real estate financing.

[badmomma]

In this market it is getting harder and harder to finance a home. The banker recently told me that there are more changes forth coming and that holding on to my home for another twenty years was a good idea.

Well I am not ready to do that by any means but I am also not ready to take a giant loss on my home either. We want to update the house but I am afraid that we will be spending money that we are never going to get back.

We still owe money on it so it is important that we get the most out of our home when we sell. If we don't we won't be able to buy another home. What are we as homeowners to do? It isn't our fault that the mortgage companies made bad loans but by damned we are going to pay for it for a long time to come.

[flip_it_fast]

It's definitely a tough thing to deal with but thats how it is right now. Homes are selling cheaper than they were. The shame of it is that you still have to pay the price you signed the contract for even though you probably would take a loss on a sale. Thats just how it goes though. Thats why they create a contract for you to sign, so they can be sure they get their loot!

I'm not sure what advise to give you other than you may wan to wait at least a little while before you try to sell.

I'm am sure someone else can offer you better advise than I.