Soylent Green Is People_IHB
New member
Got an amazing call yesterday. Need a venting moment...
"Legitimate buyer" referred from a Realtor rings me up. Person was upset, wondering why they were having trouble getting a loan. They had several past homes they paid off on time, but the last one was a short sale in August. The bank ate about 100k when they exited the property. "It was a bad investment, but that shouldn't reflect on my ability to make a new house payment".... There was such a disconnect between reality and responsibility it was jarring to say the least.
It got a bit weirder from there. The down payment funds were in gold. Yes, gold coins, scrap, and a few bars. This person asked if there was some way to use this asset for cash down without putting it in the bank "so I don't have to pay taxes on it". The conversation devolved from there about how her Attorney was going to try and remove the short sale from her credit report. I suggested that I was unable to help and that they continue with their attorney with any future questions.
One would think that if you capsized on your home in August, the last thing your going to do is try for a new home purchase with untraceable down payment resources. There was no shame or remorse that I would have expected from anyone in a similar situation. Why this Realtor was even working with them is a separate discussion as well. The Agent was a Jr assistant to a more experienced Realtor I've worked with for years so I'll chalk it up to naivete
Is zero remorse for short sellers / intentional walk away's the new norm or is this experience an aberration?
Soylent Green Is People
"Legitimate buyer" referred from a Realtor rings me up. Person was upset, wondering why they were having trouble getting a loan. They had several past homes they paid off on time, but the last one was a short sale in August. The bank ate about 100k when they exited the property. "It was a bad investment, but that shouldn't reflect on my ability to make a new house payment".... There was such a disconnect between reality and responsibility it was jarring to say the least.
It got a bit weirder from there. The down payment funds were in gold. Yes, gold coins, scrap, and a few bars. This person asked if there was some way to use this asset for cash down without putting it in the bank "so I don't have to pay taxes on it". The conversation devolved from there about how her Attorney was going to try and remove the short sale from her credit report. I suggested that I was unable to help and that they continue with their attorney with any future questions.
One would think that if you capsized on your home in August, the last thing your going to do is try for a new home purchase with untraceable down payment resources. There was no shame or remorse that I would have expected from anyone in a similar situation. Why this Realtor was even working with them is a separate discussion as well. The Agent was a Jr assistant to a more experienced Realtor I've worked with for years so I'll chalk it up to naivete
Is zero remorse for short sellers / intentional walk away's the new norm or is this experience an aberration?
Soylent Green Is People