I Just Saved My Client $653,898... Increase YOUR Net Worth!
I just saved my client (let’s just call him Joe) $653,898 today. No games, no gimmicks, no gambling.
FACT: Joe has a net worth that is $653,898 higher than it was before he met me. Even better, Joe didn’t pay me one cent. My services are free to him.
Did your stock broker make you $653,898 this year? Has your financial advisor ever been able to improve your bottom line by $653,898 in two months?
I don’t want this to be a “doom and gloom” article, but let’s face some basic facts: the global economy is on the edge of breaking apart. The financial markets are transitioning; trying to stabilize, and will be doing so for the next 5 to 10 years. The value of the Dollar is in the gutter; the Euro is weakened and may be dissolved. Most European countries are operating in the red. Greece is going bankrupt, which is certain to impact all of the other countries that have any kind of financial relationship with them.
Until these financial markets stabilize, we won’t see the US banks and lenders lending mortgage money to hard-working homebuyers. That means, unfortunately, we’ve got a long time to go before people start buying homes again at the rate that is needed to consume the abundance of homes on the market currently. Even after the global economy stabilizes and people start buying homes again at a normal rate, it will still take several years for the housing market to recover, meaning that even once recovery has started, your home’s appreciation rate will only be 1% to 5% at best. Considering the huge hole that we’re in presently, that means that it would take 15 or more years for your home’s value to be what it was in 2001 to 2005.
This is a sad and scary truth, but the good news is that the government has made it easy for you to cut your biggest loss: your upside down mortgage. You might be emotionally attached to your home, but at some point you have to do what’s best for yourself and your family and cut the dead weight while you still can. Depleting your savings and throwing good money at a mortgage that’s worth 50% less than when you purchased your home does not make financial sense.
Selling your home and getting a full release of the mortgage is absolutely the best option. It’s the best option for you and your family, it’s the best option for your credit, and it’s the best option for your net worth.
Face it: when you bought a home, you thought it would be an investment; an asset. It isn’t. It's time to cut losses and gain financial ground while there's still time.
So, how much do you stand to gain by relieving yourself of your upside down properties? $100k? $500k? $800k?