How to Sell MY MN House Cash or Seller Financing offer | We buy Houses

Sell my MN home as-is fast cash before the Short sale home tsunami

Sell my MN home as-is fast cash before the Short sale home tsunami

As of late December 2020, the question is will we see a tsunami of Minnesota short sales in housing in mn real estate over the next couple of years after seeing such a hot real estate market for so long.

Many people have been building up equity for years and have been making great annual income and paying down their mortgage (principle balance) and may occasionally do a rate-term refinance and keep the equity inside of their house.

But let’s focus on those who have owned their houses for a shorter period of time like 1-3 years who paid a very high price for their home because of where the housing market has been priced recently. They haven’t had time to pay down their balances yet.

Let’s go over some trends that are showing the narrative of mortgage balances climbing over time, without principle reduction and increased equity.

Let’s say in the near future that home prices become more stable and flatten out and don’t keep escalating in price like they have been.

If appreciating is no longer a variable that a homeowner can count on let’s look at the variables that COULD cause a homeowner to be over financed, underwater, and have no equity in their home making them a strong candidate for a short sale with their lender.

What if I’m in Forebearance on my Minnesota house

Right now as of March of 2021 we are about to see many Minnesota homeowners who have been renewing their forebearance plans with their bank and they are almost at the one year mark as of March 2021.

I just watched a YouTube video in the last hour that’s now telling me that there now could be another 1 year forebearance plan to opt-into which makes me wonder if this will happen for mamy more years causing a bottleneck and pipeline.

I just watched another YouTube video about the mortgage relief bill from Randy Patrick about a 5 year extension on the taxable event like the 1099-c that will come from the wave of Minnesota short Sales and foreclosures coming up.

The government knows there will be millions, that’s why they are putting this information out there to get more mn homeowners comfortable with selling.

When you either have all of the arrears due now or put the missed payments on the back of the mortgage principle balance you will see your mortgage balance climb and of the market goes flat it will shrink the equity.

I remember a similar phenomenon occurred with the negative amortization loans before the crash.

You see what happens is people need to live off of money today just to get by with their bills and expenses, but their balances continue to grow and once real estate flattens out or goes down in value, before you know it, you are upside down on your house as a mn homeowner.

How do I Refinance my mn home with a climbing balance

I have heard of mn homeowners who Refinance to deal with their late payments to avoid defaulting or foreclosure and the new finance gives them a month or two to catch up, maybe tacked onto the back of the loan and they hope for a cheaper monthly payment, but with late payments they may not get a good interest rate as a lender could deem them a higher risk.

In addition when a homeowner is on a tour budget or living paycheck to paycheck and they desperately need a cheap monthly payment at the expense of refinancing every 6-12 months with added Refinancing annual fees, it goes onto their mortgage principle balance and it keeps growing.

Each time they refinance they start the amortization chart over on the 15 or 30 year mortgage, so they aren’t actually getting ahead at all. This refinancing can also cause a lot of Minnesota homeowners to have their mortgage balance increase.

Another thing happening is due to business closures, unemployment, layoffs, furloughs and other difficult situations homeowners are doing ‘cash out refinances’ at higher loan to values leaving shrinking equity.

This equity gap will shrink more as home prices flatten and go down. Plus many refinances appraisals are automated and don’t look inside the house, or account for the major deferred maintenance inside the house.

This leads us to Deferred maintenance where homeowners leave the house unmaintained for years either As the homeowner or the tenant caused destruction to their rental home.

Due to rising inflation, the cost of heavy deferred maintenance, the rising cost of supplies and labor a homeowner can see their equity shrink very quickly.

What if my

MN House goes down in value

Another possibility is when houses correct or crash and go down in value. There are numerous reasons for this from rising unemployment, a shrinking qualifiable buyer pool, to higher interest rates, tighter lending, the fed quits buying mortgage back securities, or Inventory goes way up.

The unemployment from the shut down economy and business closures, retail, restaurant and airline sectors, are laying off many people, fewer buyers means Minnesota housing inventory rises and prices become more competitive and drop.

The lenders are already tightening, if the fed quits buying mortgage back securities and the real risk is factored in and interest rates need to rise, more of a down payment is needed then fewer buyers will qualify and we will see inventory climb.


We may find that because Houses were found to be in such low supply for awhile that houses were frantically overbid with appraisals that slid through for way too long and the pricing never made sense in such a strange environment and may snap way back.

Minnesota home Foreclosures

When a homes mortgage gets delinquent they accrue a lot of extra fees from mortgage, insurance, property taxes, and home owners association fees that add up a lot adding to the mortgage balance often leaving little to no equity in the house.

