Another Homeowner Avoids Foreclosure

We just closed another short sale in Oceanside California!

Amazingly, our client asked that we tell her story and share it with other people in her situation.

About 18 months ago our client and her husband experienced a medical hardship, and after exhausting their savings , they found themselves unable to make their mortgage payments. Once they could no longer make the payments they decided to call the lender and ask for help. Time and time again, they felt ignored and unsure of the process. Without anyone to refer them they decided to google it. Our client did some research online and found a company that told them they could help them with a deed in lieu for $2,500.

This was serious money for them but they felt that it was there only choice to settle with the bank. Even though a deed in lieu is a voluntary foreclosure they were told that it was better for them to go this route. Many months passed and eventually they realized that the money was gone. Worse yet, almost 10 months had passed and still nothing had been resolved. She then heard about an attorney who claimed he had the power to help people in foreclosure. So, $4,000 later, all they had learned is that she could do a short sale or wait for the bank to foreclose.

Does this sound like your situation ?

During this time the home across the street was also in foreclosure, and they too had left the house vacant. This home was broken into by teenagers who burned it to the ground. Frustrated and worried, she looked online once more and searched for Carlsbad Short Sale Expert, this is how she found me, how I am not sure but she did.. She liked the information on my site www.shortsalemc.com and decided to let me help her.

When I looked at the file I felt that this file was doomed, the file had the following red flags:

• The second had not been paid and the loan was sold to a credit company.
• The HOA had not been paid and the lender (Bank of America) does not pay these fees.
• 18 months had passed with no payment.
• The home was vacant.
• The seller had no money to contribute towards a short sale settlement.

Every possible bad scenario played out here, so why did I take the file? We had a client that did want to avoid foreclosure and trusted me. The other reason was that we had a plan …after the financial review we designed a planned to get this done that involved another important piece …Buyer COOPERATION.

We set out to find a buyer that would follow the process and help settle the debt. In return we got them an awesome price ($30k under market value).

We were able to:

• Negotiated the second lien payoff so they would not go after our client.
• Paid off the HOA thru strong negotiations with buyers agents.
• Had the clients move back in to take care of the property.
• Got seller $2,500 from the lender to relocate.
• Only worked with the strongest buyers, not just any offer.

I am glad to have been able to help them. I am also glad that she did not give up and tried one last time. She said the last time she prayed that God would help her find someone and said I was the answer to her prayers. Wow, I did’t know what to say to that! That was by far the best compliment I had ever been given!

Are you in a similar situation? Do you need help to avoid foreclosure?

Let me help you…

www.shortsalemc.com

www.mikerebroker.com