Negative Equity in Oklahoma

Did you know that Oklahoma ranks #1 in states with the least number of homeowners with negative equity in their home. It wasn't too long ago that many people were getting 2nd and 3rd mortgages on their property. This means that they have negative equity. This can be a problem for many reasons, but is especially difficult when you want to sell your property. When you have negative equity many homeowners can't sell their property unless they have cash on hand to pay the overage. When this happens, homeowners shouldn't expect their property to sell for what they have into it. It will only sell for what it is worth. That may be more than what is owed or less than what is owed.

When you go looking for a property remember to find an experienced agent to help you make a wise decision. A good Realtor will show you homes you like but also comparable properties. This enables buyers to see what properties in that price range look like. Without a knowledgeable and experienced Realtor buyers can find that they have negative equity as soon as they buy a home.

For all your Bixby, OK mortgage needs and for questions about negative equity in Oklahoma, contact Karen Heston of BOK Mortgage at 918-230-9432 or visit her website.

To avoid negative equity in your next Bixby, OK area home purchase, contact Darryl Baskin, The Baskin Real Estate Specialists of McGraw at 918-258-2600 or www.darrylbaskin.com.