Banks have been known to have reserve requirements of an 8:1 ratio when they have non-performing loans on their books so they will need to unload and sell their inventory of homes on the books (the notes) quickly.

I’d prefer to hear from you before you lose all of your equity or get behind on your payments or even get into foreclosure.

Once you get yourself in a situation like this you have fewer options as refinancing becomes much tougher in a tight lending environment, you may not have a job, you may have higher interest rates, no equity, so the LTV will price you out, late payments will trash your credit and many more variables that don’t work in your favor.

You could possibly sell your house for cash if it cash flowed for an investor, looked like a good Airbnb property or sell your home with seller financing with very creative terms.

When you are stuck and in a bind this will probably make a lot of sense for you to not lose even more money and ruin your credit even more.

In order to have that important conversation that you need to have to weigh your options I’ve provided an article and link below to go over the many scenarios as a home seller and what you can expect from your text and phone call.

In addition I’d love to see you succeed and get a second chance to buy on a rent to own, contract for deed, do house hacking, rent out some rooms, or possibly rent out part of a future house through Airbnb.

  • Often after a foreclosure, bankruptcy, or short sale a lender will make you wait two or three years at a minimum before you can buy another home with bank financing.
  • Those differ from FHA to conventional financing. Of course you can buy a rent to own, or contract for deed with bad credit, foreclosure, bankruptcy, or short sale on your record.
  • This seller financing gives you a chance at a fresh new start to make a difference for you and your families future.
  • You will need some money upfront and I have found $20,000 to $50,000 down payment is often suggested so you are competing with so many others in a similar situation when the market crashes.
  • Often these contract for deed owners are self-employed business owners, but a nice size down payment is recommended. To learn about buying on a minnesota contract for deed click here
  • If you let me introduce you to some smart Minnesota investors that you’ll find that you can have a pretty bright future with monthly cash flow and stable income from Airbnb, or renting out rooms as a hedge against the future of the US economy with all of the uncertainty of future virus strains, complete economic shit downs, unemployment, and layoffs.

    You don’t want to depend on the government in your future from tax breaks, social security, unpaid pensions, hoping on a tiny stimulus payment, or unemployment payments come in keep starting and stopping based on when congress or the senate decide.

    That’s not any way to live. Will their be an eviction moratorium of will you compete with millions of others on the street, get stressed and end up with a weak immune system in ICU.

    We want you to be mentally, physically, and economically healthy into the future to make sound and calm decisions. Don’t try to take on the weight of all of these burdens all on your own.

    Do it for your family, make the call to make a better fitore for your family, at least do it for them.

    Don’t let your spouse and kids stress out and lose sleep every night wondering if they will be outside homeless in the cold frigid Minnesota weather.

    Take action today and humble yourself and reach out by text or phone at my number in the Minnesota home seller article below.

    If right now you feel stressed, anxiety, pressure, are losing sleep, arguing with your spouse that’s a clear sign that you need to do the opposite of what you’ve been doing and get some advice and guidance of a different perspective.

    I know investors that own homes, but homes, work with banks and have 20+ years experience and some creative ideas that you haven’t thought of yet.

    I can introduce them to you, but only if you reach out to me, so that I know who you are. After talking to the investor if you don’t think that they can solve your specific housing problems, than you don’t ever have to talk to them again, so no risk to you.

    If you have many great options than go try those out this week, but if you are still reading this I’m guessing you are slowly realizing and accepting that you are running out of options. The truth is that you are only running out of options through your stressed out survival limited thinking.

    When you talk to an investor who’s worked with people just like you for over 20 years you will notice they have many fresh new ideas and perspectives that you didn’t even think of because you don’t have 10,000 hours and 20 years of experience like they do.

    Keep in mind also as the real estate market gets tough and many people like you are dealing with this into the thousands than you will have a very large supply competing with you to be helped and looking for a housing solution and the very experienced investors that I know only have so much time and a line will build up over months as more and more homeowners like you find themselves in this situation.

    No reason to delay at least become top of mind and get to the top of the list by being one of the motivated sellers who take action.

    Take action and call or text right now.

    If any of the above scenarios sound like you as a homeowner and you just want to get out and you may be in foreclosure, have zero equity, you feel stuck, you feel you have few options, your Bank isn’t budging and you need to know how to sell your house for either cash or seller financing please text or call me at my phone number by clicking this article about selling your Minnesota home when you are motivated.

    If this sounds like you, click here

    “I’m ready, I’ve decided it’s time to sell my mn home as-is, fast cash offer!”

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