Ginny's RI House Hunt Blog

Are Mortgages like Marriage Vows?

Marriage Vows

 

Just like marriage vows, mortgage holders need help along the way with arbitration, negotiation, remediation, modification and sometimes divorce or closure...sometimes the mortgage holder will also 'stick it out' to the final end to no avail. Tell me are mortgages like marriage vows?

So frustrating to me to try to help someone along in this process
and not have the homeowners heed any advice as the bank gives them the 30 day notice to vacate the property.  I can look back over time when I offered a home for sale at a fair price and 3 weeks later someone talks to the homeowner and said it was way under priced.  I get a call to raise the price by $60,000 from the seller - argument ensued & the price went up.  It sat for 6 months with no showings.  Hmm, the homeowner could not admit he was wrong.  One offer prior to this price increase which would have been an acceptable offer but the owners refuse it.

Now we are down this twisted and dangerous marriage/mortgage road of difficult times and unresolved monetary issues...i stay the course because I knew I could get the homeowners out if they would just allow me to.  Also, I had a personal connection with one of the homeowners and felt an obligation.  However, just like a divorce when one party does not want it and hangs on...this is the path they chose to take. 

No counseling whether legal or financial to understand the economic strains this brought upon their lives were they open to.  So the local bank tells them if they get a co-signer on the mortgage or get 'room mates' and can make up the past payments and stay current the homeowners will not be foreclosed on.  Isn't this just a bad mortgage vow heading down to divorce?  The bank sees it coming but is enabling and prolonging the inevitable.  So just like marriage vows some mortgages just don't make the long term payoff...tell me are mortgages like marriage vows?

If you live in Rhode Island and have questions about the short sale process, please give me a call.

 

This blog © and its contents is original to Ginny Lacey Gorman

the RI waterfront Realtor of Choice

 

Ginny L. Gorman, a purveyor of Fine RI Waterfront Real Estate   

Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich RI and beyond ...  I sell dreams!  Because there is no place like home...the RI Real Estate Agent in the Sparkly Red Shoes.

 

Looking for a knowledgeable Rhode Island Real Estate Agent?  Let me GOOGLE one for you!

            

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cell: 401.529.7849      Ginny Lacey Gorman, Realtor

www.RIHouseHunt.com

 

                                      

Comment balloon 8 commentsGinny Gorman • August 12 2010 07:59AM
Are Mortgages like Marriage Vows?
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Just like marriage vows, mortgage holders need help along the way with arbitration, negotiation, remediation, modification and sometimes divorce or closure… sometimes the mortgage holder will also 'stick it out' to the final end to… more
A 'Googley Eye' old time Realtor - RI style
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Sometimes life throws you curves and sometimes it just is grand because of the people you meet in this business… and i met the googley eye old time realtor yesterday with that RI style He called me from a mailing I did and asked me to come out… more
Open House 1710 Stony Lane North Kingstown RI 02852 Sun. 8/1 1-3 p. m…
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O pen House on Sunday 8/1 from 1-3 p. m for this Contemporary/Colonial with a new price of $399, 999 at 1710 Stony Lane North Kingstown RI 02852- home for sale It is a well maintained home on nearly 2 private acres next to the cul de sac… more
Your Buyer wants my Seller to do What?
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It is a time in real estate when buyers are asking ridiculous things of sellers - You, as their buyer's agent, want me, the sellers agent, to do WHAT? Oh, I understand the request (or might it call it a demand) correctly alright. This is all… more
Open House-27 Birchwood Drive North Kingstown RI 02852 Home for Sale..
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Ope n House 27 Birchwood Drive North Kingstown RI 02852 Homes for Sale Sunday, July 25 from 1-3 pm Over 1900 sq. ft. of living space, with integral garage on 1/2 acre of manicured land In the family neighborhood or Austin Manor of North… more
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Another Warwick RI 02889 home sold by Ginny L. Gorman at 474 West Shore Road Warwick RI 02889 and this one sold in 12 days! Not just in 12 days but in a multi-bid situation and for 5% over listing price for the seller. This was a first time home… more
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So how are you doing with your seller's home appraisal? It is a known fact to knowledgeable Realtors® that the appraiser can make the ultimate difference in whether or not a sale happens. At this point in the process a seller's agent needs to be… more
1710 Stony Lane North Kingstown RI 02852 Home for Sale - Open House…
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1 710 Stony Lane North Kingstown RI 02852 Home for Sale - Open House Saturday July 10 from noon-2 pm Newly listed and meticulously maintained & updated contemporary home on nearly 2 private acres next to the cul de sac Abraham's Way and… more
Another Pending Sale by Ginny L. Gorman at 474 West Shore Rd Warwick…
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Another Pending Sale by Ginny L. Gorman at 474 West Shore Rd Warwick RI 02889 This home is a wonderful fully renovated ranch with granite kitchen with champagne stained oak cabinets. All new Andersen windows & slider to deck throughout the… more
1710 Stony Lane North Kingstown RI 02852- Home for Sale
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View Larger Map 1710 Stony Lane North Kingstown RI 02752 newly listed and is a great home for sale on almost 2 acres of private land and priced at $435, 000. Set back from the road this contemporary home just had a new roof and stain. … more