Many Homeowners are losing their homes. It is a very sad situation across the country. As a buyer, you can help these people and help yourself at the same time. If a homeowners gets bank approval for a short sale and someone buys their home, this is a saving grace. The credit hit is around 140 points on a home owners credit score. This is much better than a full blown foreclosure which cause the credit score to plummet around 280 points.
Buyers can be in a position to pick up a home thousands, tens of thousands under market value. Famous investors across the country such as Donald Trump, Robert Kyosaki and Mike Watson all profess that a down market is a good market. Buy low, hold and sell later. If you are thinking of buying a home and are a bargain shopper, now is the time. |