Partials – The Secret Weapon to Underwater Mortgages

Almost 1 in 5 owe more than homes are worth, screams the headline from Time Magazine. Across the nation declining property values are creating negative equity with some hard hit areas like Las Vegas reporting a 1 in 2 chance of being underwater with a mortgage in excess of property value. Mortgage lenders are reeling from increased delinquencies and mounting losses as borrowers opt to just walk away.  While the seller-financed industry is not immune, it does have a secret weapon for dealing … [Read more...]