Is a Short Sale Right for You? Read and then Decide!

Posted by Owen McGab Enaohwo on Jul 27, 2010 | View Comments

Real Estate is totally different today than it was just ten years ago, especially because of the “Great Recession”. One thing that has changed is that, more than ever, the term “Short Sale” is now a hot topic that almost anyone paying attention to the news media must have heard. Many sellers who have determined that they can’t sell their home for the amount they owe are now considering doing a short sale instead of allowing the lender to foreclose. But is it always a good thing? How can you tell whether a short sale is right for you? Let’s take a look at some guidelines that will help you decide.

Strategic Default Vs. Strategic Short Sale; which one do you think is the best choice? – Part 2

Posted by Owen McGab Enaohwo on Jul 21, 2010 | View Comments

In my Part 1 of this blog post, I pointed out a new study by Experian that showed an alarming number of homeowners who were electing to intentionally have their homes foreclosed upon by refusing to make their mortgage payments even though they can afford it. This trend which is now called a “Strategic Default” was accelerated greatly with the housing collapse of 2008, when homeowners suddenly found themselves in possession of homes that are now worth as little as half of what they paid for it, their home values have been reduced to the point that they feel like they are swimming in negative equity. Also the mortgage payment for many of these people have become more expensive than what they can pay as rent for a similar house—hence, they have made the financial decision to strategically default, to essentially walk away. Is this the right choice?

Strategic Default Vs. Strategic Short Sale; which one do you think is the best choice? – Part 1

Posted by Owen McGab Enaohwo on Jul 15, 2010 | View Comments

There was an article on the Los Angeles Times website a few months ago that discussed the increasing problem of Strategic Defaults in the United States. I want to tell you why the study cited in the article is right and why this is a growing problem that is gradually reaching crisis proportions in America. Then on my next blog post (Part 2 of this series), I will show you why Strategic Short Sale is the solution.

This LA Times article cited a study conducted by Experian, one of the three national credit bureaus.  They studied the credit files of 24 million Americans and discovered that “homeowners who have high credit scores when applying for a home loan are about 50 percent more likely than low-scoring borrowers to go into strategic default.”

A True Foreclosure Story – Note: the tale you are about to read might be yours!

Posted by Owen McGab Enaohwo on Jun 24, 2010 | View Comments

Painting the picture – You are a homeowner experiencing a financial hardship, you have lost your job and can’t keep up with your mortgage payments. You desperately need to find a solution to the problem because it’s weighing down heavily on you. You can barely function or think properly because it feels like your whole world is crumbling and you need to get you life back on track.

Townhouse For Sale Bowie Maryland Short Sale 11201 Westport Dr Home

Posted by Owen McGab Enaohwo on Apr 29, 2010 | View Comments

This is an announcement for a Townhouse I have listed For Sale in Bowie MD 20720 – Short Sale:

Submit AS IS offers for this Well maintained end unit townhouse, 3 Br / 2 Ba on main level. Its a beautiful home, Hard wood floors, and finished basement with wall to wall carpet and additional rooms.