Metro Home Buyers2515 White Bear Ave #211St Paul, MN 55109 (651) 705-6405

Should You Request a Mortgage Forbearance?

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During these uncertain times, many people are struggling with the question, should I request a mortgage forbearance from my lender.  That is not a simple question to answer unless you know the reasons why you need to request a forbearance and what the ramifications are.

First question is, can you continue to make your mortgage payments?  If the answer is yes I can, then the answer is obviously no you should not request a forbearance.  If the answer is not, then yes you should request a mortgage forbearance. 

If however the answer is yes, but you won’t be able to afford something else like utilities, gas for your car to get to work, food for the kids, medication or so other necessity, then you probable should request a mortgage forbearance from your lender.

What is a Mortgage Forbearance?


Forbearance is when your mortgage servicer, that’s the company that sends your mortgage statement and manages your loan, or lender allows you to pause or reduce your payments for a limited period of time. Read More...


Is Now the Time to Sell?

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The simple answer is yes.  The correct answer is a little more complicated than a simple yes or no.  There are many factors to take into consideration and there are pros and cons to selling at any time.

Here are the top 3 things you need to consider before answering that question for yourself.

  1. Do I/we need to sell right now?
  2. Do I/we need to buy another house when I/we sell?
  3. Why do I/we need to sell?

1) Do you really need to sell right now or are you just thinking about selling because of the high market prices?  There are many reasons to sell, but high market prices is probably the worst reason unless you are an investor.

2) If you need to purchase another house in order to sell, then you will have a hard time in a strong buyer’s market finding a replacement home.  In this case it would be best to find a new home first, then sell your existing home.  The problem is if you sell your current place, you will probably have to overbid on a property to get one under contract to close on your time frame.

3) Why do you need to sell right now? If you have a reason to sell then you will be able to make logical decisions because you have a clear reason.  If you just want to sell to see what the market will bring or to access cash from the property, then you might make some bad decisions because you don’t have a clear reason why.

If you have a clear reason why you have to sell, then give us a call because we have flexible options to might make the process a much more smother transition and most people tell us that it reduces their stress level knowing that they have a buyer that can work with them on their time schedule.