Dear Lender.....
This is a difficult time for many homeowners...and I am working harder than I have ever worked before to help homeowners who for reasons of hardship cannot pay the mortgages and home equity lines that they have borrowed from you.
At the time you lent them the money...You believed that they were capable of making the payments. You believed that their home was worth the amount of the mortgage and very often, the additional second mortgage or HELOC (Home Equity Line of Credit) that you extended to them.
The homeowner, as the borrower, believed that they would always be able to work...they didn't plan on cancer. They thought their company would always need their skills, they didn't ever think they would be employed. When they got married, they vowed for "better or worse" and did not plan on ever getting divorced. They never realized to get re-employed they could not remain in the state and they will have to start their lives over thousands of miles from the only state they have ever called home. When their mortgage "adjusted" they did not realize it would be at the same time that their hours at work were also "adjusted" to fewer so more expenses and less pay has made it impossible for them to remain solvent and in their home.
Mr. Lender, no one planned on having the economy be what it has become in many neighborhoods...no one planned on not paying you the amount they borrowed....and you Mr. /Ms Lender must not have planned on that either...or you would not have lent them the money.
Life happens, not always as any of us plan it to happen. When I call you to tell you that I have an offer for one of your mortgagees....know that I have done the very best I can to market it. I have spent hours in the night worrying about the sellers and helping them to cope with their situation. I have sent their dinners, dried their tears and gotten you the very "highest and best" offer I could. I know to you it is a business transaction, to your mortgagee and our sellers, it is their life...know that we have all tried to do the best we can given what there is....and I ask you not to continue to ask for one more piece of paper which in the "big picture" does not matter...it delays the closing and adds to the taxes and other expenses that you are being asked to absorb in this transaction. Know that I brought you an offer from people who will take care of this home...you won't be paying the maintenance, taxes, insurance, repairs. It won't be left vacant with a possible opportunity for vandalism, for the power to go out and the sump pump not to function and the basement to flood. The roof won't leak and the ceiling fall with no one there to notice...the grass won't be left uncut and the snow unshoveled. You won't have to foreclose and incur legal expenses and more months without payment adding to your debt burden and making your balance sheet less than you your business plan designed it to be. Know that we tried our best...that our sellers tried for as long as they could....and life happens. Thank you for accepting the highest and best short sale offer I could possibly bring you and thank you for understanding that we all did our very best.
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