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Hollister Short Sales: Do the Problems in Greece Affect Us?

Hollister CA – The Greeks are finding themselves in hot water. They have maxed out their credit.

Click here to discover how other sellers successfully executed a short sale and avoided foreclosure.

The government borrowed money and is having a hard time paying it back today. Here is what most people don't understand about how a national economy works. When the government reduces interest rates to boost the economy and spending, it's actually only acting as a co-signer on the loan.

Here is a real-life comparison. Let's say a wealthy person has lots of kids. I'll call him Mr. Wealthy. To boost his kid’s economic activity, he lends them money at 1% interest. However, because he has so many kids, pretty soon he has lent all his own money. So he starts borrowing money from someone else at 6%.

Pretty soon he has maxed out his credit. In addition, he is also paying the difference in interest payments between 1% and 6% each month. That difference is almost ready to eat up his remaining savings. After he runs out of money, he'll be broke.

Let me ask you a question. How much longer will his kids be able to enjoy below-market 1% interest rates? It doesn't sound like much longer to me.

This is what happens when a government with a good credit rating borrows money and re-lends it to citizens for below-market interest rates. It sounds to me like Greece borrowed a lot of money from foreigners and is now having a hard time repaying the debt. A bailout from Germany, the EU, and the IMF hasn't stopped the country's problems yet.

Further, these bailouts don't look like they will amount to anything other than a short-term band-aid. Many say that when Greece does default, it will send shock waves through the global economy. Who really knows? Either way, it's still a good idea to get rid of upside-down debt with a short sale.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at israel@ighomes.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (831) 636-8858.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification?Our Hollister loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail to israel@ighomes.com to request a Free Copy.

Or, click here to request a copy.

Thanks for reading this.~Israel Gonzalez.

Israel is a Real Estate Agent at Beale Properties.

Phone: (831) 636-8858. israel@ighomes.com.

View My homes for sale at www.bestREOhomes.com.

Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.

Important Notice

Israel Gonzalez, Beale Properties, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Gonzalez's personal views and do not reflect the views of Beale Properties.

This information on "Hollister Short Sales: Do the Problems in Greece Affect Us?" is provided as a courtesy to our readers to help them make informed decisions.


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