Without a doubt, it is saving all my clients' homes from foreclosure. The one success story that stands out from all others in particular came about because of my blog.
Last summer I received a call from a homeowner who had stopped paying their mortgage. A Notice of Default had been filed with Riverside County California recorder's office and made public. The homeowners had approximately 90+ days before a Trustee Sale date would be set by their lender to sell their home on the courthouse steps. Knowing they were facing foreclosure, they had already moved out and were renting somewhere close to family. They asked me if it were possible for them to short sale their home.
After listening to their hardship and why they had to move, my answer was yes, of course, they could apply for a short sale. Their home was put on the market shortly after the new home buyer $8000 tax credit had expired. I guess all the buyers that wanted to buy had bought, because we received very little interest. I was surprised because it was a lovely home in a desirable condominium development, priced at fair market value.
We waited and we waited. Knowing that any property will sell if it's at the right price, I suggested we lower it. We did and received an offer soon after. By the time I had the short sale package in order, my clients learned there was a trustee sale date set for the following week. We were told by my clients' lender they would postpone the trustee sale to review the short sale package and purchase offer.
I spent Friday evening faxing 120 pages. On Monday I called and they said it was too late to postpone the trustee sale - the property was going to foreclosure! I argued with the representative. I was told the trustee sale would be postponed and our package given a chance for review. There was no budging on their side. That was it. With sadness and a feeling I had failed my clients, I informed them of the outcome. They understood. However, I could not accept the result, so I decided to write a blog about it.
Here it is with all its guts!
http://activerain.com/blogsview/1834969/my-dear-john-letter-to-indymac-aka-onewest-bank-
The glory came later that day when the bank's customer representative emailed me for more information. She had read my blog! Long story short: we are now in escrow and scheduled to close this month. My clients will be getting out of mortgages that are impossible for them to pay. A buyer will get a great home for a fraction of the original purchase price.
The best part of all of this is because of that one, seemingly insignificant blog post I wrote, I accomplished what I could not have done otherwise. Will I continue writing blog posts in 2011? You bet I will.
