Home Pride Properties, Inc. 770 444-3844

Meet Paul: His HoA Told Him "No Leasing!"

Paul (not his real name) had to relocate for his job. He had planned to sell his house, but it sat vacant for nearly a year.

Meanwhile, home values have plunged in Paul's subdivision since he first put the house on the market. 

So, rather than sell now for a rock-bottom price, Paul decided to lease his house until the market recovers. 

It sounded like a reasonable approach ... until the Homeowners Association (HoA) got wind of his plan. 

Meet Tammy: She Tells Her Bank “No!”

The loan payments were killing Tammy (not her real name) on her trendy, upscale home.  So she found a more affordable home and planned to move into it before her current place became a tightening noose around her neck.

To get a quick sale, Tammy and her Realtor carefully reviewed the recent sales in her neighborhood to set her asking price.  She priced her home attractively and was fortunate enough to find a serious buyer in less than 90 days.

Like many sellers, Tammy was upside-down: She owed more on her mortgage than what her home was currently worth.  So, Tammy submitted a short sale request package to her lender.  After months of waiting for an answer, the lender agreed to accept less than what she owed … with one big catch.

Meet Bill: "Underwater" Seller Searches for a Lifesaver

The Situation

Bill (not his real name) has owned his home for nearly two decades.  He and his wife Amanda have made many memories, raised a family, and built a life in that home.  Like many homeowners, he refinanced his mortgage to cover a few major expenses, including college costs for their daughter Lydia.

Now his monthly payment is too high for him to handle.  Even worse, Bill owes $170,000 on a home that wouldn’t appraise for more than $100,000. That's $70K in negative equity (yikes!).

Bill contacted his mortgage company about accepting a short sale, but was denied because his payments are “too current.”  Bill played by the rules and paid his mortgage and bills on time – even during the lean years when Lori lost her job.  To Bill, it doesn’t seem quite fair that loan modification help and short sale approvals are going most often to those who didn’t pay when promised.