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Northeast OH Short Sales: Do the Problems In Greece Affect Us?

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

Click here to discover how other sellers successfully did 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, they are 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 of 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 their problems yet.

And it doesn’t look like it will be anything other than a short term band-aid. Many say that when Greece does default it will send shock waves thru the global economy.

Who really knows? Either way, it is 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 and get back on your feet. Send me an e-mail at iandymorris@gmail.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 (440) 348-5500

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

Thinking about a loan modification? Our Northeast OH loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Andy Morris.

Andy is a Real Estate Broker at Realty Trust Services.

Phone: (440) 348-5500. iandymorris@gmail.com.

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

Andy Morris specializes in loan modification assistance and short sales in Northeast OH. Northeast OH Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Northeast OH Short Sales. Northeast OH Realtor, Northeast OH Stop Foreclosure, Northeast OH Foreclosure Prevention, Prevent Foreclosure Northeast OH, Northeast OH Foreclosure Defense, Northeast OH behind in Payments.

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