2005 was a good year for many of my clients. They had good paying jobs. Things were looking good indeed, and many of them qualified to buy their first home.
Pooling their resources, my clients, a couple of sisters, bought a duplex together to enable their extended family to live together. Mom and Dad, one sis and her husband lived downstairs; another sister, her husband and young children lived upstairs. They loved their duplex. It even had a nice yard where they had family gatherings to celebrate special occasions.
What a difference a few years make! 
Fast forward to 2009. Job loss claims another victim.
Unfortunately, they faced drastically reduced incomes when members of the family were laid off. Now, even with their combined resources, they fear that they will not be able to keep up with the monthly payments.
So they have decided to sell their duplex and find a place to rent instead.
LIMITED OPTIONS
Loan modificaiton is a possibility, but their monthly payments won't be significantly reduced.
So it looks like they'd want to explore selling their home as a short sale.
>SIGH<
This is one of those listings I wish I don't have to take. But they came to me for help. And I will do everything I can to ease the transition for them.
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