Is Foreclosure The Best Option? Take My House—Please

Restored from the Empower Network archive (2011–2017), lightly edited to meet our current advertising standards. Views are the original author’s.

You know things are getting bad when a homeowner’s best financial option is foreclosure. Once a person purchases a house that costs far more than they can afford, options become limited. As this trend continues, and the real estate market becomes flooded with unsalable inventory, the value of these homes plummets. Many people in this situation cannot even sell the property at a loss and are therefore paying a mortgage they cannot afford for a house with far less value than they started out with. Their credit suffers, their cash flow suffers, and on top of that they have the fear of losing their residence through foreclosure.

Foreclosure Consequences

A common practice in this situation is to simply walk away and let foreclosure happen. The reasoning is that it may be far easier to start over than to continue to throw good money after bad. This of course has caused a glut of foreclosure homes —by some estimates six or seven times what they were even just a year ago. The problem for the homeowner however is an indelibly blemished credit history and possible unfavorable tax consequences.

Foreclosure Crisis

For the realtor the volume of foreclosures has simply served to poison an already toxic real estate market. As the glut of inventory continues to rise, property values continue to fall, and the mortgage market dries up, it is becoming much more difficult to sell houses. Unfortunately, this trend by all accounts is expected to continue well into the foreseeable future.

For this reason, many real estate professionals are taking on Internet marketing businesses. Similar to the real estate business, by finding the right online opportunity a real estate professional can earn much higher than average income, along with the comfort of working from their own home. Realtors are a unique breed. They typically earn substantial income, and work very flexible—if not sometimes bizarre—hours. They have the ability to understand a complex transaction, and also understand sales and marketing. These are traits and skills that will enable them to be successful in an online internet marketing business. The best approach is to find a turnkey system that enables the new entrepreneur to get up and running very quickly and start turning a profit almost immediately. An added plus—online marketing businesses are recession proof.