“Losing $700 Per Month is Not Fun”
Our bank gave me your contact information and he thought you might be able to help.
I own a condo that is not worth nearly 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. Currently my net loss each month is nearly $700.
It gets worse; the current mortgage is $163,000 so I decided to have an appraiser do a comp check for me to make sure a refinance was possible. Unfortunately they’re not even close to refinancing as the value is estimated at half of the current debt.
I wish I could help but a refinance at this point is not possible. Not fun to have to tell a client that I can’t help them and I’m not even sure how much longer she will have to wait. NOT FUN!
Image courtesy of digitalart/freedigitalphotos.net
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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.