“Still Lots of Properties in Connecticut Underwater”
Many parts of the country are experiencing increased values and some are seeing values that exceed the highs that were reached in 2005-2007.
In the below situation, there is currently an FHA loan on the property and I can refinance the current debt with their streamline product and lower their interest rate by two percent. That means I can cut the monthly loss in half.
Joe, you were referred by our banker friend XXXXXXX, who said great thing about you and he thought you could help. Between the condo not being nearly worth what I still owe, and my property taxes recently going up by over 2x's what they used to be...we're in real trouble with the property. I'm lucky enough to have continuous tenants but the rent I can charge simply doesn't cover what I'm paying out anymore. We're netting around a $700 loss per month.
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Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.