduce spending, eat at home, pay off high interest debt first, etc.
Here is why I think Dave would love a short sale. A short sale is a great way to reduce debt. Where else can you wipe out $100,000, $200,000, and even more in debt? That will make up for eating a lot of rice and beans.
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Do you have a house that is underwater to the tune of $50,000 or more? Try a short sale. It's a great way to erase all that upside down debt.
You can rent another home for 2-3 years until the market has bottomed out. Then, you can buy at the bottom. Not only will you save on a lower house price.
You will also save on the interest over the life of the loan. Did you know that on the average 30 year mortgage, you pay as much in interest as you pay for the house?
If you wiped out $100,000 in upside down debt, then that means you actually wiped out another $100,000 in interest. I think Dave would be proud.
What is an Orlando Short Sale? A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrowers. This agreement, however, does not necessarily release the borrower from the obligation to pay the remaining balance of the loan, known as the deficiency.
Thinking about short sale? Contact me for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. I have my contact information below.
What do you recommend?
View My homes for sale at www.greaterorlandohomes.com.
Orlando Short Sale Realtor. Orlando, FL Short Sales. Orlando Realtor.
Copyright © 2011 SFI Marketing Institute, LLC. All Rights Reserved. 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 as of the date of writing. The views expressed here are Gitta Urbainczyk P.A.'s personal views and do not reflect the views of Keller Williams Heritage Realty. This information is provided as a courtesy to our viewers to help them make informed decisions.
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If you are thinking about short sales, make sure you hire a competent, experienced short sale expert. A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. Discover orlando fl short sale, orlando foreclosure, orlando foreclosure assisstance, Orlando Short Sale, orlando short sale realtor, orlando short sales, orlando short sale homes, short sale orlando and orlando fl short sale realtor by reading this article.
An Orlando Short Sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan.
The amount of Orlando short sales which closed were 261 properties in comparison to last year were 230 short sales closed in the Orlando MLS. Bank owned properties sold, 552 units in 2010 and 540 units in 2011, a slight decline. How much lower can prices go, well until the Orlando real estate market has absorbed more of the oversupply of inventory, this will continue to be a challenge and prices will decline further.
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Orlando Short Sales: If You Bought At The Market's Peak, Does It Make Sense To Short Sale Your Home?
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