1. "In Default" - technically when a loan is 30 days past the end of the lender's grace period
2. "Upside Down" or "Little to no Equity" - 8% equity or less
3. Legitimate Economic Hardship - generally includes loss of job or reduction in pay, a divorce, and illness, death, increasing property tax, increase in mortgage payment due to an ARM Resetting
The Katie K Team is CDRS and 5 Star Institute Certified for Short Sales. What does that mean for you? Our team can help you avoid foreclosure, help you to get out from beneath the burden of your property, and not devastate your credit.
To post a comment on this blog post, you must be an HAR Account subscriber, or a member of HAR. If you are an HAR Account subscriber or a member of HAR, please click here to sign in. If you would like to create an HAR Account account, please click here.
Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.