Do you ever have one of those days?  You know, where you wonder why you do what you do?  Of course, working on short sales make that type of day almost a common occurrence.  I have a short I have been working on for 6 month.............that in itself is ridiculous.  After hundreds of hours working this file, I finally have an agreement with the lender.  They want $2000 from the seller and the refund from her prepaid escrow for her homeowner insurance policy.  The bank is taking over a $125,000 loss on this property.  The seller is not happy about the lender taking the balance of the refund from the insurance.  She needed to think about it.  Over the weekend I went to the home in Lehigh Acres Florida to discover that the outside a/c compressor had been stripped for scrape metal.  As a matter of fact, the entire neighborhood was hit and all of the compressors are gone.  Now she will have to file a claim with the insurance company and that will cost her $1000 for the deductible........That alone is going to ruin the short sale as she claims not to have the money.  She won't sign the bank's agreement.

Next up, another short sale that I received two offers on this past weekend.  I was having difficulty reaching the sellers.  I finally was able to reach the wife who told me her husband was out of town and did not have access to a computer.  He would be home on Thursday evening, would sign and send the paperwork along.  Today I talked to wife again and was informed they are having 2nd thoughts about the short sale.   This home has been on the market for 63 days.  They have decided to file bankruptcy on everything per advice from their attorney. 

Some days I feel as if I should be able to claim my time and expenses as a volunteer.  I am going to pursue other avenues and get out of the short sale thing.  Too much time and energy is spent and even if you do get paid, the bank cuts your commission.  They should pay twice the commission for all of the time spend talking to the bank, faxing documents back and forth and dealing with all of the people that need to be informed. 

Anyway, I look forward on working on equity sales and foreclosures that don't require nearly as much babysitting.  Something to ponder.....why can a lender let you go into debt for a 30 year mortgage in a matter of hours, but if you can't pay, are behind, have a major hardship and no assests, it takes 4 months or more to let you out??? 

Chin up, I will feel better next week............Jackie