Not too long ago, I had an online exchange with a local blogger who asked: "Do you specialize in the sob story listings?"
Well, it looks like I have TWO new sob story listings. There's a possibility of a third coming up. In the interest of brevity, I'll only mention this story.
SOB STORY #1
Yesterday, I received a call from a nurse who was ready to surrender to foreclosure and let the bank take over the condo that she bought for her seriously ill brother and sister. Sadly both siblings died shortly after moving in. Since her resources are limited and without additional income, she couldn't keep up with the payments. She tried to get her realtor (who sold her the condo) to help sell it as a short sale, but she said that realtor seemed disinterested. Even after she called him a few times after they talked about short sale, he didn't call her back.
She called me out of desperation, and I told her I would help. I first put her in touch with someone who does loan modifications, but it was determined that it won't work for her.
I explained to her what the ramifications are between short sale and foreclosure/bankruptcy, and she agreed to try the short sale route.
So I am in the midst of putting together the short sale package, preparing the condo for sale including doing some light staging. It's an uphill battle. No condo has sold in that complex for over a year, and the only other condo actively offered for sale is also a short sale.
It seemed that this nurse was breathing a sigh of relief that she found someone who would help.
"I WOULDN'T DO IT!"
When I mentioned to some folks what I'm doing to prepare these listings for sale, I was told that I'm doing too much for such challenging sales. One realtor even said he woudn't do it. So what does that make me?
He didn't say it in so many words, but he thought I was being sucked into doing things that won't make me any money.
But are we in this only for the money? God, I hope our humanity prevails!