Several lenders holding 2nd mortgages on underwater properties are offering to settle their second mortgages for 10% of the loan amount owed. Not bad, right? Well, such a settlement could be a great move for some homeowners, and a waste of money for others. At any rate, an offer to settle for ten percent of what you owe is certainly worthy of careful consideration!
Consulting with a Real Estate Broker, Attorney, and tax professional might be advisable.
At Bayview Estates Realty, we believe in putting people over profit. If you are interested in selling your home or have any questions, please feel free to contact our office at 516-777-0146.