Mortgage Negotiation Using Debt Reversal

As first time homebuyers, my husband and I did not have much of a background in negotiating mortgages (before I read Debt Reversal by Robert Allen). Of course, that was not the first thing on our mind. We were very concerned about making minimal compromises once we found our dream home. It was not an easy quest. We probably saw upwards of sixty homes but nothing felt just right. Our real estate agent deserves a medal for accommodating us through this process. A house either did not have the square footage we needed, the yard we needed or it was out of our price range. It was very frustrating, to say the least. After months of searching within a particular area, we finally expanded our search radius and, sure enough, we found our dream home within a week.

This was our perfect place: From the updated kitchen, to the wood floors, to the large backyard for our dog to run around in, it just felt right from the moment we walked in. After a tense bidding war, the seller finally accepted our offer. What a relief! I had already basically moved in, in my mind, so I would have been heartbroken had we not gotten the home. After such a long search we pretty much stretched ourselves to make sure that we got this house no matter what. We did not want to keep looking around. It was not until after closing and our first mortgage payment was due that I realized we might have gotten in a little over our heads. We agreed to pay a little higher than we had originally intended but it seemed worth it at the time. We knew we would have to sacrifice a bit but at least we would be living in our dream home and our exhaustive search was over, right?

Wrong. Sure, I love our house and I do not regret that we are living here but we might need to renegotiate our mortgage. It is getting harder and harder for my husband and I to continue to make ends meet. We discussed the idea of mortgage negotiation but I did not know if this was a real viable option so I have been doing some research online. I came across Robert Allen’s Debt Reversal book and the techniques he mentions seemed promising. I was particularly interested in the “free money” he mentions on his site. I had no idea that the government has so much money that is left up for grabs. I only wish that we had done our mortgage negotiation with debt reversal, before we decided upon a final offer price. Hindsight is always 20/20, they say, so I guess it is just live and learn time. This is only our first home together and I know that someday down the line we will be looking for a new home again. Probably a larger one, if we decide to expand our family. Now that I know better, I plan on conducting our mortgage negotiation using debt reversal.