Sticking Your Head In The Dirt Won't Make The Problem Go Away

By
Real Estate Agent with Tutas Towne Realty, Inc.
http://actvra.in/D8s

Alea Reserve Davenport Short SalesA couple weeks ago I was contacted by a seller who wanted help listing their home in Aldea Reserve in Davenport as a short sale. They had not paid their mortgage since the beginning of 2010 and were afraid if they didn’t do something soon they were in danger of having the home foreclosed on and they were hoping to avoid that kind of hit against their credit.

Of course I agreed to try to help. We got a letter of authorization and I got in touch with the lender and started the short sale process. We were in the process of listing the home for sale and the lender called to inform me that the home had been scheduled for a foreclosure sale. In two weeks. They also informed me that they would not cancel the sale date unless there was an approval on the short sale. Essentially we were stuck in a rut.

Even if we could have gotten a buyer on board and submitted the whole short sale package they planned to foreclose on the home and were not willing to bend. We got a trusted real estate attorney involved in hopes that he could somehow stall the foreclosure date to give us time to process the short sale. He couldn’t help unfortunately. The owners has just waited too long to start the process and there was no way for him to stop the sale unless they went bankrupt, which they were not willing to do.

The owners hadn’t paid their mortgage in a little over two years. By the time they started looking for serious help with the problem it was too late. Sadly, their home was foreclosed upon yesterday. I feel terrible for them and I know I could have helped them with a successful short sale if they had contacted me earlier and we had time to process the short sale.

If you are in this kind of situation, sticking your head in the dirt and hoping the problem will go away just isn’t the solution. The problem isn’t going anywhere until you take steps to solve it. We can help you with your Davenport Short Sale! All you need to do is call!

Image courtesy of Lehigh Valley, PA at Flickr

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Re-Bloggged 3 times:

Re-Blogged By Re-Blogged At
  1. Terry McCarley 06/29/2012 11:05 AM
  2. Gene Riemenschneider 07/03/2012 09:19 AM
  3. Winston Heverly 11/24/2012 09:01 AM
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Topic:
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Florida Polk County Davenport Aldea Reserve
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Anonymous #48
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June 30, 2012 03:14 AM
Rainmaker
473,101
Chris and Dick Dovorany
Broker/Associate at Premiere Plus Realty
Homes for Sale in Naples, Bonita Springs and Estero, Florida

Wow, don't ya just love it.  People are savy enough to buy a home yet when a problem arises they just do nothing.  I really believe they deserve to lose the house.  What happens if the heat or a/c goes out?  Do they fix it or hope the good fairy will arrive in the middle of the night to take away all their problems.

June 30, 2012 08:59 AM
Rainmaker
613,422
Bob Miller
The Ruiz/Miller Team - Ocala's Dream Team
Keller Williams Cornerstone Realty

Hi Nathan, I am amazed at how many people still wait too long or chose to just give it back without trying to short sale.

June 30, 2012 09:12 AM
Ambassador
1,709,012
George Souto
Your Connecticut Mortgage Expert
George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut

Nathan, people often wait to long hoping that things will just somehow change.  Unfortunately nothing will change until they do something to bring about change.

These people learned a hard lesson that hopefully they will not repeat in the future.

June 30, 2012 03:59 PM
Rainmaker
187,051
Woody Edwards
A Realtor® Who Answers His Phone!
First Choice Realty, Inc

Is it possible the bank started the foreclosure when they received your short sale papers???

June 30, 2012 10:12 PM
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Rainmaker
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Nathan Tutas

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