NowUKnow...Life just got Easy
My Short Sale Testimony
September 13, 2012
After 11 months, 3 buyers, $17,000 in HOA arrearages, a property lien and many very intense negotiations by an extraordinary group of people at the BBT Team and the Hamlin Legal Group, my short sale is finally approved.
Like so many other people, my financial challenges began when I lost my 8-year job. Unable to obtain employment for two years, I exhausted my savings, my retirement and became seriously delinquent on my mortgage and condominium payments. While on unemployment, my lender gave me a temporary modification that lasted for over a year. Whenever I would call, they would tell me, it takes time, continue to pay the temporary amount. When my unemployment ended, I missed my first payment and my modification was quickly denied without reconsideration. I was then told by my lender that my only options were deed in lieu of foreclosure or a short sale
In October 2011, I decided to sell my property of 10 years via short sale. I was told to find an agent to list my property. I called a friend’s daughter who referred me to Iris Johnson of Realty Direct. One day after we met, my condo was listed and within 2 weeks, we had a contract. I thought, “This wasn’t so hard.” Meanwhile, the lender sent me papers after papers to sign, all with deadlines. Many times, they were the same papers I had previously sent back, but I filled out the same information and sent it back.
Three months later, my lender sent back a counter offer of $15,000 over the buyer’s offer. Sadly, my first buyer opted out and my condo was placed back on the market. Within the next month, I had a second buyer for the full asking price. Things were looking up until a title search showed my condo association placed a lien on my property. With a $400 HOA monthly fee plus late fees, attorney fees, and never ending interest, I owed a whopping $17,000. In addition, they placed a garnishment on my wages. I had no money to pay them. I pleaded with my association in and out of court. Sonya Hamlin from the Hamlin Group spoke to them, negotiated with them, but still, they would not budge.
My lender continuously sent the same papers and I continuously sent them back. Sarah Darden kept me informed every step of the way. While we worked on getting the lien removed, we tried to contact my 2nd buyer and his agent and found out that he had been hospitalized for a long time and the agent had also been in the hospital. Now, not only could I not sell my property, I no longer had anyone to sell it to. For the third time, my property was placed back on the market, but this time for a cash buyer.
For a month, there was nothing, and out of the blue, I had a third cash buyer ready to buy, but because I still had the lien on my property, I couldn’t sell. I didn’t have a lump sum to pay off my HOA fees and the association still wouldn’t budge. My property was placed on hold.
I didn’t know what to do, but I believed that God never ends things on a negative note and something told me to write the Condo Association Board. I explained to them my situation and proposed a settlement offer with a payment plan. Of course, they denied everything I proposed, but communications resumed and Sonya Hamlin used her extraordinary negotiation skills on my lender and the association. My lender and the association started to give in a little.
On September 1, 2012, I received the best news that the Association agreed to a payment plan, to release my garnishment, and to release the lien on my property. One week later, my lender approved my short sale and forgave my $100,000 mortgage deficit.
I am so grateful that God blessed me with such professional, knowledgeable, patient and hardworking people at the BBT Team and the Hamlin Legal Group. If my short sale was approved, yours can be too as long as you keep the faith, meet every deadline, get the experts, (BBT Team and the Hamlin Legal Group) and never give up.