The story is all too familiar today. I went on a listing appointment, the male seller is disabled and the female was temporarily off work from surgery. They were able to keep up on their payments but it was getting tight. So, they refinanced to help out in a pinch. Now we fast forward a few months, the second installment of the real estate taxes are due and they go on the last day to make the payment. The mortgage company already paid the taxes they are told. Now the mortgage company pays the insurance. Their payment skyrockets and they can't pay it anymore. I am advertising their home everywhere I can think of to get it sold but they just can't hold on. Mrs Seller goes back to work but they just can't seem to get their head above water. Mr and Mrs Seller go see an attorney who advised them to file bankruptcy. I suggested that we could contact the bank and see if we could negotiate a short sale, which they did. The mortgage company would not answer or return their calls. Finally after a couple of months they finally talk to a human at XYZ mortgage company and she tells them "No, absolutely not they will not even consider a short sale!" I went over to their house last night, withdrew the property from the market and shed a few tears when I left. When I told her how sorry I was that her house didn't sell she looked at me with a tear in her eyes and told me "Tammy, you are the only person that has even tried to help us." I suggested again that I would contact their mortgage company but she declined. They just gave up. I feel so bad for this couple, they are probably in their mid to late 50's and said they'll just rent for the rest of their lives. I have to wonder where compassion went to in this world!!
RE/MAX Preferred - Collinsville
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