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Three blind mice, three blind mice.........blah, blah, blah.

Lately, as anyone knows who has been reading my Blog, I have been dealing a lot with short sales and pre-foreclosure listings. Since I am not an attorney and cannot give legal advice, I always recommend to these Sellers, that they seek competent legal counsel. Most do. In addition to this, I give them my opinion, about what a short sale may do to their credit and the possibility of the amount of the "short" being treated as income, for tax purposes, and/or being attached to then as a personal liability. I do this, so they will understand, that being foreclosed on or negotiating a short sale should be a last resort decision and will have dire financial consequences.

Anyway, on Saturday, I was out and about putting up signs and refilling a few brochure tubes before the Holidays and bumped into one of my Sellers who is in a pre-foreclosure situation. She proceeded to tell me how she and her husband were getting ready to go look at some new construction homes and were hoping to put a contract on one. What? You are in foreclosure and think you can go out and buy a new house? According to my Seller, she thought that since we were trying for a short sale, that their credit would not be affected and that they could go ahead and place another property under contract. She figured since the Lender was going to get most of their money back, they would just forgive them for not making payments in five months and let bygones be bygones. I was dumbfounded to say the least. But, OK then, good luck with that.

Also, last week, I was speaking with one of my other Sellers. He lives out of state but has a flip that flopped in Poinciana. He hasn't made payments in three months and is also in a short sale situation. He had been pulling equity out of his primary residence for about a year to try and sell the property, he owns down here. Last time I had spoken with him he was telling me that he had already pulled $40,000 and only had about $40,000 left in his house. When we were talking last week he was telling me how tight things are and how expensive it is to send his three children to private schools. Then he proceeded to tell me how he was going to pull the rest of his equity out of his house to pay the children's tuition next year. He's not worried because he knows his house will increase in value and he should be getting a new job next year. So let me get this right. You have a house in Florida that has decreased in value and is about to be foreclosed on. You have already spent $40,000 of the equity in your residence to try and hold on to this house. And now you have come up with the brilliant idea of pulling the rest of the equity out of your residence to pay for private schooling. Well, good luck with that one too.

Folks, believe it or not, there's one more. I have another Seller who is going through a bankruptcy. This should be discharged sometime in March. They too have been out looking at new homes. They told me that builders are desperate right now so they shouldn't have any problem getting into a property because the builders have "in house" financing. Their thinking is that once they sell their property, after the bankruptcy, they won't have any debt so the lenders will be happy to loan them money to buy a new house. I truly feel like I am in an episode of the Twilight Zone.

Two Sellers, with serious financial issues, who actually have no clue that this will affect their ability to purchase another home and another digging their hole even deeper, based on future appreciation, even though they are in the process of losing a house for that exact same reason.

Are folks really that blind? Is their reality clouded by denial? Does financial responsibility mean nothing anymore?

Three blind mice, three blind mice.............blah, blah, blah.

Posted by Bryant Tutas Broker/REALTOR(R) Tutas Towne Realty, Inc on 12/28/2006 01:45 PM

Comments (60)

short sale, foreclosure, real life

60 Comments on Three blind mice, three blind mice.........blah, blah, blah.

DEC

2006

Reserved Parking For #1 "The Lovely Wife"...TLW...ROAR!

Hubba! Bubba! Wink. Wink. :)

La La La La La La...Pretend I am singing the rest of your song. It works better like that. :)

Okay. I am done messin with you. All I have to say about all of this is:

What Are They Thinking?
What Are They Thinking?
What Are They Thinking?

Oh! I know. Perhaps they are not really thinking and are stuck in that denial mode.

TLW "The Lovely Wife"...How Are We Going To Help These Folks?...ROAR!

Seems TLW doesn't have much to say today. :)

All three clients are currently in the "denial" stage and therefore, can't see the forest for the trees. Of course, the bad news is that the next stage is anger and you can almost count on being blamed for their financial woes.

Best wishes to you both for a happy 2007.

I am leaning toward the stupid part myself either that or there are just people out there that are that naive I don't know

In watching the foreclosures and pre-foreclosures (I received a local "Dataquick" (big RE data company here in CA) for my local area that shows open loan amounts on the houses in pre-freforeclosure as well as the original loan amount on the home), it is incredible to me the amount of money people have withdrew from their houses. People with 10-12 years of ownership under their belt buying at the low point, now at near the highest point in RE history are negative equity.

