With a huge number of people underwater on their mortgage payments, a wave of short sales and foreclosures looms on the horizon unless home values start improving. Zillow just released a heat map that shows percentage of homes that owe more than they are worth. They did this by matching the estimated value of a homes to all outstanding mortgage debt and lines of credit associated with the homes, including home equity lines of credit and home equity loans. This data was supplied by TransUnion, a major credit and information management company. The foreclosure crisis has been slow to hit Washington State. But its here now, especially in Western Washington.
For homeowners who are underwater and have a hardship that is making it difficult to make your mortgage payments, there may be other options besides foreclosure. As a Certified Distressed Property Expert (CDPE) I can help you explore your options. give me a call and let me help you.