Behind Every REO is a Heartbroken Family…

I remember receiving the text message on my TREO 700P, the day after Christmas…I received the first of 3 REO assignments in a 24-hour period. I guess the wait until after Christmas mentality was kicking in and it was time to clean off some desks and get those files moving before the end of the year.

The first one came in for the city of Perris, about 20 miles due west of Hemet, just an easy drive down the Ramona Expressway. I contacted my contractor and let him know that I was on my way to do an occupancy check, and to expect my call within the next 30 minutes, as I was expecting to make quick work of this simple task.

Well, I showed up in the neighborhood of 20-year old small homes on very small lots. The streets are narrow and it seems as if there is not enough curb space for the cars that belong on this block. Cars were parked so close on the street; it almost felt like an urban area where there are lots of apartments – but that is not the case here – all homes. Simple homes with some loud colors that boasted of a proud Hispanic culture.

I arrived at the subject property in the middle of the block – all brightly decorated from the Christmas holiday that had just passed the day before. In the front yard, behind colorful wrought iron fence protecting the home, I was three young girls and their mother with a small foosball table in the yard – obviously a family Christmas gift. I don’t think I’ll ever forget how much fun they were having…and how I would come to ruin their day in just a few moments.

Here I am in my black Mercury Sedan, stepping out wearing my new black leather blazer that I had gotten for Christmas, feeling like a “sharp dressed man” (as ZZ Top sings about). I know now, that I must have been a scary sight to those young girls as I turned the moms laughter into rage and tears as I explained to her, with the help of her eldest, acting as an interpreter, that they no longer owned the home and that they would have to move out.

I was very humbled by the experience, wishing I could find a rock to climb under. I left my paperwork and business card and asked to have the father contact me, as he is the only name on the deed.

Unfortunately, this poor woman was in denial. She did not share the news with her husband until the New Year. Dad showed up at my office on January 2^nd, with his daughter explaining in great detail the anguish of his wife and a very sad story that the family has had to endure over the past year.

Because so much time had already lapsed, and the lender had already started the eviction process, there really was very little I could do. I was able to raise the cash-for-keys allowance of $500 to $1,000 – but either way, I needed him and his family out by the 10^th, with the home ‘broom clean’.

On the 9^th, I called and checked to make sure he was on tract. He let me know that the family was gone and that he was working very hard cleaning the place up for me – to meet my standards that I had gone over with him at my conference table, in my office.

Today I called to confirm that the check had arrived by overnight courier – only to discover that his cell phone had been disconnected. So, I made arrangements with my contractor to meet me at the property at 3:00 to change the locks out and let me take my needed photographs – hoping to find the displaced homeowner there so I cold give him his thousand dollars.

Fortunately, the last truckload of debris from the yard was just being loaded into the back of his Toyota pick-up truck. He took a break and walked me through the home. It really was very nice. Nice ceramic tile throughout – new kitchen cabinets – freshly painted walls. All in all the home appeared to be very well cared for and definitely showed the pride that 10 years of ownership provided. If it wasn’t for the lure of easy money and pie-in-the-sky refinancing, this tragic tale would never have unfolded.

As I am taking my pictures, I realize there in no cooking range or microwave exhaust system. I question and he admits that he took it with him. He was very proud of the new appliances as they were less than a year old. I explained that he had to bring them back. I explain the best I can about “real property” and how the home came with a oven and it needs one now. He corrected me and told me he bought the property from the bank and it had nothing in the kitchen when he moved in.

I tried making a few phone calls, looking for an exception, or some sort of authority telling me what had to happen – relieving me of my burden. Sometimes, I just hate voice mail and sometimes I just hate this gift that God has apparently given to me – making me a compassionate soul. It would be just so much easier if I could just be a jerk when I wanted to…but no, I have to feel his pain and the pain of his family comes right back to me, visualizing his daughters and his wife playing foosball the day after Christmas.

So, I try and figure out what I can do…what WE can do…what does God want me to do? I ask him if he can come up with an old unit somewhere - maybe a used appliance store in the area and go buy one for $50 or $100 bucks?

He tells me he has the one from his new rental that he pulled out for his own newer better model – it is sitting under a tarp at his new rental house. Bam, problem solved. He drove over to the new home, loaded it up and within a half hour we were all done.

What was nice, he brought his oldest daughter back with him to help. She is actually 17 years old, graduating from high school this year, turning 18 in July and will probably join the U.S. Army as an MP, right out of high school. She is currently a Captain in the Jr. ROTC at her school and an Honor Roll student. I felt so proud of her.

We talked a bit bout the future and then dad asked me if I could help him get into another house in about 6 months, after he can save some money. He knows his credit is shot, but the loan was only in his name and not his wife’s – so he believes he has a way back into the housing market, as soon as he is ready…and you know what, if he is serious about working with me, I’ll get him that house, by God!

So please remember, as you go from REO to REO listing, that you are walking in the tear stained footsteps of an American tragedy.

Now Have a Blessed Day,

John Occhi, REALTOR®
Century 21 Crest - CrestREO
CrestREO.Com
Hemet - San Jacinto Valley
951-927-9473

Author of "What You Need to Know...About Foreclosure and How You Can Stop It!" - If you are a Hemet or San Jacinto Homeowner.

This blog and the contents written here is the intellectual property of John Occhi, Hemet California REALTOR®. The views and opinions expressed are just that - views and opinions of John Occhi and those who comment. Please note that I am not an attorney or a tax professional and any time I discuss either topic, I suggest you consult with the proper professional for relevant assistance.

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