Yes, there is absolutely a need for personal responsibility. But the lenders also have a duty to underwrite loans reasonably, and they definitely have not been doing that. These peoples attitudes are based on the lax lending standards they have encountered for the last decade, to them it is not unreasonable that it will continue. I have no doubt they will be able to get a loan, but the market is now pricing the risk a little bit better (still low relative to the risk vs return) but if the people can swing 10-12% interest on their loan they probably will have no problem getting into a house.

Their is an old adage that goes something along the lines of "If you owe the bank $1,000 and can't pay, you have a problem. If you owe the bank $1,000,000 and can't pay, the bank has a problem."

I'm not sure the bank(s) fully realize they have a problem yet.

This is very common and it drives me crazy!! I was helping a client with a short sale and guess what he did after I spent countless hours educating him and his family about do's and don'ts in the process...He filed for bankruptcy!! Not only that, I found out through the lender after I sent multiple offers on his home!! After I told my client that the lenders could not approve the short sale, he was upset because when the bankruptcy was discharged the home went immediately into foreclosure! No matter how much you try to educate someone if they don't want to hear they will remain blind!! So, Im joining your song... Three blind mice...three blind mice....blah, blah, blah....

BB... I'm just astounded by some of your stories. Wow. I don't even know why I'm commenting. I am speechless.

Bryant, seems another way our markets are similar. I've been working with sellers in similar situations. It's like they can't think straight for some reason. I had one guy call me a while back & say his friend was building a house in Cape Coral & went on to explain how he owes more than it's worth, etc. etc. Then he asked me how HE could get one of those too. At first I thought this was sarcasm but he went on about it & guess what? He was serious. Yep, I told him it wasn't a good time for him to be building a house on speculation unless he can afford the payment for the next several years. He probably called another agent who advised him of what a great idea building a house on speculation would be....oh well....

One of the Realtors in my area put a pre-forclosure up for sale on the street behind my home. He has it overpriced and it is almost impossible to show. The sellers do not wanting to be inconvenienced. The home already has a lien from the home owners association and the seller won't budge on price. He feels his is worth more than all the others in the neighborhood and refuses to give it away. He will not allow open houses or even be flexible on showing times. I forgot to mention the front of the home looks like a junk yard.

I look forward to bidding on it at the auction.

I am speechless too. This stuff just befuddles my mind. I just don't understand these folks. Is that better Norm? SVW. TLW...ROAR

We're starting see some sellers who are upside down as well. Sad really that people are so clueless about how it all works.

monika

You know... No matter HOW MUCH you try to educate some people... they never seem to "get it" I wish you all the best in selling these properties for these folks.

It's not just a river in Egypt; good lord

I personally blame the lenders, In the last few year some of the loans are just borderline criminal. What they have taught the public is that there is no problem that you can not borrow your way out of. It is mainly due to this that these sellers are in fantasy land. Speaking of fantasies there is what I called the fantasy loan. I think they called it Pick Your Pay CountryWide was even doing commercials on it. It goes something like this, 1% start rate ( to qualify off of ) then thirty days into the loan it adjusts. But they dell you it only adjusts 2.5% per month. Then the loan officer states and the beauty is that the payment can not go up more than 7% per year. But wait Ginsu knives, Run Do Not walk away from this loan Dear Public.......

You see you have three choices of payments, 1. The start rate which goes negative in the second thirty days. 2. An adjustable where you are paying the current adjusted principle plus interest or 3. At the current adjusted rate and interest only payment. Payments 2 and 3 go up dramatically starting the second month. Payment 1 stays low and only goes up 7% per year. But wait public, most people pick payment one which is negative ( for those in Rio Linda means your loan balance goes up with each payment ) and wonder why a few years later they owe a lot more thatn they started with.

But wait most of these loans have a clause that if the pricipal balance goes up more than 15-20% of the starting point then the whole enchilada converts to a stadard 30 year fixed with principal and interest ( at the currentl rate ) from that point on.

There was an article in the local paper about a poor guy that had this happen and now he could not make the payments. I wish I felt sorry for him but as a certified loan signer ( Notary Public ) all of this information was in the docs he signed.

Three Blind Mice ..................

Hubba! Bubba! Wink. Wink. :)

I FINISHED THE JOKE IS ON THEM.

PRETTY FUNNY DARLIN (Broker Bryant)

TLW "The Lovely Wife"...Twisting In The Rain And Having A Party. :) ROAR!

