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Informationen zum Autor DWAN BENT-TWYFORD, "The Queen of Short Sales," is the country's leading authority on buying and selling "underwater" properties. She runs popular boot camps for real estate investors and is a sought-after public speaker on real estate investing. She is also the coauthor of Short-Sale Pre-Foreclosure Investing , from Wiley. BILL TWYFORD is a successful real estate investor, speaker, author, motivator, and teacher. Klappentext Smart Options for Homeowners Who Owe More on Their Mortgage Than Their Property Is Worth The crash in housing prices and other economic forces have left millions of property owners "underwater"--owing more on their mortgage than their property is worth. If you're one of them, trapped in a home you can't sell and pressured by mortgage payments, the situation can feel hopeless. But you do have options. And giving up is not one of them. Whether you're a homeowner or an investor, there are ways to get out of this mess before it bankrupts you. The first step is to arm yourself with full knowledge of all the alternatives available to you. You may be able to renegotiate loan terms with your bank, or short sell your home, or even rent the property out--just don't wait until it's too late. How to Sell a House When It's Worth Less Than the Mortgage explains all of your options, helps you pick the best one for your situation, and shows you how to get it done step by step. Inside, you'll discover the ins and outs of: Estimating the real market value of your home Understanding mortgage forgiveness and debt relief legislation Putting together a short sale package to convince your lender to write down your mortgage Finding a buyer yourself or using an agent Negotiating new loan terms with the bank Tapping into government aid programs Surviving bankruptcy or foreclosure as a last resort Zusammenfassung * HIGHLY TOPICAL: Due to the wave of refinancing in recent years! and the fall in home values! in 2009 about 12 million homeowners and investors in the US will be "underwater" - owing more than their property is worth. Inhaltsverzeichnis Downloadable Forms vii Introduction ix How Did So Many of Us End Up with Underwater Houses ix What Happened to Real Estate Prices? x Easy Money Home Loans xiii When Lending Guidelines Loosened-The Beginning of Our Current Problems xvii Meet the Authors xix Acknowledgments xxii Part I Options For "Underwater" Property Owners Chapter 1 Is Your Home Worth Less Than the Mortgage? 3 How to Estimate the Value of Your Home 4 What Banks Want 6 Introduction to a Short Sale 7 Other Options for Underwater Homeowners 8 Chapter 2 What Happens If I Walk Away from My Property? 11 Stop Making Payments, Move Out, Let the Bank Foreclose 11 Deed in Lieu of Foreclosure 13 How to Protect Yourself 14 Your Losses Don't Stop with Foreclosure 15 Mortgage Forgiveness Debt Relief Act 19 Chapter 3 If You Are in Financial Trouble, Deal with Your Emotions First! 25 The Typical Mindset of People in Distress 25 How It Feels to Be Trapped 31 Putting Your Pride Aside-The First Step to a New Life 34 How to Get Free from Your Property and Get on with Your Life 36 Chapter 4 Aggressive First Steps to Get the Highest Possible Price 39 Try to Sell the Property Yourself before Calling a Real Estate Agent 39 Using a Real Estate Agent 41 What If My House Is Underwater but the Payments Aren't Late? 44 Chapter 5 Try a Loan Modification: Negotiating a Lower Monthly Payment with Your Lender 47 Loan Modification 48 Forbearance Agreement 52 Chapter 6 Government Programs and Mortgage Relief Org...
