The life of an active REO Agent is a difficult one, believe me! Woe is me! Have pity upon me!
Anyway, the Glendale, AZ Arrowhead Home Team at www.ECFahrner.com has gotten a new REO assignment, and we're working hard to move out the former homeowner who lost her house at the foreclosure.
It's all part of my job as a fiendish REO agent, you know, to throw widows & orphans out onto the streets, to huddle together, shivering in the cold. Hungry. In the pouring rain.
(Later on, I think I may kick a puppy!)
OK, not quite - but you KNOW darned well that's what a lot of people think we do!
Even though we have to evict people, we like doing it the right way, so everyone can make the best of a bad situation.
Some background: As you may know, after a foreclosure on an occupied house, most banks will offer "cash-for-keys" move out assistance where, in exchange for receiving the keys & possession of the house in good repair, with all attached appliances intact, and in a broom-swept condition, the occupant gets $$$ (and sometimes lots of it) to help hire a moving van, pay deposits & utilities, and so forth, on a new place to live.
It's a good deal for the occupants (some of whom are renters who never had a clue their landlord was going down the tubes - and taking their "refundable deposits" with them.) And it's usually a good business decision on the part of the banks, who might otherwise find themselves bogged down in a long, drawn-out, expensive eviction quaigmire.
This particular home was damaged last fall in our Epic Glendale Arizona Hailstorm. The former homeowner's insurance company finally approved a payout (about $20,000 worth)... but the property was foreclosed upon AFTER the check arrived but BEFORE the contractor even had a chance to start!
Maybe - just maybe - the "typical" foreclosed homeowner would say, "to heck with it" and walk away... but not before destroying the home on the way out. But this case backs up my belief that there are a lot of ordinary, decent folks out there who got caught up with the overall bad economy, and are losing their homes because of things beyond their control. Live, learn, take your lumps, and move on.
The former homeowner wanted very much to see the repairs completed properly before she moves out. She says "it's the right thing to do." I agreed, and advocated to the bank that the work be done, while in the meantime, she packs up moves out. The bank agreed, and offered her $5,000 in moveout assistance $$$. (Which she'll probably spend every penny on for moving and storage costs - the house is HUGE and has a GIGANTIC lot.)
This is what's called "doing it right" and treating EVERYONE with dignity and respect. And one of my BIG goals in this case: I treat the former homeowner with so much respect, fairness & dignity, that she actually recommends me to her friends and family who may be looking to buy or sell a home of their own!
Comments(1)