I've been working with several short sales at the moment as well, one set to close today, but will be tomorrow. On another one, I've talked with the seller and he thinks he's walking away with money. He decided he was getting a better offer from someone else. I was like, what are you talking about? You're not seeing anything and the bottom line is whatever the lender will accept for the short sale.

AND, this guy is a mortgage person!!!

BB, I do beleive that one of my sellers is definitely related to all three of your sellers. Hoping that an investor will get them out almost whole. They owe more than they wil get on this house. Gas and electric turned off for non payment. They went out of town and wanted to put a deposit on a new home. What are they thinkin' ?

www.homerome.com

Baltimore,Md

BB,

People who have a BK, can`t look for new homes! Are they insane, no wait, of course they are, they`ll get financing, this is Florida!

Why us?

Happy New Year to you and TLW... Woof

Problem with these is that I've known someone that has done all this before -- so they have "precident" to believe the stories. A former co-worker filed for bankruptcy three times, lost his house three times, and secured a new loan to purchase a new house all three times. I left, have no idea if he's on to four or five yet. So there is a throwing good money after bad credit precident that gives people the wrong idea about what they can do.

Wow! This post took off. I'm kind of surprised actually. It has been sitting in my word docs for several days while I was trying to decide whether to post it or not. My sellers read my blog and as you see I left it open to the public. I figured if they stumbled upon it it would reiterate what I have been telling them for weeks. I'll let you know if I get any irate sellers calling me:) Oh well, wouldn't be the first time. I do tell them I write about all of my sellers so beware!

I think these are stories we all hear way to often. They give me mixed emotions (that was for Ines:). I'm frustrated because they don't get it. I'm mad because they probably can find a lender more than willing to take their money again. And I'm sad that so many folks have to face these difficulties. But nonetheless, their stories need to be told. Maybe someone will read this and it will make a difference in their decision making.

BTW I know I write a lot of stories similar to this. Every single one of them is true. I do sometimes change small details,(plausible deniability) "No that's not you, it's my other seller":)

Problem is most of these situations are salvageable if enough people who know about it will help guide people to the right place. Debt help is out there. It can save homes. Friends, clients and others you know need to get help. It is not always borrowing more. But sometimes that can get them on the right track.

Pay option loans are a great tool in the hands of the right person. They are not for everyone. Lenders provided products that homeowners and realtors and loan originators wanted. They gave them what they asked for, now we are blaming the lenders for giving us what we want and letting us abuse it.

at least once in our careers all of us have put clients into things that they have pressured us into providing. Looking back we know we made mistakes. Now that you are above that look for the long term for you clients and yourself.

I get thiose calls from when the mice are looking for a loan. I once had a woman say to me "My bankruptcy was just discharged. We got rid of all our debt so we could get a bigger house". Unreal. I personally they smoke way too much of those funny cigarettes

I think that people just do not understand. I don't know why this is so, however, I see it all the time. I don't think lenders are all to blame either. In fact this gives me an idea for a blog.

BB,

Here is a tip that never fails, but it will cost you some time - and there is no telling if you'll get any money out of it. But I guarantee you'll get less questions and less confusion.

Work everything out for them on paper. With a pen and calculator.

I do this with all my forclosure customers and it never fails. I take them step by step through everything that COULD happen. (Now this can get ridiculous but not everything. I will say that I don't include them winning the lottery - gotta draw the line somewhere.)

And it works - without fail.

Of course we stay in contact through email and texting and phone calls. But once I have all their information together, what they owe, from when, how much time they have left, what they're losing per day, what the market is ON THAT DAY (I don't have a crystal ball) and most importantly what they MAY expect - I promise you, when they see that in front of them on a piece of paper, a piece of paper that they leave and go home with not just some black squiggles all lit up on a computer screen - that works.

But again, you don't always get paid doing this. You only make money if they come back. :)

Enjoy,

"Darlin aka Broker Bryant"

"<,(plausible deniability)>" For me that one is right up their with NEXT...Hubba! Bubba!

TLW...ROAR!

The ones who don't seek counsel are usually the first to sue. Yes they are all blind mice. I have had the same frustration lately. I had a client not make his mortgage payment during a refi and get upset when the pay off went up by...you guessed it the amount of the payment.

It would be funny if you weren't right in the middle of it. Thanks for making me feel like I have company.

