DISTRESSED PROPERTIES & NEGATIVE EQUITY
What is Negative equity? Negative equity occurs when the value of an asset used to secure a loan is less than the outstanding balance on the loan.
Also, negative equity often occurs when a homeowner purchases a house using a mortgage and then the economy starts to slow or home prices start to drop. After the house purchase, the value of the home decreases below the value of the amount owed on the mortgage, causing negative equity. From that moment on the owner acquires a worrisome FINANCIAL PROBLEM.
“I own an asset with an associated debt larger than the market value of the asset, and in addition I am struggling with the financial conditions currently set to pay it leading to unforeseen stress, burden and hardship.”
So if you are in this situation, unfortunately you have a serious financial problem.
We have a solution of your problem, DO YOU WANT TO ESCAPE OF THIS SITUATION?
In RIDALAW we consider that we have found a solution to reduce the problem, minimizing it’s consequences, or to resolve it definitely.