How to Sell a House When It's Worth Less Than the Mortgage: Options for "Underwater" Homeowners and Investors

( 1 )

Overview

Due to the wave of refinancing in recent years, and the fall in home values, in 2009 about 12 million homeowners and investors will be "underwater"—owing more than their property is worth. This book explains all the options for these homeowners who are trapped with houses they want to get free from, people whose property value has dropped so low that they can't sell the property, people whose mortgage payment has adjusted and now they can't afford the property. In addition to offering advice on subject to's, ...

See more details below
Paperback
$15.24
BN.com price
(Save 23%)$19.95 List Price
Other sellers (Paperback)
  • All (19) from $1.99   
  • New (6) from $11.09   
  • Used (13) from $1.99   

Overview

Due to the wave of refinancing in recent years, and the fall in home values, in 2009 about 12 million homeowners and investors will be "underwater"—owing more than their property is worth. This book explains all the options for these homeowners who are trapped with houses they want to get free from, people whose property value has dropped so low that they can't sell the property, people whose mortgage payment has adjusted and now they can't afford the property. In addition to offering advice on subject to's, rentals, leases, loan modifications and more...the book will teach America how to short sale their own home.

Read More Show Less

Product Details

  • ISBN-13: 9780470418611
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 3/9/2009
  • Edition number: 1
  • Pages: 224
  • Sales rank: 860,901
  • Product dimensions: 6.20 (w) x 9.30 (h) x 0.60 (d)

Meet the Author

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.

Read More Show Less

Table of Contents

DOWNLOADABLE FORMS.

INTRODUCTION.

How Did So Many of Us End Up with Underwater Houses.

What Happened to Real Estate Prices?

Easy Money Home Loans.

When Lending Guidelines Loosened—The Beginning of Our Current Problems.

Meet the Authors.

ACKNOWLEDGMENTS.

PART I OPTIONS FOR “UNDERWATER” PROPERTY OWNERS.

CHAPTER 1 Is Your Home Worth Less Than the Mortgage?

How to Estimate the Value of Your Home.

What Banks Want.

Introduction to a Short Sale.

Other Options for Underwater Homeowners.

CHAPTER 2 What Happens If I Walk Away from My Property?

Stop Making Payments, Move Out, Let the Bank Foreclose.

Deed in Lieu of Foreclosure.

How to Protect Yourself.

Your Losses Don’t Stop with Foreclosure.

Mortgage Forgiveness Debt Relief Act.

CHAPTER 3 If You Are in Financial Trouble, Deal with Your Emotions First!

The Typical Mindset of People in Distress.

How It Feels to Be Trapped.

Putting Your Pride Aside—The First Step to a New Life.

How to Get Free from Your Property and Get on with Your Life.

CHAPTER 4 Aggressive First Steps to Get the Highest Possible Price.

Try to Sell the Property Yourself before Calling a Real Estate Agent.

Using a Real Estate Agent.

What If My House Is Underwater but the Payments Aren’t Late?

CHAPTER 5 Try a Loan Modification: Negotiating a Lower Monthly Payment with Your Lender.

Loan Modification.

Forbearance Agreement.

CHAPTER 6 Government Programs and Mortgage Relief Organizations.

Mortgage Relief.

Financial Relief.

PART II SHORT SALES: HOW TO SELL A HOUSE WHEN IT’S WORTH LESS THAN YOU OWE.

CHAPTER 7 The Short Sale Solution.

When a Short Sale Won’t Work.

Short Sale Requirements.

Short Sales for Investment Properties.

How to Approach Your Bank.

How to Ace the Broker’s Price Opinion.

CHAPTER 8 How to Put Together Your Own Short Sale Package.

Requirements for Financially Distressed Homeowners.

Requirements for Solvent Homeowners.

Putting the Package Together.

Sample Contract for Sale and Purchase.

Sample Comparable Sales.

Sample Pictures of Disrepair.

Sample Net Sheet.

Sample Investor Letter.

Sample Repair List.

Making Sure Your Package Is Complete.

Sample Short Sale Package.

CHAPTER 9 How to Work with an Ethical Investor to Short Sale a Property.

What Should an Investor Do for Me?

How to Negotiate with Investors.

CHAPTER 10 Closing Any Deal—What You Need to Get in Writing.

Get Everything in Writing from the Bank, Investor, or Real Estate Agent.

What to Expect from the Closing Agent.

Check Your Credit after the Deal Is Done.

PART III OTHER OPTIONS AND ISSUES FOR UNDERWATER HOMEOWNERS.

CHAPTER 11 If Nothing Else Works, Consider Bankruptcy.

Bankruptcy—How to Buy Time.

Will Bankruptcy Help or Hurt My Credit?

CHAPTER 12 Temporarily Renting Your Home.

Section 8 Program.

CHAPTER 13 Don’t Go Broke Trying to Save Your House.

Don’t Go Broke.

Living with Negative Cash Flow.

Living with the Emotional Stress.

CHAPTER 14 How to Rebuild Your Credit.

Credit Repair Services.

Steps to Rebuilding Your Credit.

Formula for Paying Off Credit Cards.

CHAPTER 15 Is There Life after Financial Disaster?

How Do I Avoid Disaster Again?

Will I Be Able to Invest Again?

Sharing Your Experience with Other Distressed Homeowners.

Consider Becoming a Real Estate Investor.

INDEX.

Read More Show Less

Customer Reviews

Average Rating 1
( 1 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(1)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously
Sort by: Showing 1 Customer Reviews
  • Anonymous

    Posted February 3, 2013

    Hunter

    Goddamnit.

    Was this review helpful? Yes  No   Report this review
Sort by: Showing 1 Customer Reviews

If you find inappropriate content, please report it to Barnes & Noble
Why is this product inappropriate?
Comments (optional)