on Nov 27th, 2007stop mortgage foreclosure is difficult when house prices are dropping
Keith writes a great blog and has a post today that I hate to call to your attention but will anyway. A brief item about how home prices are dropping:
Stupid things heard in 2004/2005/2006:
Nah, home prices never go down!There’s never been a fall in US median home prices, so pay anything anyone asks!
Trust me! I’m a REALTOR!
And here’s the reality today (well, almost reality. Of course these numbers don’t include the incentives and cash-back being used to clear dead inventory):
S&P Says 3rd-Quarter Housing Prices Dropped by Sharpest Rate in Index’s 21-Year History
NEW YORK (AP) — U.S. home prices fell 4.5 percent in the third quarter from a year earlier, the sharpest drop since Standard & Poor began its nationwide housing index in 1987, the research group said Tuesday.S&P also reported that prices fell 1.7 percent from the previous quarter, the largest consecutive quarterly decline in the index’s history.
Well, I have said this before. There are great reasons to work out your situation and maybe sell your house, arrange a short sale, or a loan workout agreement now rather than wait.
I am completing my Mortgage Relief Formula where I show you how to sell your house when there are no buyers, how to lower your mortgage payments without getting a new loan, how deed in lieu affects taxes, how to lower your credit card debts without bankruptcy and in the process improving your credit, and much more. Head over there and get on my list so you will hear about when it comes out. You can attend a valuable information-packed free teleconference and get instant access to my 25 page insider’s guide Keep Your Home.
And thanks, Keith, for a wonderful (but scary) blog.
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