Every now and then I get a listing that becomes very personal. This is one of those stories. In my neighborhood, I got a call from a seller in need of help. His wife had recently had a stroke, he was retired and they were facing a foreclosure. The couple was in their mid 80’s. To be clear, they were doing everything to try and clear up an issue with a mortgage holder that had switched them to another lender and not properly informed them of the new mailing address for their payment. Long story short, they were getting nowhere and were being sent to foreclosure. Their only solution was to do a short sale.
Now, no one, in my opinion should ever have to deal with such a thing in their golden years. The bank in question has been far from cooperative and in fact almost ruthless in trying to kick these folks out of their home, even though they were the source of the problem. Now, add to this the buyers. They approached me about this home early on and submitted an offer that was acceptable to the bank. They were also just beginning to form a family, as the wife had just become pregnant. The problem was that this home had not one, but two lenders that both had to sign off on the short sale. Trying to coordinate the timing of both approval letters was beyond ridiculous. Over the course of a year we would get one letter and by the time the other would submit theirs, the other would expire. We would get very close, only to have one of the two lenders fail us.
At one point, we had the one letter and got the second about 2 weeks after, only when we got the letter, it was sent to us expired by three days! Needless to say I was about to lose my mind. With the help and patience of our short sale team, we were finally able to get the timing right. I am happy to say that while it’s taken over a year, we are finally closed!
The point of my story is that many times, what we do for sellers and buyers is not motivated by money. It’s about doing what is right and helping people. It’s about standing up for these who don’t know how to stand up against corporate greed. Both parties in this deal were beyond realistic and patient, and for that I thank them. The new buyers have their home for their new baby for Christmas, and the sellers can now rest assured that this ordeal is over. This deal was a challenge, but one I am glad I took on. Best to you and yours!