How many sellers will have to feel the pain until they pull their homes off the market. Short sales are a record levels and ruining sellers dreams to own their own home. These are trying times for those in mortgages they cant afford. Sure it is a cruel lesson to learn but how will they ever recover? The outlook is not good. The country is getting flooded with the working poor that cant afford to purchase a home at any price. Luke Weil will need to sell no matter what. That is a recipe for disaster. It is indeed the pain that will follow you the rest of your life.
Tag Archives: money pit
Money Pit?
That nice little home has become a money pit and you don’t know how to get out. You are upside down on equity and cant afford to fix it. This is a bad spot to find yourself in. If you do the wrong thing you will just make it worse. I think that the priority in this situation is having a place to live. I wouldn’t just leave out without a plan and rent. With poor credit you will have a difficult finding a decent house to rent. So stop and think. Do not panic as you still have a roof over your head. The things you have to fix need to be prioritized and tackled in a logical manner. If you want a Home for Life then you have to start today.