Many people who purchased homes from 2004 to 2007 are finding that they owe way more than their home is worth. This is for those people, the hard working middle class people who are reliable and self sufficient. They are finding it harder and harder to make enough to pay the mortgage and keep food on the table. There is a way out, it may be painful but, the banks and financial institutions are beginning to realize that it's not your fault. You can short sale your home, this means selling for less than you owe and the bank taking this as full payment for your loan. This also will cost you nothing out of pocket, Do Not, use a company that charges an upfront fee or any fee for that matter, do not sign a promissory note, all of the companies that are doing this are making money they do not deserve. All you need to do is list your house, get a contract and follow the formula provided by the bank. The Realtor gets paid by the bank and the closing company gets paid by the bank. So don't panic, talk to a Realtor and we can get you going in the right direction.
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