Hi folks. Short Sales. Why do I spend so much of my time messing with these things? Isn’t it true most people are just doing them to avoid honoring their promissory note? They borrowed the money they should pay the mortgage. Deadbeats!
I closed on a Short Sale a few months ago. The Seller had owned the house for 27 years. It was the retirement home for him and his wife of many years. After 30 years of hard work they were finally able to retire and move to Florida, pay cash for a home and enjoy their twilight years together.
All went according to plan for 20+ years. Then one day Mrs. Seller was diagnosed with cancer. After several years of surgeries and treatments she finally had to be sent to a nursing home. Her husband, now almost 80, could no longer take care of her.
Mr. Seller was forced, by high medical bills, to place a mortgage on their home for $175,000. Less than 2 years later the money was gone and tragedy struck again……Mrs. Seller died.
Seeing his wife of 55 years suffer was just too much to handle. Mr. Seller, distraught, had a stroke. He too had to be admitted to a nursing home. He was 82.
Through all of this Mr. Seller still hung on and continued making mortgage payments. By the time I was contacted to help sell the property the value had dropped to $73,000. Instead of continuing to throw good money after bad he decided to go forward with a Short Sale. Deadbeat!!
I mess with Short Sales because real people need me.
Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.
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Hun...
Such a sad story. People make so many assumptions about each other. That's also sad.
TLW...ROAR!
Brian, so many of the foreclosures and short sales we hear about begin with some sort of health issues. We do need to fix our system somehow.
Bryant,
"Short Sales. Why do I spend so much of my time messing with these things?"
Because you are what your are! BB the short sale man.
Bill
Bryant,
Heard the story today of folks who let a home go with $100,000 equity. Foreclosure due to personal issues.
Everybody has a story, and we shouldn't assume things about them.
Good job on your part, offering the services you do.
I am sure they are glad to have you to help them. What a sad story is right. They are in good hands, and this post is great. Making assumptions about people you don't know and have spoken to is ridiculous.
Bryant - THanks for putting the record straight. Most short sales are not caused by deadbeats, at least not in Tennessee. Most of what I see are due to job losses or divorce.
Legitimate hardships are the exact reason that a short sale should be done. Sorry to hear about your seller. That's very sad.
Bryant - I think most short sale sellers wish they did not have to do them!
BB, it is a wonderful thing that you helped this man through these horrible things. It is very bad to make assumptions about people. You know what happens when you assume...
It is always my pleasure to hear another of you success stories, they are not so much about your success at selling real estate (which is a fact, but bear with me) as they are a testament to the kind of man you are. I am proud to "know" you!
How do you call a person who loses a job, or suffers through a horrible physical illness a deadbeat? Some people just don't understand.
That is so very sad. It makes me think about all those collection agents who are so insensitive when they call folks on the phone.
"I mess with short sales because real people need me" and thank goodness you're there. I posted a similar sentiment tonight. It's not about numbers it's about helping become part of the solution!
I can't imagine a lender approving a short sale on a dead beat. Don't the lenders make more money with foreclosures? My heart goes out to your Seller. How very sad to end life this way. My parents are both in their 90's and are sharing a room in a nursing home. They still are enjoying life. I visit them every other day and we play dominoes, reminisce, tease each other, and laugh. I hope he has family who visits him.
It makes all the difference in the world when you are in a nursing home. I see so many lonely people there. I try to say hi and brighten up each person's day on my way down the hall to visit my parents. Sadly, I know for some, it's the only real human contact they've had all day. The staff is very, very good, but they are so busy that they are focused on the task, not the person.
Hi Bryant... KUDOS to you! I am a Short Sale Specialist for the very same reason... my clients NEED me. They wish they didn't and I wish they didn't, but they do need me, so I am there for them. My short sale clients are often the kindest, nicest people you could ever want to meet and live VERY responsible lives that have been turned upside down and thrown into turmoil by forces that they could not control or foresee. If that is the definition of a deadbeat then I have been using the wrong dictionary!
Aww. I feel bad for this family. I don't think people who are selling via short sale are deadbeats. Most of the stories I've heard have not been because of irresponsibility.
Nothing better than walking out of the closing attorney's office and saying good bye to them after the closing. .(finally) They have tears on their eyes and hugs for me. . I truly love helping them!
It would take an uninformed person to make a judgement call like "deadbeat". When they don't have all the facts.
Sad story but not a deadbeat.
Hi guys. I was thinking about this story again last night and it made me sad. I jusy can't even imagine being that age and having to deal with being flat broke. Of course we all hear these stories every day. We have a very hard job.
Thanks for stopping by.
Hi Bryant, thanks for this post. There are some incredibly sad stories out there. People should not rush to judgment nor be ashamed for some of life's harsher circumstances.
That is a sad story, but could certainly happen to any one of us. I don't see any problems with working short sales, even before you shared this story. Unfortunately, as you have shared, 'bad things happen to good people'. The end result was him having to complete a short sale. It does take a special person to work short sales though. Not just because of the stories, but because of the timing and processing of these loans. Patience is your friend.
Hi Dad, once again you have showed me how big the shoes I'm trying to fill really are. I strive every day to try to be the best Realtor(R) I can be. But sometimes we have to slow down and remember how important it is to be the best person we can be.
BB - True there has always been this stigma but I think less and less these days people understand it's the sign of the times. You are people's Realtor. They need you.
Hi Bryant- We hear the same type of stories everyday. It is enough to break your heart. THAT'S why we do short sales. They are not easy, not guaranteed, but a necessity. Until you walk in someone's shoes, a person shouldn't make judgments. Good Great job, BB and you definitely can put your head on the pillow at night and sleep, knowing you are doing what you can for folks.
Dixie
BB - After working on Short Sales and realizing how much more work this is, on top of having to sell a home like "normal", personally, I think we should be paid more than a normal transaction just because of the time and effort that goes into the transaction.
However, it is because of stories such as yours, that I would have done it for whatever pay I decide to charge, or not. Yes, we deal with people everyday. They all have stories. Your story made me cry. You're pretty good at that.
BB,
Pretty sad story unfortunately. That's short sales. As much as we have the highest pressure transaction you could do....I still am a glutton for punishment.....
Short sales are a way of helping real people. Unfortunately there are those among us as we as some lenders who do not understand the human aspect!
It is tough when you hear stories like this. It is great that you are stepping out to the plate and helping people in need.
Nathan...
You really do us proud :)
Mom TLW TLWM or whatever you're supposed to call me nowadays :)
P.S. I'm kinda leaning towards "Whatchamacallher" :)
ROAR!
Billie,
Maybe Nathan needs to call you the walking boss:)..taking off here boss!