Many people across the nation owe more on their homes than they are worth. Other owners are complaining that their home value is now less than what they originally paid. While most home owners gripe and accept the fate, others are breaking free from convention to creatively benefit from the downturn. While headlines scream that foreclosures are up and values are down, they are also proclaiming that interest rates and home prices are at record lows. With interest rates lower than they have been in decades, some people are purposefully taking a loss on their current home and buying more house with a mortgage that has a lower interest rate than their previous home. Others are buying out their current mortgages, and buying into either a shorter one or one with lower interest rates, saving them tens of thousands of dollars in the long run. While these modern practices never used to be sound financial advice in the past, the current market is now making them a creative option to those not happy with their current housing situation.

Blog inspired by article written by M.P. McQueen featured in The Wall Street Journal and can be seen here: http://online.wsj.com/article/SB10001424052748704421304575383490870014662.html?mod=WSJ_RealEstate_LeftTopNews