We just came across a clear case of Short Sale Fraud where a Listing Agent got a homeowner to list their Home headed to a Trustee Sale in 10 days as a selling Short; knowing full well that there is equity!? Here’s the full story:
We recently got a call from a Homeowner whose house was scheduled to go to Trustee Sale Auction. She was responding to our marketing campaign to help them list their home for Sale.
While waiting to get a call to confirm an appointment, we got a call from ANOTHER listing agent claiming that the owners have already signed with them to list the house for $460,000 list price with a Published Bid of $595,000!
But the next day, the owner’s wife called and insisted that we meet with her husband since he was rushed to sign this listing agreement.
Well, good thing we did! And the good news is that their house is SAFE from foreclosure.
During our investigation we discovered that there was indeed Equity and a lot of it in the property. We advised the homeowner to pay off the defaulted amount to prevent the foreclosure.
Shouldn’t this guy be in Jail!? The trauma alone he had created for this homeowner who had owned this house for 25 years was just palpable.
But before you decide your sell your home find out your home value. In most cases your home is worth more than what you.