As a cancer survivor myself (Hodgkin’s Lymphoma at age 23!), I’m very involved with a local cancer charity, and last year I met a family that was in foreclosure and who’s son had a rare form of leukemia. The wife had to leave her job to take care of the son’s medical issues full-time, and the mortgage just wasn’t in the cards once that happened. If anyone was deserving of some of the special programs out there with short sale incentives, it was these people. We attempted to short sale their home but they got no offers. Then Bank of America gave them hope of a loan modification, so we decided to take it off the market as they really preferred to stay in their home.
This week I was driving through their neighborhood looking at another property for a client of mine, and I started thinking about them and decided to text the homeowner just to say hello and that I was wondered how they were doing. She wrote me back and said “Well we have a foreclosure court date tomorrow and have to be out by March 15th – the same day my son finishes his cancer treatments.”
I immediately called her and told her I had a crazy idea. I asked her to attend the court date and request an extension. I told her I had an investor in town who was going to be looking at properties with me the next day in that area, and what if we were to try one more time with a short sale, and perhaps I could get him to write an offer on it and we could not only stall the foreclosure process, but perhaps halt it, and give them a little more time. She agreed.
Yesterday she attended the court date with her husband and they told me that out of 50 homeowners who’s files were being reviewed that day by the judge, only two families showed up to defend themselves (including them). The reportedly tough judge that was presiding over their hearing asked them if they still lived in the home and they said yes, and they told him they’d tried a short sale and loan modification but that Bank of America had been less than cooperative but that they wanted to try again. The judge recognized that they were trying and granted them a 90 day extension to try to short sale once more. And guess what – my investor did write an offer so now these people have another shot at avoiding foreclosure. And the best part – their son looked amazing and healthy, and was talkative and is doing beautifully. I’m so happy for him regaining his health.
What are the chances! I happen to be in their neighborhood and they happen to have a court date the next day – call it fate or a higher power intervening, I just hope that whatever it was will also force the hands of Bank of America and allow this home to be short sold. I haven’t had them say no so far to one I’ve submitted, so fingers crossed!
My point in writing this blog is that if you are facing foreclosure, whether you want to stay in the home or move out – don’t just let it foreclose. I know its not easy but you have got to fight back. It will haunt your credit forever, and there are measures you can take, and programs you can apply for that will help you get back on your feet. If you may be facing foreclosure, please call me today and let’s talk about your options – even if you aren’t sure you want to short sale, I’m happy to explain all the avenues available. I’m a Certified Distressed Property Expert and I have a 100% success rate getting short sales to the closing table, and my goal is to make the situation less stressful for you. The only way we can clear this real estate market of foreclosures and distressed properties is by working together to fight back, and I’m here to help.