I got a phone call from a potential buyer. I went to see her at her house. She said she had lost a house three years ago in a foreclosure. Her current home was underwater, and she was renting out all the rooms to make ends meet. She had gotten a loan modification and was now going through a second one. She said if the bank didn't give her a good loan mod, she was giving them the keys back. She wanted to buy another house in Oakland, CA where houses where now cheap. If she got a new house, then she would decide to let the old one go or not.
She said most real estate agents didn't want to help her. She said most agents were the same, but that I had been recommended by a friend.
I put her in contact with three lenders and none could pre-approve her. She didn't earn enough and her son didn't want to co-sign for her.
I told her to go on with the loan mod and if she got it great, if not, to do a deed in-lieu or a short sale. She told me...well, let's see what happens, and I was sort of dismissed.
As real estate agents, we want to help, but sometimes it's impossible. I felt this was a long shot, but I gave it a go just in case, and to tell my past-client who had told her about me that I had tried. If I were to get a call from her for a short sale I'd be surprised.
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