Others view their upside-down mortgage
as a bad investment, and although they may have financial capacity, their willingness to resolve their issues is low so they opt to sit at home rent-free until they are forced to leave.
Such lenders' rights provide discipline to our housing market--Canadian borrowers think twice about buying more house than they need knowing their future earnings could be clawed back if they wash their hands of an upside-down mortgage
The program would pay a civilian or a Soldier the difference between his home's selling price and 95 percent of its value on the BRAC announcement date, or pay off an upside-down mortgage
, whichever was higher, and also pay the closing costs.
The Debt Relief Conference offers the perfect opportunity for anyone with an upside-down mortgage
or other debt burden to get help on-the-spot from the attorneys and debt relief specialists who will be there," says Tim Kirchner, CEO and founder of The FESPIR Org.
It serves neither the lender nor the consumer to enter into an upside-down mortgage
, he noted.
The nation's housing market is slowly improving, but many Americans continue to struggle with upside-down mortgages
-- owing more on their homes than they are worth.
16, 2012 /PRNewswire/ -- Many homeowners are sick and tired of paying on their upside-down mortgages
while their neighbors and fat cat bankers get bailed out by the Fed.
Cash-strapped homeowners are staying put in their homes or taking a loss on their upside-down mortgages
and moving back in with their parents to raise their families.
, home depreciation values and looming foreclosure is the stuff of "HGTV's $250,000 Challenge.
Additionally, it is believed that to the extent that this stimulates investments in home improvements, it will enhance home values and help close the gap on upside-down mortgages
and shrinking home values that are a major cause of our current economic problems.
A lot of people have upside-down mortgages
or very tight margins -- maybe their home is worth $400,000, and they owe $350,000," so the money they save on paying a commission to a realtor could make a big difference, Donnellan said.
And, upside-down mortgages
continue to plague many homeowners as well.