Home Buying in Duluth>Question Details

Johnpaul, Both Buyer and Seller in Duluth, MN

are house isn't worth what we owe and we need a bigger house?

Asked by Johnpaul, Duluth, MN Fri May 25, 2012

we have are house for sale and at the price we have it listed for were going to pay 20000 out of pocket. we can't go any lower

Help the community by answering this question:


Hello Johnpaul,
Good morning.

Did you sell your home yet? How did it turn out? Are you still in the market to buy a new home? If so, I would love to see if we can help you out. We can do loans down to 600 Credit Score. We also don't need 3 trade lines like many banks require. I would like to see if I can help you out with a home mortgage. I will try and make this a very easy process. Please let me know how to help out.
Thanks much.
Josh Lund
MN District Branch Manager
NMLS # 387408
Gold Star Financial Group
Mobile: 612.802.3265
Office: 952.884.5442
eFax: 877.666.0007
0 votes Thank Flag Link Mon Dec 7, 2015
Hi Johnpaul,

It wasn’t that long ago when you could put a for sale sign out on your front lawn, and Bing, you had a firm offer; which closed a short while later making you a tidy profit in the process. With that said, my partners and I have a special new program that allows anyone to sell, even if you have little to no equity. We can be flexible on the closing date and we can even pay ALL of the closing cost for you. We are well qualified to buy your home and very interested in doing just that.

We'd like to speak to you about purchasing your home and NOT as a short sale either.

Please contact me at 407-796-1496 to discuss further.

Normalina Martin
Real Estate Investor
0 votes Thank Flag Link Mon Jun 18, 2012
Hi JohnPaul, You have options as a homeowner and seller. I'd be happy to point you in the right direction for selling your home, short sale, or loan modification.

Brok Hansmeyer, Realtor
0 votes Thank Flag Link Wed Jun 13, 2012
If I was your agent I would get you in touch with one of my lenders that specializes in this arena. It seems to me on the "outside" that you are kind of flying by the seat of your pants without knowing EXACTLY how you are going to buy a house big enough for your new needs?

Refinance? Rent instead of sell? Short sale versus foreclosure? I can tell you right now there is no way you should be paying $20,000 out of pocket just to sell your house that is the wrong option by about 3 million miles. Our foreclosure laws give you way more protection then you may think.

Do not burn $20,000 of your hard earned money because of bad advice. If you would like a referall from me all you have to do for the 1st step is contact me directly through Trulia.

I look forward to speaking with you soon,

0 votes Thank Flag Link Sat May 26, 2012
Do you have an agent? That's going to be essential as far as advice on how to move forward. Many lenders have relaxed their standard on qualifying for a short sale. It won't cost you anything and it couldn't hurt to have a consultation with an agent about doing a short sale.

And, believe me, Johnpaul, you are not alone in this boat!!! There are many, many sellers who cannot sell for even close to what they owe on their property. Some people are renting out their smaller house and buying while they can still get a great deal before prices start to rise again. We're are already at the tipping point of moving to a sellers market again.

Good luck!
0 votes Thank Flag Link Sat May 26, 2012
How is the rental market in your area?
if you're in the position of selling at a loss, perhaps you would consider renting it out for a few years instead....the question is.........will the rent cover your expenses?

Ask a local agent for this information.

Best wishes!
0 votes Thank Flag Link Fri May 25, 2012
You may need to consider a short sale, and in that case, you will have to rent for a couple of years before you can purchase again. If you decide to go this route, please remember that the choice of your agent is critical... not all agents are qualified to complete a short sale.
0 votes Thank Flag Link Fri May 25, 2012
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