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Recently I've had the unfortunate opportunity to work with several sellers who not only have been facing financial hardship, but dealing with the side effects that the stress has put on their bodies.
In my last short sale transaction, a couple who are in their mid-sixties came to me with a mountain of paperwork from their various efforts to obtain a loan modification. I'm sure you know the scenario; they became behind in their payments and were courted by the typical sharks out there looking to steal whatever cash might be left in my seller's bank account only to not produce anything but heartache at the end.
Their story dated back to 2008 when the husband went through emergency coronary bypass surgery and placed on permanent disability. From that point on, they weren't making enough money to cover their mortgage payments and he was in and out of the hospital from various illnesses related to his coronary.
The day I took the listing, my seller's seemed to be in relatively good spirits considering all they had been through. We shook hands and at the end I promised that I would do my best to prevent the foreclosure they had been facing.
I received a phone call the next day from the wife informing me that her husband had been transported by ambulance that night at 2:00 am. From there this gentleman was in and out of the hospital. I'm grateful to report that we did have a successful short sale, however, the stress of the bank's filings were hard on my sellers.
Unfortunately, all stress was not to be avoided. The agent on the other side wanted my sellers (with 20 years of belongings in their home) out by 5:00 pm as per contract. We asked for one extra day and were declined without the agent even asking his buyer who wouldn't be occupying the home as he was going to be remodeling. We resigned ourselves to being out by 5. At 4:00 pm on the day we closed, the buyer's agent showed up, harassed my client informing them that they had to be out, pointing to his watch. The very thing we set out to avoid (sheriff coming out and evicting) felt like it was happening. Not once during this transaction did my seller breakdown...until the buyer's agent showed up.
I just received a phone call from another seller facing foreclosure...his wife was put in the hospital yesterday.
