SHORT SALE, REO, FORCLOSURE, words that have become all too familiar in this unsettling economy. I can't help but think the sadness and sense of defeat that so many homeowner's have experienced losing their home. Such a contrast to the joy they must have felt the day they first moved in. To a lot of people owning a home represents the pinnacle American financial experience. I know personally, home ownership is my AMERICAN DREAM, my sense of belonging, and my sense of community.
In September of 2009 I got a call from Jeff and Kristy asking if I would help their daughter find a house and the search was on. The inventory was vast, the prices were great, but the process not so easy. In December we were in contract, and within two weeks we heard verbal approval from the bank (this was a REO property). Then, the game began, the waiting game. We waited, and waited and waited! Now, I don't pretend to know what goes on in the banking/lending industry but WOW! Without getting all worked up and ruining a perfectly beautiful Saturday I will not go into all the details. However what I will say is I was so happy to hear about the New Short Sale Rules that went into effect on April 5th, 2010.
I am happy to report that Alisha closed on her very first home last week! She got a great house, lots of square footage for a fantastic price and she gets to take advantage of the First Time Home Owner Tax Credit. Welcome home, Alisha, welcome home.
Great information!!! Thanks for your wonderful informative blog.
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