Given how naive they seem to be about their current situation it's not hard to see how they got there in the first place. Hope you don't have to bear the brunt of their anger when they find out the truth. Good luck getting 'em sold SOON! Wouldbe a nice New Year's present for you and TLW (and the for the sellers, and the lenders)

Christopher, I actually do give them the figures in black and white and have then sign off on it at time of listing. I also refer them to an Attorney. I will have them sign another disclosure before signing a purchase contract so there is no way they can come back and say I didn't make them aware of the ramifications of a short sale. My files are very thick with CYA docs and communications. And STILL they don't get it.

Sometimes I just feel like walking away. But I just know, if I don't at least try to help, they are going to get raped by someone. I have to try. Whether they get it or not, I have to know I did my best to help them through it. There are enough listings out there for me to never have to take a preforeclosure or short sale deal. It's just something I feel I need to do. It's my market and I have been in it for 12 years. Just because these deals are very difficult doesn't mean I shouldn't be willing to tackle it. I'm the top Realtor in my community and I have to do it.

Christopher, your way is EXCELLLENT imho. Many people think they can disseminate information well, when in fact they can't (usually because they assume a certain level of technical knowledge relative to the subject at hand which the person being told doesn't have). Since you break it down by the numbers, step by step, you can see exactly where any misunderstanding takes place and deal with them.

I have no doubt many people tried to help their sellers in dire straits, but in all probability the seller weren't capable of processing the information given verbally. This isn't because they were stupid (there are very few stupid people in the world imho, and it is bad business to assume there are) but because of the overload of information they were given (and tasked to remembering all of it). Add into the mix you might have others feeding them conflicting information and the general stress of the situation and you have a poor results on information absorption.

Chris' answer of time, patience, pen, paper, and a calculator, really is a fantastic way of reaching through the fog and giving the sellers something concrete.

BB,

What's the old adage "A fool and his money are soon parted"......

These idiots have what's coming to them. Regardless of whoever they try to "blame".....the bottom line is THEY are responsible for their actions. Our society has long since abandoned the concept of personal responsibility; but who doesn't already know that.

I say make money when they buy, make money when they sell......NEXT. LOL

Keep a journal and write a book after this market straightens itself out and make money once again......

BTW, has anyone happened to share, with the short sellers, about a little thing called a 1099 on the difference.

Stan...LOL on the NEXT. You know I have a Hubba! for that. :) TLW...ROAR!

BB,

I saw this over and over during the downturn of the 90's. I had one seller who wouldn't agree to a sale price because he thought it was too low and the lender was ready to approve the short sale.. It's beyond not getting it.. people really don't believe it will happen until the sheriff comes to move them out. Even at that point many people keep thinking they will get the house back. I have no explanation but I saw it over and over.

Hey Stan, Oh yes the 1099 is always disclosed along with the possibility of the "short" being attached to another asset or them personally. I agree people have to be responsible for their own actions. And that is definitely something that is lacking today. I do have some cases where it is due to health or other issues that they have no control over, but mostly it's just foolishness. The ones I really feel for are the children.

Mikey, You are correct that these things need to be outlined in writing. And I couldn't agree more about the overload of information and different opinions they get. It really can be overwhelming especially when you add in the stress of losing your home. But these are issues Realtors deal with every day. Foreclosure, death, divorce, illness, disability etc. There are a lot of reasons why people sell their homes. Our job is to get them through it. Thats the part of our value that a lot of folks don't understand. We do a lot more than just sell houses.

BB,

Perhaps I didn't explain myself very well.

The point of the paper is the tangible fact that shows you are trying. It's material evidence that many (some) agents, officers, lenders won't do. This simple act of sitting down with them (I prefer their home if I can) and showing them both on paper and your handydandy calculator what is and isn't reality is what gets their attention.

It's easy to send emails. Copy and paste some scary articles, throw some frightening spreadsheet at them and they'll be so confused they will sign anything to make the wolf leave the door.

But I view my strategy with them as exactly that; a strategy. I'm arming them with facts. Right angles, heavy in weight and hard to hide from. That way they know what I know. And if I've educated them to the best of my ability they can now make some difficult decisions.

I know for a fact I've had potential customers have a conversation with me and two days later do exactly opposite of what I suggested. They just wanted the leave the door with the wolf - not have the wolf leave the door. How did that make me feel, kinda like I wasted my time. But I know they heard every word and I showed them every detail and fact as I knew them to be.

We've said it before on many blog entries about the subject; sometimes you can't save people from themselves. We can only educate them about the paths - it's up to them which one they choose.

