My house was foreclosed and I did not know…

In the last week I have received many responses to the last blog that I wrote (Do They Really Know What They Are Doing?).  The majority of the people (who happened to be homeowners) have told me that after working a short sale with Bank of America for months, and having strong offers, the bank foreclosed and never gave a response to any of the offers.

One of these was a homebuilder who had more than $200,000 equity in his house, and even so the bank foreclosed. Well, BOA clearly shows the it has no feelings involved with these processes. I truly believe, however, that it is my responsibility as an agent to follow up with this bank and make sure that my listings are not foreclosed in the middle of the process. I can say that I have saved each of my listings from foreclosure between two and four times each during the short sale process. It is a long and frustrating process, one in which I spend over three hours doing it each time, but I truly believe my clients deserve this time and effort.

I show the bank that it is a good business decision not to foreclose, and when they see that I do not give up calling and calling until the extension is given (I think I become a pain in their…), then they do it.

Your clients really deserve an agent who is working in their best interest.  Are you really up for all this hassle?  If the answer is no, please refer these clients to an agent who is willing to make this commitment and has the experience to make it happen.  It is better for everyone involved, and could mean the difference between bankruptcy and saving the client’s financial future.

Leave a Reply

You must be logged in to post a comment.