A Happy Day for the San Jose Short Sale Agent
It was a pleasant, beautiful sunny day today as the San Jose Short Sale Agent drove around previewing some homes while listening to some oldies on the radio. It turned into a much nicer day when my client who was closing on his short sale today, invited me to lunch after he picked up his check for the $3000 relocation assistance check from his HAFA short sale. He was so excited that the nightmare was ending, that he wanted to celebrate with me.
It a little over two months ago when he contacted me, feeling he was at the end of his ropes. Chase had just informed him they were denying his request for a loan modification after dragging it out for months and the prospect of staying in his home was now up in the air. But he had made up his mind. He realized, despite his emotional attachment, he could no longer afford to keep the home. He had to give it up and move on with his life and make a new life for him and his family.
In a little over two months, that same lender – Chase – was willing to allow him to sell his home for a loss, forgive him the deficiency, but on top of that gave him a check for $3,000 to help with the relocation to his new rental. As we were discussing over dim sum lunch, he was so happy and grateful that he is able to move forward without the burden of his mortgage, he seemed like a different man. He was saying he could not sleep even last night, because he was concerned that something could go wrong and we would not be able record the deed and close escrow today. He was going to sleep well tonight! My client is now a friend and an evangelist on my behalf.
We were discussing why more people who are in similar situation as himself would not choose his route if they were unable to get loan modifications or otherwise afford to keep their homes. We came to the conclusion it is probably due to lack of information. If distressed homeowners knew that their income tax exemptions and the benefits of financial incentives from HAFA were ending soon, they would probably take decisive action as to prevent missing out on those valuable benefits. He would tell his friends whom he knows are having difficulty paying their mortgages to take action.
Dear reader, if you or someone you know, are in a similar situation where you have come to the conclusion that you cannot afford to keep your home, but you cannot sell your home either because of the debt you owe to the banks, please take action soon and before this year is up. Naturally, if you reside in the greaterSilicon Valley, I would love to help you so you can move forward with a new chapter in your life.
However, I am not saying you have to come to me necessarily; I respectfully and sincerely urge you to talk to someone who is an expert in the field of Short Sale and get help soon before the two programs expire. I think I would not be doing my job and my personal quest to help as many people fight foreclosures if I were not educating people about programs that are available; yet many people are not taking advantage due to lack of information.
Please talk to someone. Indecision means you are making a decision to allow foreclosure to happen to you.
