Salt Lake City, UT (PRWEB) September 27, 2010
“Must I remain, or must I go now?”

Like the lyrics from the ’80’s punk-rock band The Clash, a lot of property-owners are faced with the tough selection to stay in a house where they now owe substantially more than the property is worth or to move on. 79% of American property owners may now find themselves in this circumstance. A staggering statistic.

The choice to keep or go is a difficult 1. These complicating factors contain: family members, neighbors, close friends, schools, bankruptcy, credit rating scores, and an individualized list that is distinct to every homeowner. Complications, however, do not need to consist of ambiguity as to the economic ramifications of the choice.

A lot of upside down property owners are electing to stay in their properties because they believe that the marketplace will quickly recover, or that the market place will quickly make up for the losses that they have suffered.

The monetary query is: How lengthy are you prepared to remain with a home and wait for it to recover? Or, will I ever recover my continuing investment? For a lot of, continuing to spend into an over-priced mortgage, on an over mortgaged home, is an exercising futility: throwing very good cash right after undesirable. Rather of staying with the house, need to the homeowner contemplate a quick sale, loan modification, or foreclosure? But how can you know?

Thankfully, there is now a tool that can support bring cold-hard numbers to bear on this emotional choice.

MyShortSaleCalculator.com offers a cost-free tool that, with a little input, can reduce an incomprehensible jumble of numbers and information into a single straightforward number: the quantity of months till your home’s worth as soon as once again equals the quantity owing.

Stay or Go? For a surprising quantity of borrowers, the numbers say … GO!

About the Author:

Michael T. Moss is the Managing Member of American House Law, Pc a firm that specializes in loss mitigation for distressed home-owners. Mr. Moss is a graduate of Brigham Young Law School, who has 25 years of professional experience representing homeowners as an advocate, and title insurance coverage provider.

# # #





Connected Loan Modification Press Releases