We have also seen cases where the seller did try to sell it short but the bank refused the offer. Right now there are these condos on Dabney in Mira Mesa. I have investors with offers on two of them in the low 200’s but the lenders get BPOs (Broker Property Opinions) while they are evaluating the short sale offers and in this case the BPO’s are coming back higher then the offer so the lenders are digging in.
I am not saying this happened with the home you brought up as I have been to lazy to look up the sales history. Also there is the element of people just not dealing with their own problems. It is easier to just deny the whole situation and let things just flutter away rather then coping with reality. People literally don’t even open the mail for 7 or 8 months and one day they simply don’t own the home anymore and a 30 day notice is tacked on the front door.
