Hastings, MN.
Many homeowners are currently living with this reality. Their income is down. Expenses are up. They are robbing from Peter to pay Paul. Some are even borrowing against their 401K’s to make house payments – hoping they will get a new job the next month, and then the next month and then the next.

Meanwhile, they keep hoping that house prices will go back up. Then they could sell this home that is starting to feel like a heavy burden around their necks.

It is not a fun situation going out to peoples’ homes anymore. We don’t get to tell many people good news very often. Prices are down and that is the new reality. We wish we could help you sell it for more –but we need to be realistic. We don’t do anyone any good to tell you what you want to hear if it is not the truth!

Even if a seller found a buyer who was willing to overpay for your home – it wouldn’t appraise for the buyer to get a loan on it. Appraisers are stricter & stricter – as they have caught a lot of the brunt of the blame.

What are sellers to do? Well, it seems that sellers are falling into 2 categories in this market.

#1 -They make the decision that the home they are in is good enough for their needs and they will stick it out until values are up again. OR

#2 -They are giving up & deciding for some reason or another that they have to get out of the home they are in – some way or another.

Occasionally – we find some normal sellers who have the means to come to the table with money to get out of their home – or who are just willing to take a loss to move on – but it is becoming more & more rare.

To those who have decided you can stick it out in your home – enjoy your home. Yes – your value is down – but it is your home & someday you won’t be upside down anymore.

So – to those of you who have decided that you can no longer keep living for your house payment & want to simplify your life. We hope to be able to help you.

Our best suggestion is to call us – let us help you know the pros & cons of decisions you are about to make. Don’t just throw caution to the wind & make rash decisions at this time. There is too much at stake. You may feel like you are trapped. You may feel like just giving up. Many times you feel that way because you don’t have answers – you will feel more in control to know all of your options.

Have you checked in with your bank about doing a loan modification? We know several people is has worked for. One of our past clients is saving $1100/month for now.  But- then we also have several past clients we have heard horror stories from. The stats aren’t great on success stories – but we want every seller to check all of their options!

We have a guide available for you for free if you want to check our your Loan Modification options. Just email us at lundbyteam@edinarealty.com & we will email it over to you. It’s worth checking into.

If you tried that route and still want to move – call us right now at 651-216-4676.  Last quarter – we heard that 44% of the sales in our company were Shorts Sales!   Our goal is to educate the public on what they can do and what their options are.

The best thing for you to do if you are starting to get behind or know that you will be in the near future is to call us immediately.

What does that cost you to know all of your options? Nothing!

Everything you tell us is confidential! Let us sit down with you & look at your unique situation.

Don’t listen to people who don’t truly deal with this day in and day out – it is too important of a thing. Call us right now at 651-216-4676

Thinking about a short sale? We can help you short sale your property and help you get answers to your questions. Send us an e-mail at lundbyteam@edinarealty.com . We will contact you for a free consultation.

When we talk, we will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call us at 651-216-4676

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

Thinking about a loan modification? Our Hastings 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, The Lundby Team – Gerri, Christy & Bill.

The Lundby Team are Real Estate Agents at Edina Realty. Minnesota Short Sales Realtors:

Phone: 651-216-4676. lundbyteam@edinarealty.com

The Lundby Team – Gerri, Christy & Bill

View Our homes for sale at www.lundbys.com

Suggested Reading

Questions to Ask Before Hiring a Short Sale Agent

Should you Stop Making Payments During a Short Sale

How do I get back on my feet after a Short Sale

Will I Owe a Deficiency after a Short Sale

What are the Tax Consequences

Frequently asked Questions about Short Sales

How to Stop Harassing Debt Collector Phone Calls

Are you the Causalty of a terrible Loan Modification Process

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IMPORTANT NOTICE: Edina Realty is not associated with the government, and our service is not approved by the government or your lender.  Even if you accept this offer and use our service, your lender may not agree to change your loan.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are The Lundby Team – Gerri, Christy & Bill’s personal views and do not reflect the views of Edina Realty.

This information on What do you do if you owe more on your home than it’s worth is provided as a courtesy to our viewers to help them make informed decisions.