Honestly, no one really feels good about walking away from a debt. In SE Michigan many homeowners really didn't have much of a choice. Unfortunately, many waited too long and lost the opportunity to deed their property back to the bank or negotiate a short sale with their lender. I read that nationally 70% of people in trouble with their mortgage don't do anything and just wait for the house to go back to the bank. This is a really sad thing. Watching too much television news about the economy could make anyone hide in their house!
I know many Realtors don't want to go down the short sale road with their seller or buyer clients but I've had some pretty rewarding experiences the last couple of years. Not that it didn't make me more than a little crazy trying to get these deals done! Yikes! Short sales are not for the faint of heart. But knowing you helped someone get out of a really scary situation and move on with their life is really a cool thing. We've talked to lots of people that just needed to be pointed in the right direction and they could work out their own mortgage rescue.
I've never been prouder to be a Realtor than I am right now. We work harder than we ever have but the rewards can be awesome!
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