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Homeowners who had underwater mortgages
Home prices have appreciated and many homeowners who had underwater mortgages now have the opportunity to sell their homes. The economic collapse of 2008 have left many homeowners owing more money on their mortgage balances than what their homes was worth. Many homeowners thought that they could never have the opportunity to sell their homes in their lifetime. However, fortunately, home prices have appreciated year after year in many parts of the country. Florida, Illinois, California, Washington, Wisconsin, and Indiana have seen double digit appreciation in home prices. Some areas in the country, real estate prices have appreciated by more than 50%.

Condotel units are making a comeback due to Condotel Financing. Many Condo Hotel unit owners were hit hard in Florida, Illinois, and California due to the real estate market crash of 2008. Due to the real estate and market collapse, Condotel Financing came to an abrupt halt and all major banks stopped originating and funding condotel mortgage loans. Now, with condotel financing back, condotel units have been appreciating and those condotel unit owners did not have to limit showing their condotel units to just cash buyers of condotel units.


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