Mortgage Hope is Important But Facts Should Not Be Ignored

Real Estate Agent with Keller Williams Realty Louisville East (502) 664-7827

If your mortgage payments are unsustainable YOU NEED TO GET RID OF YOUR HOUSE.

Hanging on too long to a lost cause will just clean you out financially and emotionally.

I know this sounds harsh, but I can't even count how many times sellers told me they wish they had met me years earlier. They wish they would not have hung on so long. These are compassionate words, coming from others who walked in your shoes before you.

I help dozens of families each year avoid foreclosure by negotiating a short sale with their lender. The lender lets the house sell for amount short of the payoff. It helps the seller get rid of the mortgage nightmare.

There are many reasons owners hang on too long;

  • The house isn't just bricks and mortar, it is where your children sleep and play
  • You want to protect the down payment from years gone by
  • You want to protect the renovation money and all the blood, sweat and tears you put into it
  • The house WAS your dream house
  • You consider losing the house an admission of weakness or defeat
  • You don't want to be a renter
  • You need to keep the house to retain custody of your children in a divorce

These are all very important reasons to keep your house.


This requires an out of body experience. If you were a loyal friend or relative looking in on the situation;

  • Would you recommend to continue to hope for an unlikely sudden financial upturn?
  • Would you recommend letting go of the mortgage nightmare that is taking your friend or loved one underwater?
  • Would you recommend cutting loose immediately so the rebuilding can start now?

Tough Love

Would you hug your friend or relative and tell them it's okay. Would you tell them they did what they could but the economy and the housing crash took them down no fault of their own, just like it took down millions of others including homeowners, banks themselves and household name brands such as Circuit City?

Would you tell them it's time to let go because you care about them and you don't want them to dig a deeper hole? Would you tell them to let go of the house just to be hurtful, or because you recognize that getting rid of the house is ultimately the best thing to do? Some pain now but peace and greater rebounding strength later.

You Are Strong. You Will Rebound. How Do I Know? Because You Are Reading This. You Are Not Giving Up. You Are Looking For A Solution.

If the house is bringing you down you can cut the line. A short sale is a good solution. It helps you avoid foreclosure and potential bankruptcy. In a short sale you are selling the house, not losing it. There is life after a short sale. You can rent for a while and then come back in a stronger position.

Please don't feel trapped. You have options. 

Posted by



Dave Halpern, Realtor

The Dave Halpern Real Estate Group

Keller Williams Realty Louisville East


(502) 664-7827



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James Loftis - West Palm Beach, FL

Unfortunately these are facts that a lot of people have a hard time realizing. It is even more so tragic that this is hapening to people who were planing on retiring and having equity in there home.

Jun 04, 2011 06:26 AM #1
Patricia Feager, MBA, CRS, GRI,MRP
Selling Homes Changing Lives


I've done several short sales and it's truly an emotional journey for the family. It takes a lot of compassion and tough love to get through it. You have provided a good source of information that every prospective seller needs to know and good information for Realtors who haven't done it. My advice to those who never did it before, contact an expert in short sales, such as Davie Halpern.


Jun 12, 2011 03:24 AM #2
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