Options When Your Mortgage Is Upside Down

  • Authors
  • Chris Lauer

Table of contents

  1. Front Matter
    Pages i-xix
  2. The Real Estate Market and the Underwater Mortgage

    1. Front Matter
      Pages 1-1
    2. Chris Lauer
      Pages 3-8
    3. Chris Lauer
      Pages 9-14
  3. Expert Advice on Your Underwater Mortgage

    1. Front Matter
      Pages 15-15
    2. Chris Lauer
      Pages 17-23
    3. Chris Lauer
      Pages 25-46
    4. Chris Lauer
      Pages 47-62
    5. Chris Lauer
      Pages 63-74
    6. Chris Lauer
      Pages 75-90
    7. Chris Lauer
      Pages 91-110
    8. Chris Lauer
      Pages 111-126
    9. Chris Lauer
      Pages 127-142
  4. The Real Estate Market: An Overview from the Experts

    1. Front Matter
      Pages 143-143
    2. Chris Lauer
      Pages 145-171
    3. Chris Lauer
      Pages 173-188
  5. Part IV Housing: Fannie, Freddie, Legal Issues, and Government Programs

    1. Front Matter
      Pages 203-203
    2. Chris Lauer
      Pages 225-237
  6. Part V Appendices

    1. Front Matter
      Pages 239-239
    2. Chris Lauer
      Pages 241-250
    3. Chris Lauer
      Pages 251-256
  7. Back Matter
    Pages 257-263

About this book


Just about every month, housing values in the U.S. fall. That, in turn, increases the number of people who owe more on their houses than they are worth—either trapping them in homes they may no longer want or putting them in danger of financial catastrophe if they lose a job or are otherwise unable to meet the mortgage. Underwater: Options When Your Mortgage Is Upside Down offers valuable advice to homeowners on ways they can unload a house they no longer want, save a home from foreclosure, or undergo foreclosure and start anew. The book offers smart advice from lawyers, bankers, real estate agents, personal finance experts, and homeowners who have seen the foreclosure process firsthand, as well as those who have been able to save their homes through loan modifications and other creative methods. Those faced with tough choices will find invaluable guidance to help them make well-informed decisions while managing the emotional fallout each brings.

Many of the eleven million people in the U.S. now facing the “underwater” dilemma wonder: Is staying put the only option? What if I can’t pay the monthly mortgage bill? Can I save my home? Underwater: Options When Your Mortgage Is Upside Down outlines the options—when foreclosure is a good idea, how to best protect the equity you've built up, the financial repercussions of going into foreclosure, strategies for renegotiating a loan, taking advantage of government programs designed to keep you happily housed, and more. Veteran financial journalist Chris Lauer provides the facts, ideas, and advice that can help any underwater homeowner—especially those facing foreclosure—make smart decisions for a better future.

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