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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] I'll answer #4 Posted by SeanW on May 29, 2003 at 4:10 AM In Reply to: HELP - Newbie needs some direction posted by J Chan on May 29, 2003 at 0:32 AM : 4. What puzzles me is why would this distress homeowner not sell his home in 1-2wks after on market, clear it his debt, take the money(equity of about 200K easily) and run? Many reasons. People are emotional about "losing their house". They think things will get better, or that they can keep delaying the foreclosure. Sometimes they just don't know how much equity they have. There are also people that did try to sell the house, and their useless REALTOR asked too much... and it took too long to sell it. Sometimes they can't stand the idea of "selling cheap" to an investor, and end up losing everything hoping to find a retail buyer. The house could be part of a divorce dispute, and the couple just are not capable of speaking to each other rationally. Similarly, a house might be willed to someone in an estate, but the devisees can't agree what to do, and don't make any payments. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : 4. What puzzles me is why would this distress homeowner not sell his home in 1-2wks after on market, clear it his debt, take the money(equity of about 200K easily) and run? : Many reasons. : People are emotional about "losing their house". They think things will get better, or that they can keep delaying the foreclosure. Sometimes they just don't know how much equity they have. : There are also people that did try to sell the house, and their useless REALTOR asked too much... and it took too long to sell it. Sometimes they can't stand the idea of "selling cheap" to an investor, and end up losing everything hoping to find a retail buyer. : The house could be part of a divorce dispute, and the couple just are not capable of speaking to each other rationally. Similarly, a house might be willed to someone in an estate, but the devisees can't agree what to do, and don't make any payments. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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