Poignant anxiety vanished

So what’s the history of this Short Sale?  We tried to sell the home as a Traditional Real Estate sale as we weren’t $100’s of thousands of dollars upside down so we thought, just maybe, we’ll be lucky. Well luck ran out and on the Short Sale circuit the home went, even after offers had come in as they were below our list price.  This just further assured the fact, that the home would sell quickly at it’s true market value. Soon thereafter, we received a solid Short Sale offer. After all, the home was lovely having been well cared for by the distressed Seller. Distressed Seller doesn’t mean that you cannot find a beautiful home being sold as a Short Sale.

My Seller had an awful lot on her mind from losing a job that she never anticipated having to ever have to worry about losing to having endured critical medical concerns in her life that now selling her home was putting her at the point at about all that one could endure which resulted in a lot of anxiety.

To this point, I’m sure you understand that this is a lot for anyone to handle. Yet, we’re just getting started.  The Short Sale package had been submitted to the Seller’s Lender and through their review it was determined that the Seller must contribute at closing for the Short Sale to be approved. Plus the only way to have any deficiency waived was to have the Seller contribute, otherwise they were going to reserve the right to pursue the deficiency; just one more thing for the Seller to worry about. 

The Seller’s Lender had reviewed the retirement account of Seller and said monies were there even though they knew that they could not touch a Retirement account. A little crazy I’d say in acknowledging this. The Seller did not want to contribute. The Seller was at a point in which going forward and maintaining perfect credit didn’t matter. She had not even missed a mortgage payment.

In looking at the numbers of what the Investor would net and what their loss would be, it was very clear that a foreclosure would most certainly eat away at the minimal losses from a Short Sale.  I was able to make the argument that the Seller would rather be foreclosed on then contribute monies and this would be far from a win-win for the Investor which really was a very obvious choice for Investor. A few days later, I received a Short Sale approval letter with no Seller contribution and deficiency waived with account showing settled for less than balance owed. Yes!

I phoned the Seller to tell her of the good news and poignant anxiety was eliminated at that very moment and tears of joy overwhelmed the much relieved Seller. Once again, I’m reminded of the pure joy that I feel each and every time I play a part in saving a homeowner from foreclosure. It was a very poignant moment indeed. I hung up the phone, sighed a bit of relief having been moved by my most grateful customer/Seller. This is why I love helping Sellers avoid foreclosure; it is very very rewarding as I’ve said again and again and it never gets old! Yes, truly poignant.

 

Mortgage Assistance Relief Services Disclosure

Keller Williams Partners Realty is not associated with the government and our services have not been approved by the government or your Lender. If you stop paying your mortgage you could lose your home and damage your credit. Your Lender may not agree to the change of your loan and/or a Short Sale.With a Short Sale, there are no guarantees offered and we cannot provide legal advice. Seek legal advice.