The life and times of an Arizona Investor

This will be my personal journal to document my failures and successes during my real estate experiences in Arizona. All stories, thoughts, and successes will be documented..

Thursday, July 07, 2005

Unbelievable!

A got a second call back from a guy in foreclosure. The first time was almost two months ago and he wanted to stay in the house. I said, ok, and talked about some solutions. He was interested at first and than he suddenly didn't return my phone calls. I was in the neighborhood and and knocked on his door one day. He told me that he was working with the banks and he was not interested in working with me. I said ok, and left him alone.

Well, he called back last night and wanted to sell his house to me. The trustee sale is August 1st!! So I need to handle this property in 3 weeks..

We discussed the numbers again (didn't look pretty) and told him that I need to see the house. We made an appointment for 7:30 this morning. He was very excited about the meeting because he did not want to ruin his credit.

So, did he answer the door? Nope.. I knocked at 7:30 and no one answered. I left a message on his cell phone. This amazes me because if I was this guy, I would have had the coffee ready and hoping that he would show up. This guy probably heard the door knock but was too lazy to get out of bed to answer.

I just don't get it!
|| Bginvestor, 8:21 AM

3 Comments:

He's afraid. He'll probably call again. Losing your house is a petrifying process. The man is probably wondering how he's going to house his family, what's going to happen to his kid's schools, where he's going to get the money to pay all his bills, his nagging and petrified wife. He's just afraid.
Blogger Nikki, at 8:47 AM  
Nikki,

You may be right, however, wouldn't you want to fully understand your options for all scenarios?

If he calls me two days before the trustee sale, I won't be able to stop foreclosure.
Blogger Bginvestor, at 1:15 PM  
I've been in that position. I did not want to know the options. I went on a prayer vigil until the problem was solved. We still have the house and the mortgage is now current.

He's not thinking that if he waits too long you wouldn't be able to do anything. He's thinking what can I do to keep THIS roof over my head.

At the very least he wants to know how he's going to keep ANY roof over his head.

Another thought that could be going through his head is "Let them throw me out." Do you really think that people in these positions are thinking about credit and equity?

Now that's a problem worth solving.
Blogger Nikki, at 11:59 AM  

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