Short Sales...and Pork with Passion
Short Sales first...
To say they are challenging may be a slight understatement...
No matter how many of these we do I still get an immense feeling of satisfaction when we get an approval letter from a bank or better yet... from 2 banks.
Many questions, tactics, approaches surround short sales. And in spite of new regulations they seem to move thru the system sporadically. That said, I love em. There is little else (in my opinion) in this industry that brings this sort of gratification from assisting others.
Helping a distressed homeowner get out from underneath a situation (divorce, job loss, etc...) and keep them from facing foreclosure is extraordinarily emotional and bringing a positive result to the table is the best outcome in an otherwise negative situation. The current transaction we wrapped up today basically consumed most of the last 7 days of my life...plus a large chunk of the last 3 months. It was in the hands of the foreclosure attorneys-- and it closed with literally hours to spare on the date set for the foreclosure sale. Mind you -- they are not all this dramatic but they are all emotional and liberating. To date (10.5.10)we have managed to keep over 1 million in property off the foreclosure books in O'Fallon IL alone. If things continue, that number should reach 2 million by the end of the year...OK much of this depends on the banks.. but one can hope.
The numbers are still staggering and will continue to rise.
"Today, nearly 1 out of every 6 homeowners in America is behind on mortgage payments. These are tough and frustrating times. Now more than ever, it's important to identify your options. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged"
Actually that quote may be a bit understated and with the new wave of mortgage rate resets on the horizon they will surely not decrease anytime in the immediate future.
For more info on this click here
As promised and on a far lighter note, last weekend was the annual "Pork with Passion" event in downtown O'Fallon. A bit of video follows.
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