Can I Settle With Underwear?

This when you really want to say I told you so but being a professional you should always defer to the other professional whose advise was taken. Is this what we got in this business for?

She can't call her accountant. He charges by the hour...

People get bad advice from lawyers, accountants, co-workers, people they meet at the flea market, neighbors, friends, family, and from garbage articles they find on the internet.

We can only help those who are willing to listen.

Thank goodness we are not allowed to act as accountants OR attorneys.  You tried. Very disgusting that she reacted with such entitlement. You play, you pay.

Jon, 

Sadly folks think they can put their head in the sand and their problems will disappear.  DEALING with challenges will always be better.  It puts you in control to make better choices.  We find folks don't want to deal and then aren't happy with the end result.  REALLY?

While there are folks that have a lot of factors out of their control, it's disturbing the amount that don't and just believe they can walk away with no issue.

All the best, Michelle

The accountants and attorney's advice is always going to be to foreclose. And the homeowner will probably most often follow that bad advice.

But she lives there rent free/mortgage free for 2 years... where is that money that she saved?

Well, you tried!  It looks like she will have to face the consequences of her decision.

Jon - I probably would have hung up on her after I told her to call her accountant. 

Jon, I don't give advise on accounting or legal advice. The accountants and lawyers should respect that thought and not give advice on real estate

Hi Jon, Congratulations a terrific post and certainly worthy of feature. In our country today the publicity and the volume of foreclsoures made many feel that since they weren't the only one, it must be OK too just hold out. While we are a nation of laws and contracts that are breeched have to be eventually be reconciled, I think those charged with giving advise and guidance does not insure that it might or might not be in the consumers best interest. Sadly, there is no one right answer and we as REALTORS® have no authority or the right type of license to give advise even if we might disagree or even if we might have been correct in our opinion.

Staying in a house for 2 years and not making payments...what did she expect?  She was lucky to have two year.  It's amazing to me on how many people don't look at all their options and the pros and cons of each then make bad decisions and blame someone else. Great post, Jon!

Just think - if they had waited until January to foreclose, she might ALSO owe income tax on the forgiven debt.

But why yell at you? Because you didn't force her to do the short sale? Because you didn't make her house payments for her? What??

Unfortunately there will always be people who blame everyone except the person looking back at them in a mirror.

Not an uncommon story here. People trying to live somewhere for free. It's always someone elses fault.

Jon, this reminds me  of a terrible experience I had with my solo short sale listing where seller decided to file bankruptcy two hours before closing! Still hurts when I think of that incidence!

Find a good attorney/CPA that you can partner up with that REALLY understands short sales. Most attorney's are not very familiar with non-judicial foreclosure or short sales and often give erroneous advice to clients. While you can't prevent your client from talking to their own people....if you have a good Attorney/CPA that you can send them to, most will see the light. This has helped tremendously for me with showing people the real advantages of a short sale....and they get their legal/tax advice squared away at the same time. 

It's funny after 2 years of living for free she still feels like the world owes her something. Typical! 

I don't understand why so many people think that they can take out a loan, and then quit paying on it.  All this while continuing to live in the home. 

Thanks for sharing this Jon, its sad that lack of character is accepted and practiced so often, and to have a cpa recommend it just makes it that much worse.