Here’s a little update on our housing situation:
After we found out that our seller went bankrupt, I called our realtor to see if there was anything we could do to fight the system. This is his first experience with a short sale turned foreclosure, so he wasn’t sure. He said he would get back to me. A few hours later, he called to say there was some paperwork that would need to be filled out saying the seller was not making a profit from the sale of our house so it didn’t affect his bankruptcy, and that it would take up to 30 days to get the paperwork processed, but that there was a 70% to 80% chance we would still get the house. Hooray!
Then, a few days later, the realtor called again. It turns out that Bankruptcy Guy was the one who would be filling out the paperwork, costing him time and money, and he was sick of it all. He decided he wasn’t going to help us out. Now we had only a 5% to 10% chance of getting the house. Bummer.
Then someone named Mike (Is that you, Mike Crowley?) left a comment on
this post, saying we could probably work out a sales agreement with the seller's lending agency. Ben called our realtor to see if this was a possibility, and the realtor said it was possible but not really legal. This got Ben thinking about other possibilities, though, like suing Bankruptcy Guy to force him to fill out the paperwork or going over Bankruptcy Guy’s head to have someone else process the paperwork.
Turns out that Ben is kind of a genius, and now there’s a 90% chance that we’ll still get the house. We’re not sure what any of these percentages mean, since they fluctuate 80% from one day to the next, so we’re not getting our hopes up just yet. But we’re also not giving up yet. So thanks, Mike, whoever you are!