SOLD!! 11064 Schoolhouse Road, Fishers

SchoolhouseWendi’d had a run of bad luck and needed to relocate for work.  What could she do with the house in Fishers?  The neighborhood had been hit hard during the
recession, and there was no way to sell it high enough to pay off two mortgages.
One brisk October morning, Jennifer laid out Wendi’s options:  1)
find the cash to pay off the mortgage balance, 2) let it go to foreclosure, or
3) compromise and apply for a short sale with both mortgage lenders.
Jennifer knew it wouldn’t be easy when she chose the latter, but they
dove into it. By January, the ladies were looking at three offers.
The highest was chosen and the ride began. The first lender
approved the offer in short order, but the second was not as cooperative.
Jennifer sparred with that lender while the buyers hung in there for
EIGHT months! The bank’s delay tactics frustrated everyone to the point
that the buyers chose to move on in August. So, Jennifer put it back on the
market – still fighting with the second lender – and found a couple more
offers!  The highest was submitted in September.  BOTH loans now had
to be re-approved because the first approval had expired.  It was
maddening!  At times, there was a desire by all to just give up. but
patience prevailed, the approvals moved more quickly in the second round, and
they closed in late October – 366 days after the process began.  Jennifer
was reminded that persistence pays off, even after patience runs out, and that
there is a solution to hardship.  It’s not always easy, but it’s always
the lesser of three evils.

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About jenniferblandford

A seasoned real estate broker in Zionsville, IN
This entry was posted in Hamilton County and tagged , , , , , . Bookmark the permalink.

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