And just so no one else has to say it: I suspect those of use that signed on with AR (and many other sites like it) do our best for our customers before we do our best for ourselves.

Enjoy,

Ah, the wonderful world of pre-foreclosures. When I approach a pre-foreclosure, one of the first questions I ask is what they intend to do. I hear their plans and sometimes think not only are they short $________ but add to that , a nickel short.

Christopher, I would actually be interested in an example if you have one you can share. I think we are on the same page. But you have a lot more experience at this than I do. Any advice or assistance is always appreciated.

Stan- Don't take this personally, but thinking they are fools and trying to just worry about making money when they buy/sell is short term thinking. People being ruined financially is not a sound long-term financial strategy.

Bryan- I have no doubt you give them a paper with a bunch of numbers on it and try to explain what it all means. But I think Chris' way of starting with a blank sheet and walking them through the numbers step by step is the only way to know that they understand the situation. Otherwise you are handing them a piece of paper with numbers on it to go along with all the other pieces of paper they have. You can hand them a piece of paper and some rope (knowledge) that could be their lifeline out of this mess, while others are handing them a piece of paper and some rope to hang themselves.

Personal responsibility goes many ways in these things, and I think STAN is showing little of it if he is a real estate agent (fiduciary duty and all of that). Everyone else in the process (except a lawyer if they get one) do not have a fiduciary duty to these people and that is something I do not think people are aware (compounded by the fact that some people do not take their fidiciuary duty seriously at all). They trust what they are told far too much.

definitely denial! We have a seller now that cannot even afford his electric bill and refuses to lower the price of the home. It's not easy BB - not easy at all.

Rick- Just list him as a "motivated seller" all the buyers know this is code for "in denial" (or maybe more postively "wishful thinker"), real motivated sellers can be seen by actions not words.

Bryant, these stories you told are amazing, though still too common. It proves once again that common sense, isn't.

Mikey,

You must not read my comments if you think I'm in the real estate business......

BB...no offense taken; but I'm sick and tired of people acting irresponsibly and expecting everyone else to clean up their mess and bail them out. I have no sympathy whatsoever for anyone who is financially ruined by their own greed and/or stupidity. Legitimate illness or personal tragedy, that's another matter, but the topic of the day is not those circumstances.

JMHO

Bryant, every time I start thinking I have the corner on delusional clients I head on over to BB's blog and get some reassurance that I'm not some sort of magnet for the perpetually needy. You seem to have even more than I do! great post. Next time, don't hide it on the word processor for 3 days.

By the way, I love your attitude about your responsibility to your clients. It comes through in many of your blogs.

Stan, No offense taken. You know you are always welcome to voice your opinion on my blog. I do think though in a lot of instances it's not so much greed or stupidity as it is total ignorance about financial matters. This needs to be addressed in our school system at an early age. Our society doesn't help either with all the buy this buy that every where you look. But I agree with you 100% they need to take responsibility for their own actions. I can understand folks making a mistake but not learning from it and doing the same thing again is completely stupid and foolish. And the folks in this post are not even through the mistake they made and are on the verge of doing it again. But I do get paid for helping them out. It's my job. My job is very interesting:)

No wonder your wife is throwing a TWISTED New Years Eve Party!

I am not sure what the problem is, it goes beyond being naive. I see people who could have sold the house, for no real reason allowed the property to go in foreclosure. The saddest I have ever seen was a brother and sister unable to agree on a property left to them. It was foreclosed, they lost everything. The sister does not own a home and the property is now worth about 1 million.

DEC

2006

"Does financial responsibility mean nothing anymore?"

School teaches us nothing but to follow orders and be a good consumer...buy, buy, buy. Until they start showing kids how to save and manage their money the only role model they will have is their broke parents.

Ah.... so these sellers must be from the same pod that bought into those hybrid designer 0 down Zero iNTEREST 3 year ARM's ? Should be alot more of those space cadets coming down the road...

Bryant: Do you have any normal client/customers? Or is this the new "normal? You oughta take your accumulated posts, and edit them into a book (when you do, the Codgers will expect a signed copy!). We're not posting today, but you know where to find the coffee anyway!

Jay

BB,

Hey......I think you may have stumbled across a scenario for a new hit TV Reality Show! Three Blind Mice.. Exercises in Reality and/or Futility. You just have to bounce this idea off Ryan Seacrest and Simon Cowl.

Are they three blind mice or....?

