Many people have found the current housing situation to be extremely frustrating. Buyers can no longer qualify for mortgages the way they did several years ago. Sellers have to wait 6 to 12 months to get an offer and many times the wait has been in vain because the offer is too low and they will not or cannot accept it because the offer isn’t enough to pay off what they owe.

So the dilemma continues. Prospective buyers are throwing their hard-earned money away on rent when they could be building equity, and sellers are stuck in properties that feel like anchors around their necks and continue to ask themselves, “How do I sell my house fast jacksonville?” They just want out.

Many of the people I talk to who want to buy a house fear that by the time things turn around and they can qualify, interest rates will have risen so far that they won’t be able to buy much of a home. Everyone loves the feeling of freedom you get when you buy a house. You’re the one who calls the shots. You get to do whatever you want without the fear of the landlord coming down on you. If you’re a renter unlucky enough to have a landlord who won’t fix anything or is losing their house through foreclosure it leaves you sitting in a very vulnerable and uncomfortable position.

There are way too many homeowners who have experienced a downturn in their incomes. When they bought the property, they could afford the payments but because of circumstances they no longer can. They’re stuck underneath a house that they can’t get out from under. Many sellers are afraid they will never be able to buy again if they go through foreclosure. Actually, foreclosure doesn’t carry quite the stigma it has in the past simply because so very many people have gone through it. If you do lose your house through foreclosure there are lenders who will approve your application for a mortgage after as little as 3 years. And after learning such tough lessons, the next home you buy should be a much easier venture because you realize the possible pitfalls.

Several people I know who have let their houses go through foreclosure were very surprised that they ended up in much better homes. Sometimes you just have to let it go. Rent for a while until you’re standing on solid ground again. If you’re completely against the idea of allowing the foreclosure, negotiate with a buyer to get you caught up and take over your payments. You will want to make sure you are dealing with a qualified buyer who can make good on the offer because if they default you will end up right back where you are now. There is a chance the lender might call your note due, but the reality is that lenders do not want your house, they are in the money lending business. The foreclosed houses they carry as inventory are seen as a detriment because they have taken a loss which is why so many lenders are now out of business. Your lender wants you to make good on your contract so they can lend more money to more people.

For all of the would be home buyers in the marketplace, whether you are a first time home buyer or not, there are many sellers who will finance the transaction for a short period of time until you can qualify for a mortgage. It gives you the benefit of home ownership now and will make qualifying for a mortgage easier because you will have demonstrated your ability to pay. Be sure you are able to make your case as to why a seller would want to enter into a contract with you with proof of income and references.

We will have a much easier time getting through this tough housing market when we all work together for solutions and think outside of the box. If you have an unwavering desire to get your house sold or buy a house, a way will be found. Just don’t take no for an answer.