When Losing a Listing is Good News March 11, 2010

These days listings are hard to come by and when you lose one it’s rarely good news.  I recently lost one that I was happy about.  My client had been through a very tough time and was about to lose their home.  They had filed for a loan modification but like most, never heard back.  We had listed the home hoping to find a buyer that would give them enough that they could walk away from the house with a little to get started elsewhere.  A few months had passed and the foreclosure date was approaching fast. We decided to drop the price drastically and hope to get a short sale passed through before the house was lost.  At the very last-minute they received notice that their loan was being modified and they are now allowed to stay in the home.  So, this is one time that I am very happy to get to cancel a listing.  Anyone reading this that is in a loan modification program… keep up hope (and prayer).  Keep in constant contact with the lender and maybe, just maybe you will get lucky too!