The worst in Foreclosure- Illegal or just morally wrong?
I wrote the following comment to this post and also felt compelled to reblog it. As Thanksgiving draws near, I am trying to see the other side to the story.
The ending made it all worthwhile. It's sad that the owners collected rent and didn't pay the mortgage and it begs the question, "why?" Perhaps they fell on hard times and needed the money to keep their home, pay medical bills, feed their family? I believe the American Indians had the right idea, "don't judge another until you have walked a mile in their shoes."
While all Foreclosures can be heart breaking, a recent visit to a 2 family home in the Manchester NH area for a new Bank owned Listing found 2 long time tenants there, each knew nothing about the foreclosure and had paid their rent on time. Further more the actual foreclosure took place in October but the former owner had been there as late as Saturday to try and collect more rent.
With a tear in their eye, the building they have rented and called home for the last 20 years had been turned upside down. While the bank has asked me to negotiate cash with keys for keys know known as "relocation assistance" with both of them I had a better idea.
In only 15 minutes i got to hear everything about this older couple and even an inspiring story about the young family living in the second apartment who turns out was their son. I learned that they have great jobs, no debt and a great will to stay here in the home they moved into 20 or more years ago. I now had a potential buyer who was ready, willing and able to purchase this home. But... also had a bank that insist on only selling homes when they are vacant.
I went back to my office and called the Asset Manager, having worked with them for a very long time they actually listened to me. The building will be appraised and a price set. They will then offer it the current tenant who can purchase it if they choose.
The tenants can be thankful I was assigned the listing who actually took the time to listen and could be a win win for the bank and the tenant. The asset manager was thankful I could save them thousands of dollar on relocation or legal fees on eviction, cleaning fees and carrying fees to find a buyer.
The former owner brought an anger as they collected rent every month and did not pay the mortgage for well over 2 years. They then even came back and tried to collect rent after they did not own the home any longer. It is wrong? you bet. Is it illegal? not sure, but it is morally wrong.
IN CONCLUSION: As a consumer you have a choice. Avoid the thinking that bigger is better. You deserve the Best and that is having some one guide you through each step of the Buying or Selling process. If you are looking to purchase or sell a property in NH, you can choose ME. I strive to offer the best in personal and professional service through EACH step of the BUYING process.
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About the Author: Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services in Manchester NH. With 26 years of Real Estate experience Scott is a leading agent in Listing and Selling Homes in this area.. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. His website is www.ScottSellsNH.com. Full Time and Local agents ready to serve all of your Real Estate needs through each step of the buying or selling process. We are proud to be locally owned and operated.
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