Dakota County Homeowners Facing Hard Times and Difficult Financial Decisions

Industry Observer

Help for underwater homeowners

The housing market is a little like a disabled submarine, sinking first fast, then slowly as it finally hits the floor of the ocean.  It has bottomed, and like the housing market, it could lay there forever, or maybe it will be rescued and towed to the surface.  Maybe a few occupants were able to escape as the submarine was sinking.

Underwater homeowners have a relationship to the housing market not unlike that disabled submarine.  Maybe the market has bottomed, and maybe it will recover and propel you back to the surface.  It's a real longshot that either will help homeowners who are both underwater and experiencing economic hardship.  Whether business difficulties or employment has caused the hardship, or if a family situation such as illness or divorce, decisions need to be made.  Time is usually not on the side of the distressed underwater homeowner.

If you are, or if you have a close friend or relative having difficulties, please follow this advice.  The four things that you do not deserve to experience are anger, shame, denial or despair.  They will only make the situation more difficult, maybe even painful, and you deserve better.  Most of us have been through rough times, and they always seem worse than the eventual outcome. 

Personally, I worked for a ruthless corporation for over three decades that too often put me on the street for weeks, months, and once over a year.  I was on and off unemployment compensation, on and off food stamps, and had plenty experience trying to balance finances on the edge of a cliff.  I once had a part time job working as a bill collector for a large department store chain.  The job was offered to me by the collection manager who felt sorry for me, and I was thankful for the opportunity.  Believe me your problems willalso  pass, and you will gain something positive from the experience.

Sometimes loan modifications can help a distressed homeowner, and sometimes a short sale is a better option.  Sometimes there is no course better than letting foreclosure run its course.  Problem is that the wrong choice can be disasterous.  That's why I have assembled a financially distressed homeowner program designed to help you make the best choice.

The program is designed primarily to assist homeowners who choose short sale as their course of action, but only if it makes sense.  Clients first will consult with a Dakota County based real estate attorney who will represent their legal interests and negotiate with the lender to gain, not only an approval, but also an approval that is in the client's best legal and economic interest. 

I will market your home aggressively but discretely.  There will be a yard sign only if you feel comfortable with it, and I will not encourage you one way or the other.  Selling your house is not about getting me more business, it's about getting your life back together.  The first step is to call or email to arrange a convenient time for an informational consultation.  Let's talk.

Posted by

 Mike Carlier  Lakeville, MN





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William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.

The most important thing you said is "Consult".  Many people just go ahead and do listening to people who really don't know.

Everyone's situation is different and what works for one may be a bad idea for another.

Dec 22, 2011 09:46 AM #1
Vern Eaton
Askov, MN
Realtor 651-674-7449

Mike, this is a tough decision for people to  make.  It is more imporant than the actual purchase because it affects so many other part of that person(s) financial future.

Dec 22, 2011 02:50 PM #2
Mike Carlier
Lakeville, MN
More opinions than you want to hear about.

Difficult decisions can be made more difficult or impossible with inadequate information.  The fact that a homeowner finds the idea of a short sale attractive is not necessarily the result of good and qualified advice.  Nobody should agree to a short sale without legal counseling. 

Dec 23, 2011 01:46 AM #3
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Mike Carlier

More opinions than you want to hear about.
Everyone has opinions -- what's yours?