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Don’t Foreclose on Your Future! – Real Estate – daveramsey.com

February 10, 2011
Sign of the times - Foreclosure

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This article by Dave Ramsey puts a great perspective on your home as an investment.  I love the line.. “Walking away from your mortgage now is the equivalent of selling your stock portfolio at the bottom of the market.”  However, if you are going to move up, now couldnt be a better time to buy- consider this example:

  • You paid $150K, your home is now worth $130K = $20K loss
  • You purchase a home for $250K that was once worth $290K = $40K gain

$40K gain – $20K loss = $20K NET GAIN!!  The higher the home price, the larger percentage of loss was experienced.  That’s why moving up is a great decision to make right now.

He points out statistics such as:

  • 27% of homeowners with mortgages owe more than their homes are worth

and

  • A 2009 study said about 25% of foreclosures are so-called “strategic” defaults—that translates to 700,000 of the 2.8 million foreclosures initiated in 2009.

We are an Endorsed Local Provider for Dave Ramsey and are aligned with his truths and philosophies- Give us a call now if you would like to see how you can benefit from this once in a lifetime real estate market.

Don’t Foreclose on Your Future! – Real Estate – daveramsey.com.

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