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.
How to Sell a House When It's Worth Less Than the Mortgage
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Book Description
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Editorial Reviews
From the Back Cover
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
About 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.
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Most Helpful Customer Reviews
12 of 13 people found the following review helpful:
1.0 out of 5 stars
The authors of this book are AMATURES!,
Amazon Verified Purchase(What's this?)
This review is from: How to Sell a House When It's Worth Less Than the Mortgage: Options for "Underwater" Homeowners and Investors (Paperback)
I bought this book seeking information, but the useful information in this book--which is not great--can be found with a 10 minute internet search. The balance of the book actually addresses the emotion of owning a distressed property. The authors spend a good bit of time discussing religion, which is completely inappropriate for a book of this nature.When I ordered this book I did realize that the authors were trying to cash in on The Housing Crisis, but at the time there were not a lot of books on this topic; and I thought for ~$13 maybe it'll have a few bits of good information. I was completely wrong. This book is not worth the paper it was printed on, and certainly not worth the time it takes to read it. The authors are a married couple with little formal education to speak of--in a state of destitution they discovered they could make a living as real estate agents. With the fall of the housing market they opportunistically began "helping" desperate home owners to dispose of distressed properties. They claim altruism, but their guise is very thin. If you are the owner of a distressed property it would behoove you to hire a competent real estate attorney. Likewise, if you wish to read an informative book about dealing with a distressed property, it would behoove you to select a book written by an attorney or another person of similar credential. I have not yet found such a book, but am actively searching; and you should keep searching as well.
12 of 13 people found the following review helpful:
2.0 out of 5 stars
A very "light weight" reference for a series subject,
Amazon Verified Purchase(What's this?)
This review is from: How to Sell a House When It's Worth Less Than the Mortgage: Options for "Underwater" Homeowners and Investors (Paperback)
The title suggests a book that is very topical today. While that's accurate, the text is very lightweight in its treatment of the issues. The writing comes across as more of a transcript of a radio show conversation between two moderately informed individuals than a serious, well researched take on a serious set of financial issues facing many families. It's ok, but to me the text is more brochure-ware than financial reference or guide.
2 of 3 people found the following review helpful:
4.0 out of 5 stars
A great book to add to a beginners investing tool kit.,
By Paul Thacker (Raleigh/Durham, NC) - See all my reviews
This review is from: How to Sell a House When It's Worth Less Than the Mortgage: Options for "Underwater" Homeowners and Investors (Paperback)
Short Sales is not an easy market to work without correct and complete directions from someone that have experience and are willing to show you how to do it the right way. Dwan is making some very good points and the reader should appreciate the value, especially a begginer real estate investor in todays recession!
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Inside This Book
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Key Phrases - Statistically Improbable Phrases (SIPs):
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loss mitigation representative, initials attest, customize this form, short sale package, above referenced property, doing short sales, loan modification, forbearance agreement, underwater property, hardship letter, bank rep, closing agent, ethical investor, net sheet, deficiency judgment, repair list, foreclosure process Key Phrases - Capitalized Phrases (CAPs): (learn more)
Temporarily Renting Your Home, Financial Trouble, The Short Sale Solution, Bill of Sale, Consider Bankruptcy, Rebuild Your Credit, Palm Beach County, Don't Go Broke Trying, Closing Any Deal-What You Need, Smith Street, Homeowner Protection Agreement, Save Your House, Financial Disaster, United States, Print Name, Get the Highest Possible Price, Move-In Inspection Report Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
loss mitigation representative, initials attest, customize this form, short sale package, above referenced property, doing short sales, loan modification, forbearance agreement, underwater property, hardship letter, bank rep, closing agent, ethical investor, net sheet, deficiency judgment, repair list, foreclosure process Key Phrases - Capitalized Phrases (CAPs): (learn more)
Temporarily Renting Your Home, Financial Trouble, The Short Sale Solution, Bill of Sale, Consider Bankruptcy, Rebuild Your Credit, Palm Beach County, Don't Go Broke Trying, Closing Any Deal-What You Need, Smith Street, Homeowner Protection Agreement, Save Your House, Financial Disaster, United States, Print Name, Get the Highest Possible Price, Move-In Inspection Report Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
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