The family shown does not match the typical person being foreclosed upon, at least in the Georgia real estate market. Here the defaulter owns more than one house and the property in foreclosure is not the primary dwelling.
Another break from reality is that the vast majority of properties in foreclosure have more than one loan. The holder of the first note may very well be willing to renegotiate, but the holder of the second probably has little to no wiggle room for principal reduction, especially if the house owner has negative equity.
The truth is that if a lender tells you and your spouse that you can’t afford to buy the home of your dreams, take their word for it, and don’t buy! Buy what you CAN afford……even if it’s a mobile home.
It’s a very pretty video.
The family shown does not match the typical person being foreclosed upon, at least in the Georgia real estate market. Here the defaulter owns more than one house and the property in foreclosure is not the primary dwelling.
Another break from reality is that the vast majority of properties in foreclosure have more than one loan. The holder of the first note may very well be willing to renegotiate, but the holder of the second probably has little to no wiggle room for principal reduction, especially if the house owner has negative equity.
And where would this “aid” come from?
The truth is that if a lender tells you and your spouse that you can’t afford to buy the home of your dreams, take their word for it, and don’t buy! Buy what you CAN afford……even if it’s a mobile home.