It was especially gratifying to complete a short sale on a cute little ranch home in East Canton, Ohio last week. The sellers now feel a tremendous amount of relief. They are free from the burden of no longer being financially able to make the payments on a property that once was their dream home. They can now move forward with new plans for the future. Sure, their credit will be bruised for a couple of years, but not as badly damaged had a foreclosure taken place. No one can predict the future, but my sellers may be able to purchase a home once again in two or three years.
"Help me to help the lender to help you!" (Quote - Will Weaver, Floyd Wickman Trainer)
The buyers are equally happy in that they now own a home with instant equity, and are enjoying the peacefull and quiet entitlements and benefits allowed by homeownership.
The loss mitigator is happy in that still one more non performing asset file has been cleared from her desk as she helped the lender to move out of the quagmire in which we all find ourselves.
A lot of people need to be thanked for contributing to this successful sale:
1) Floyd Wickman and Will Weaver for their Short $ale Survival Seminar. Will Weaver's words kept echoing in my ear: "Help me to help the lender to help you".
2) The seller that continually communicated with the lender in order to make it all happen. The seller certainly helped me to help the lender to help the seller. The lender helped me to help the seller.
3) The buyers who remained faithful and patient through it all during the bleak times.
3) The selling agent that skillfully and diligently represented her buyers and certainly went the extra mile as well as out on a limb in getting this property to qualify for an FHA approved loan. (Thanks, Linda)
4) The lender (CitiMortgage, Inc) and the loss mitigator (Thanks, Mia) Both were so very nice to work with. The lender helped me to help the seller.
5) Dan Forbes, REALTOR here on Active Rain, who had shared his wealth of knowledge about short sales with many posts about short sales.
The thing that made it all possible was that everyone communicated with each other!
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Jim, This is confirmation that we all need to work together. Congratulations to you, your seller and your entire "team" in bringing this property to the settlement table. Did you know there is a Floyd Wickman group on Active Rain?