Here in Arizona I know of a Buyer who purchased just 2 years after bankruptcy - but that was before they changed the law (last year?).

Good Morning Bryan,

This reads more like TLW''s humor, but it's horror!

The fact that you know that the short or forgiven part of the loan is taxable means you probably know more than most attorneys, about this subject. Your would be clients have a much better chance at finding a knowledgeable REALTOR® than a knowledgeable attorney, when it comes to pre-foreclosure. Not that they have much of a chance at getting good help. These people are already suffering "dire financial consequences"! Your advice does meet my rule "I will not add to peoples troubles!"

Your next mouse is delusional! All true short sales will hurt credit! Most people will already have trashed their credit before the lender would consider a short sale. A short sale is certainly more desirable on your credit report than a foreclosure!

I added "true short sale" because until recently, I'd never seen anyone use the term "short sale" when there was a substitution of collateral involved. Substitution of collateral is a valid and accepted, even if rare, financial tool. Substitution of collateral in and of it self has no affect on one's credit.

I've had considerable experience with short sales, admittedly with only one notable exception representing the buyer. I find the idea that seems so prevalent that lenders will do short sales to benefit the home owner disturbing, where do people get the idea that they are entitled to someone else's money? Lenders only accept short sales when it's in their best interest!

Your next mouse desperately needs help, to limit his pain, but he probably can't be saved. You're to be commended for wishing him "good luck" and not laughing in his face.

Your third mouse may not be blind at all! Infract the laugh maybe on all those that don't believe him!

I've closed loans in less than a week from all debts being discharged in a Chapter 7 BK, and I've financed many a Chapter 13 BK while still in bankruptcy!

Lenders evaluate risk. Lenders charge more for people with bad credit, but they also take a lot less risk. Oddly, there is a lot more risk loaning to people with good credit than bad, because we require sufficient equity to eliminate any risk from troubled applicants. If they don't have current IRS liens or local judgement any warm body with sufficient equity can get financed.

As I finish this you have 50 comments, many judgmental, many experienced but totally uninformed. Don't these professionals know they are in the people business? Our job is to help people not to throw stones! I recall something about ‘let him who is without sin throw the first stone" I'll bet none of us are qualified.

But, you get extremely high marks for your question "Does financial responsibility mean nothing anymore?" I tried a different approach to the same point Foreclosures are up, Foreclosures are up, Foreclosures are up You got 50 people thinking and commenting I got 2.

Verry well done!

Bill

William J Archambault Jr

The Real Estate Investment Institute

http://www.reii.org

You certainly live a charmed life.

I hope you are working all of this material into a book.

I actually went through a short sell during the Carter years of 20% interest rates and the bank was great. They sold the place, we called it even, and they didn't hammer my credit. It can happen.

But, I wasn't out looking for a new house at the time. Life is stranger than fiction!

Amazing! I couldn't imagine taking something as serious as foreclosure & bankruptcy so lightly! With the choices here being blind or stupid I would say BOTH, and throw in a dash of "it's only money" problem is that it's OPM (Other Peoples Money) --- I am back to Amazing...

Bryant,

Thanks for the post. Sad but true, all too many people are completely unaware of options and ramifications, when it comes to foreclosure proceedings.

DEC

2006

Okay, I am sure this has already been answered a million times, but could you humor a newbie and explain to me what a "Short Sale" Is? I know it has to do with selling a home for less then you owe on it but how is that Legal? Sorry if this is something I should know, but I won't learn unless I ask :) Thanks!

Monika, A "short sale' is exactly what you stated selling a home and being "short" funds to pay the mortgage balance in it's entirety. The lender has to agree to it. It is was their solutions to avoid foreclosing on the property. The Sellers have to be able to prove financial hardship. Do a Google search on it and it will answer all of your questions. Always ask. There are no dumb questions just dumb answers:)

Bryant,

So the Lender must agree, that is how it is legal? Thanks for explaining it and I am off to Google :)

JAN

2007

its amazing what people DON'T know in todays age of information...

www.EagleResorts.com

SEP

2007

The archives are history in the making. Bind the book.

SEP

2008

BB, You posted this almost two years ago when many had not even heard the term "short sale". Just this week, I had an email wanting to see a condo. I called the "buyer" and while doing my routine questions lik "do you have a home to sell?" Well the one I own is being foreclosed. A short discussion followed and I remembered your blog.

la la hope TLW is feeling up to singing the rest of ".....see how they run.."

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