Today I met Carl. Carl's story is one of many, unfortunately.
Carl owns a magnificent home on a beautiful lot in a rural area in Montgomery County, MD. It's a wonderful location with gorgeous scenery yet close to the city. We watched deer out of his kitchen window moving along without a care in the world. Carl has been trying to short-sale his house for over a year now. It's the house he built 20+ years ago, a Tudor-style for which they traveled to England to research. Carl's wife stained all the woodwork/doors. Carl's wife had an art room in which she enjoyed painting with her kids and grand-kids. She was very talented.
Carl's home has received lots of interest and multiple offers. Unfortunately, a couple buyers did not have the patience to wait for the approval. Unfortunately, his lender is B of A. Carl's home should have sold a few months ago. Unfortunately, a small hiccup killed the deal. B of A demanded they start over with their contract - the buyer walked (again). I don't know the whole story of course but since it is B of A we are talking about, no doubt in mind that it was indeed a small hiccup. According to Carl it could have been resolved within a couple of days. Shame on you B of A.
Typically, we like for sellers not to be present when viewing a home. But Carl was different. Carl did a wonderful job giving us a tour of his home - a home that clearly was grand at one point and could clearly be grand again once the right buyer comes along. Like so many Carl was hit hard by the economy, he has a tough time maintaining it now. After enjoying their home for more than 20 years, the short-sale decision was made with a heavy heart.
Just recently and suddenly Carl's wife passed away. Carl has slowly moved out their belongings but for a few items that were his wife's. There is a dress in a closet, a painting of hers on the wall. Carl had built his wife a shoe-closet. Carl and his wife always decorated for every holiday. Carl had reserved a space for an elevator for when the grand stair-case would become too much for him and his wife.
Dear Carl, it was truly a privilege to have met you. I thank you for giving us a tour of your magnificent home. She is a grand lady and I hope she'll shine in her full glory once again one day just like you and your wife had made her shine. I could see the family gatherings Carl, I could hear your grand-children laughing and I could feel the love. I'm truly sorry for your loss(es) Carl.
Today I met Carl - and I am heart-broken.
To B of A Carl is just another home-owner in trouble, not worth it to have the utilities turned back on so an interested buyer can obtain an inspection, not worth it to consider any serious offer below $675,000, "they will just reject it".
To me Carl is a wonderful person full of stories. A person who has just lost the love of his life, the person he built this home with, the person he built a shoe-closet for. Carl moved me to tears. I wish I could help Carl. It breaks my heart that I can't.
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros
There are too many Carls out there in this marklet. Your story was well told and i hope for the best for him
Sep 29, 2011 01:59 AM
C21 Solid Gold Realty, Brick, NJ, 732-920-2100 - Howell, NJ
REALTOR®, Brick & Howell NJ Homes for Sale
Hi Andrea. This is a sad story and thank you for sharing it. Perhaps someone at B of A will see it and a light will come on. Small steps to a better time...
Chatting with Carl with compassion as you did was surely helpful to him.
Bruce
Sep 29, 2011 02:21 AM
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents
That is a sad story. I wish the major bank have a better process of getting short sale done. I have lost 3 short sale due to the incompetant of their employees.
Sep 29, 2011 02:25 AM
Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD
Fluent in Real Estate & German, M.A. ABR ASP CIPS
Hi Juli: Thank you very much. Strategic defaults... don't get me started on those, these people are not included in my telling the human side.
Hi Marge: Real people and their homes, not just houses.
Hi Beverly: Thank you! I couldn't agree with you more!
Hi Grace: I hope so, too .. it wont be easy.
Hi Dawn: Maybe getting some stories out there is one little way to do it ... It is the only thing I could do.
Hi Beth: Thank you!
Hi Gary: I don't know. I showed his house to clients of mine and we were all touched to the core by Carl's story. Carl was a very successful business man at one point, it is a huge house .. quite possibly any equity just went into paying the bills for it and trying to hold on to it for as long as possible.. but I don't know.
Having to do the short sale in the first place and lose their life's work is very sad but not necessarily the point of this story. The tragedy is what B of A is putting him through, to cancel a contract days before settlement b/c of a small hiccup is inexcusable .... and he just lost the love of his life.
Hi George: He'll need a lot of time and I don't think he can find closure until he knows his house is in good hands and this mess is over.
Sep 29, 2011 02:33 AM
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate
How sad, must be the sad day on AR, the second sad post I have read.
It use to be BofA would just keep going and insert a new buyer, now they are starting over.
Sep 29, 2011 02:41 AM
Fairway Independent Mortgage - Ashburn, VA
Mortgage Advisor
Hope Carl is able to get his house sold. Unfortunatly, odds are against him with Bank of America being involved.
Sep 29, 2011 02:41 AM
3:16 team REALTY - Frisco, TX
That is unfortunate. The big banks are slow and they don't seems to communicate with their own departments. We lost a few short sale because of that. Just frustrating working the with banks. Just image how the home owner feels. Heart goes out to Carl.
