1. Denial and Isolation- At first, you tend to deny the loss has taken place.
2. Anger – You may be angry with yourself for letting the event take place, even if, realistically, nothing could have stopped it.
3. Bargaining – Now you may make bargains with God, asking, “If I do this, will you take away this loss?”
4. Depression – You feel numb, although anger and sadness may remain underneath.
5. Acceptance – This is when the anger, sadness and mourning have tapered off.  You simply accept the reality of you situation or loss.

Although I can’t take all of their pain away, I believe working with an educated, professional Realtor – who is compassionate – can make a huge difference in the outcome. If you or anyone you know is in a distressed property situation and living through these stages, please reach out to me at http://www.davidsonrealtyinc.com/our-team/davidson-realty/dottie-lay/?id=dlay@davidsonrealtyinc.com or a Realtor you trust and get help that can make a difference.

She told me a story about a recent transaction she had done with her teammates, Juana Hausted and Pauline Cake, to show me how it works with the help of a professional. A Navy officer couple came to her when they were transferred from Florida to Virginia. They had bought a house they loved in World Golf Village three years ago, but the housing allowance wasn’t enough to keep it after their move. Mirtha explained they tried to modify their loan first. However, the lender refused to work with them. Since they were upside down on their mortgage by $100,000 and a foreclosure would cause them to lose their military clearance, she suggested a short sale to them. She immediately contacted their lender so they could work together on selling the home. Being a CDPE, Mirtha was educated on the proper procedures to start the process.

After doing her due diligence, Mirtha recommended pricing the home aggressively, which would save time and assist with an acceptable appraisal. They agreed to her strategy and the home was listed one Friday afternoon. After a flurry of showings over the weekend, a full price offer was received on Monday morning. The short sale package was submitted to the lender and a bank negotiator was assigned to the file. Again, this went smoothly because of her experience with short sales. The following week an appraisal was done and shortly thereafter the bank approved the offer via a short sale approval letter, which forgave the difference between the purchase price and the mortgage amount. The home closed two weeks later. Needless to say, the Navy couple was ecstatic – the financial burden was lifted and the future of their careers’ was safe. With so many people facing foreclosure, it is nice to know there are other options available and professionals willing to share their expertise. If you need help with foreclosures in Jacksonville or any other difficult mortgage situation, please  talk to a professional who can help! Call us at 800-940-2898.