STL Today has tracked success stories of homeowners in St. Louis, Missouri including J.D. Tucker from St. Louis City. According to STL Today, Tucker became single in 2012 and was faced with having to raise five adopted children with one income. He began to receive notices from the bank about foreclosing on his home. He discussed a short sale with the bank and the bank agreed. He finally sold his home for $65,000 less than the initial asking price. Tucker considers his story a success based on the sole fact that his home was sold as a short sale instead of a foreclosure.
Cash flow refers to the amount of money coming in compared to the amount of money going out. For the most part, this is an uncharted territory. It is a wise choice to invest in a Moderately Priced Property (MPP). Owning a property and renting out can create a positive cash flow if the monthly rent payment is more than the monthly mortgage payment.
Recently the housing market has been more favorable to buyers. Buyers can take advantage of the short sales and foreclosures because they are sold at a lower price. While this may be true, buyers should be aware of some precautions before considering a short sale or foreclosure. Home prices can be attractive due to the low interest rates. Consumers should not be wrapped up in the excitement of the price of the home and should consider other factors when trying to find the perfect home.
Take away the worry and stress of losing your home! Starting Point Home Solutions is here to help you through the financial hardships you are facing. Starting Point can provide plenty of options to prevent you from filing for bankruptcy or foreclosing on your home due to an unexpected decrease in income.
Bankruptcy, divorce or an inherited home can put you in position to sell your home him a short time span.
A short sale is an alternative to a foreclosure. You can qualify for a short sale if you are facing a foreclosure and can no longer afford your home. You can sell your home for less than the remaining balance on your mortgage. There are advantages to following through with a short sale. The mortgage company can allow you to pay off the rest or some of the house with the proceeds from the short sale.
A short sale can be an option if:
Today is the biggest shopping day of the year, and almost everyone will be filling malls and stores to hunt down Black Friday deals. Not so many, though, are shopping for homes this time of year, and prospective homebuyers who don’t have their head in the game during the holidays could be missing out on some serious real estate steals.