After answering the overnight emails, I was looking at a list of properties going to a trustee's auction sale this week and pulling up the addresses to get an idea of future business. After the first half dozen or so, it struck me odd that not even one of these homeowners had even listed the property with an agent - neither as a “retail” listing nor as a short sale. So I have to wonder why they didn't even try to do a short sale.
The frustration involved with short sales is great - after five years I know that as well as anyone. But what does a homeowner have to lose? If they are headed to a foreclosure anyway - why not go down swinging?
And then a past client called soon after and said their company was going out of business and he was going to have to move to another state. Long story short - I'm listing the house as a short sale this weekend. Like so many others, they are way upside down since they've only had the house about three years - but I admire them for not just abandoning the property and turning off the utilities. And I also have to recognize them for calling me and asking for advise and not just walking away without trying. Strategic default can't be helped in many cases, but that doesn’t mean that we shouldn’t try.
Hopefully their mortgage company will see the light and we can make the best of a bad situation for everyone!
Comments (1)Subscribe to CommentsComment