Mom Caring For Adult Daughter Full Time
Short Sale Closed
A woman living in the St. Charles MO area, loved her condo and worked in the area. Her daughter was military, married to an Active military man. The daughter and husband lived in North Carolina. The daughter was stricken during her military career with a debilitating disease and could not follow her husband when he was deployed permanently (for at least 2 yrs) to California. The mother was the only option who was available to care around the clock for her daughter. Mom needed to sell the condo to live with the daughter who was unable to travel. This woman still owed about $90,000, but the value of her home had declined to around $55-$60,000. We had an extraordinarily hard time with this lien-holder. We had a fair offer and a good buyer. After several months, we finally got the lienholder and Fannie Mae to accept an offer and close. Although the daughter cannot move permanently, she is able to visit her husband every few weeks for short times. At this moment, except for the VA loans, there are no special considerations for the military to assist in the Short Sale process.
We also handle many divorce cases, where the home must be sold in settlement, or where neither party can afford the home on their own.
WARNING: If you are planning a Short Sale, DO NOT file for bankruptcy, begin divorce proceedings or rent the property while we initiate the Short Sale process. Any of these situations can prevent a Short Sale, or at the very least we are forced to close the Short Sale process, wait until the other process is completed and then again begin the Short Sale. This does cause severe delays, and, can actually make it impossible to Process a Short Sale at all.
DO NOT listen to anyone except an expert. When you ask for advice, EVERYONE has an opinion of what you should do, but the only way to determine a best approach for your situation is to contact us and let us give you suggestions. We have seen people ask their friends, relatives, business associates for recommendations and, in 100% of the time, the advice is incorrect – unless the advice is to contact an expert.