I've closed dozens of short sales this year, but none have brought me more satisfaction than 6369 W. Standing Elk Trail. Working a short sale with Nationstar is always challenging, but this one is one for the record books. It began as a Bank of America short sale, but was service transferred to Nationstar part way through.
Auction.com entered the fray when we were told that we needed to market the property on that site, even after we had an offer that was well above Nationstar's required net. Auction.com is a blog post for another day, but after calling in some Congressional intervention I succeeded in keeping it out of Auction.com and on the long and winding road to closing.
I would sincerely be interested to know if anyone, anywhere, ever has had a short sale take this long from start to finish. If so, I would like to shake their hand. I listed this house on October 17, 2009. It was just a few weeks away from a mid November 2009 trustee sale. What a mind numbing four year adventure this Coeur d'Alene short sale was. We closed on November 4, 2013. A successful HAFA short sale with Nationstar Mortgage. Sellers were released from recourse for the deficiency and received relocation assistance to move on with their lives. At long last, success.
Many people asked me over the four years why I didn't throw in the towel and move on. Why was I wasting my time? Honestly, because I committed to the homeowners that I would see them through to the end. Who could have ever imagined that it could possibly take four years? Never, never, never give up!
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