Sep 29, 2011 04:00 AM
people first...then business Ran Right Realty - Riverside, CA
agent & author
Potential victims of crimes have long held that sharing your name and circumstances (making it personal) can cause the perpetrator to lighten up...Up close and personal good or bad has an impact...I am surrounded by people who practice no hope daily as our area is inundated with foreclosures and high unemployment...Mass suffering is not pretty for anyone involved yet the banks continue on as usual
Sep 29, 2011 04:44 AM
Coldwell Banker (Elk Grove, CA) - Elk Grove, CA
Elk Grove, CA Realtor 916 425-1084
There are just too many Carl stories out there and it is really heart breaking. You did a wonderful job capturing his story and getting down for us to share.
Sep 29, 2011 04:53 AM
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA
Not sure what else to add except that this story brought tears to my eyes. We have all seen too many of these.
Sep 29, 2011 05:29 AM
Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD
Fluent in Real Estate & German, M.A. ABR ASP CIPS
I thank you all for reading Carl's story and leaving your thoughts. I would like to respond to each comment but have not had the chance and honestly don't know if I will today ....
Yes, Carl's story is just one of many. But we need to remember the Carl's out there and maybe writing about them will raise some awareness.. it's not just business and transactions and properties. These are real people with families and memories and dreams - and life happened. I don't know exactly what put Carl in the short sale position but I do know that it is not my place to judge.
What makes Carl's story so very tragic is what B of A is putting him through ... When they listed the house Carl's wife was still alive. When they came oh-so-close to finalizing a contract, B of A killed the deal. Then Carl's wife passed away ...
Carl is in no position to maintain the home. For B of A to flat-out refuse to consider any offer below a certain number is not helping anybody ... Carl is not allowed to find closure, to move on and to cope with his wife's passing. That is the tragedy. B of A should be ashamed.
Sep 29, 2011 05:51 AM
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro
It's a sad story that is playing out all over the country today, Andrea. Thanks for bringing a tribute to Carl.
Sep 29, 2011 06:55 AM
Real Estate Professionals - Salt Lake City, UT
That is heart wrenching! How hard not to be able to help him. I am worried for our country when a story like this one is becoming so commonplace throughout the united states.
Sep 29, 2011 07:12 AM
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M
Andrea - Such a tragedy and unfortunately too common an occurrence these days. We have all met our Carls in the last few years.
Sep 29, 2011 08:14 AM
Innovative Artistry - Kendall, FL
ASP/IAHSP- Stager Miami, FL, Creative Minds Innovatively At Work
Dear Andrea - These are the stories the press should get hold of.... how sad!!! Someone should just compile them all. He is a victim caught up in the mess of it all & trying to live life...& at such a difficult point for him too :( I am going to re-read this when I get back! Big Hugs...we are crying for him also....
Sep 29, 2011 09:24 AM
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation
Andrea, I don't have anything new to add to what has already been said by all those commenting above. Sad to hear the story about Carl, but that's the way B of A does business these days.
Sep 29, 2011 12:20 PM
951-290-8588 - Chino Hills, CA
RE/MAX Masters, Inland Empire Homes for Sale
Such a sad story and you told it well. Too bad these unfortunate situations exist today. Would that it be over soon!
Sep 29, 2011 12:50 PM
SWBC Mortgage 410-960-2061 - Baltimore, MD
Maryland Mortgage Mama NMLS#196068
Andrea, You have put a face on all the "deals" out there beautifully.
I have a client in Severn (both Active Duty Military) I have written about multiple times. There home was on the market from June of 08, began the short sale process (skip payments so we will even consider a short sale) as of December of 08 and our friends at Bank of America caused delays leading to the loss of 5 contracts. It has been off the market since June of 2010, and still sits empty. The sellers have moved on (one serving in Germany, the other in Georgia), though it still hangs over their heads. Because this beautiful house is now in disrepair, Bank of America won't accept the deed in lieu and because it is an FHA loan, can't foreclose (a moratorium?) so it sits.
Hopefully, "too big to fail" Bank of America will get their act together sooner than later. It is a tragedy.
I continue to keep Carl and all those in his situation in my prayers.
Maryland Mortgage Mama
Sep 30, 2011 01:42 AM
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate
Andrea: Being the big softie... and the forever romantic that I am... my heart really and truly goes out to Carl. I know he has been through so much... and with the death of his wife... I could just wring B of A's neck. I am guessing the stress of it all... must have had some impact on his wife. Ooohhh... hearing this makes me so angry. Creeps !
If you see Carl again... give him a gentle hugg for both of us.
Sep 30, 2011 05:44 PM
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
OH my gosh! What a very sad story. Probably one of MANY in that era of short sales. Yet, this one is special because Carl is special. To see such a heart wrenching story brings back all of those memories of trying to help people that the bank's wouldn't. Gut wrenching ;(
Aug 19, 2022 01:16 PM
Rainmaker
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Andrea Bedard
Fluent in Real Estate & German, M.A. ABR ASP CIPS
Service Areas
Real Estate Resources
Andrea's blog is about (g)local Real Estate, family-owned businesses, Main St USA, neighborhood info and happenings in MoCo & HoCo and (far) beyond.
It's sprinkled with sound advice and a candid perspective, sweetened by her vintage soul and topped off with her passion for Real Estate, travel, running, and the 2 most important people in her life. Andrea is an ABR (Accredited Buyer's Representative), bilingual, and holds the distinguished Certified International Property Specialist designation.
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