Behind every home that's sold is a personal story, isn't there? This was no exception.
Barbara had purchased her home less than five years ago and its value had depreciated substantially since. She was also having difficulty making ends meet with her current employment status because of injury coupled with adjustments to her loan; not a situation she had ever envisioned for herself. She'd been working as a registered nurse for the County of San Diego for several years, and was ready to retire within the next two years so she could enjoy fulfilling some of her dreams. It was easy to determine that if she wasn't making ends meet working full time, how could she make it in retirement?
While we suggested that she try and short sale the home, we first advised that she consult with an attorney and a tax planner to get a thorough evaluation of the situation. The attorney felt that she had a good case in pursuing the short sale.
We recently closed escrow on her home and she is now renting. Five years ago when she bought this home she didn't envision herself renting or having her credit hampered because of a short sale. In fact, she's even a bit introspective about missing a few house payments. Sometimes things aren't so black and white, and I'm truly empathetic for her. I was glad to guide her through this uncharted territory, reassuring that her situation is not uncommon and she wasn't alone. No, this wasn't her plan for retirement, but now her circumstances are manageable and she has hope for a fresh start.
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Eugene Adan, ABR, GRI, e-Pro, Broker; Adan Properties, Contact us for more information about whether to short sale or other real estate information near Carlsbad, CA and the surrounding areas. You can reach us at (760) 720-9710 or me @ eugene@AdanProperties.com.
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