Hello Neighbor,

If you find yourself in a position where you owe more than your home is worth and you need to sell, a short sale may be your best option. But don't get taken for a long, stressful ride by a self proclaimed 'expert'...

"What is a short sale?"

Simply put, a short sale is a real estate transaction where the homeowner owes their lender more than what their property is worth and they need to sell. In a short sale, the lender must approve and accept less than what they are owed as full payoff (this means they may settle for $400,000, even if you currently owe them $500,000...even if the loss is hundreds of thousands of dollars).

Are you facing a financial hardship that you know will decrease your income?

Are you getting behind on your mortgage and you're not sure if you can catch up?

Or do you just need to sell quickly but your home is worth less now than when you bought it?

If you are facing any of the situations above, and you think a short sale might be your best option, then read on. If you're still not sure and just want more info, then scroll to the bottom of this page and request a free copy of our article "The 9 Alternatives When Facing Foreclosure"

Don't worry.  It's not your fault...

You gotta remember, we've all had our ups and downs in life and a lot of other good people are also in the same tough spot as you. Life seems scary when you're facing the reality of foreclosure and I know how you feel when you just don't wanna answer the phone any more...  

We all agree that we're in the middle of a national mortgage crisis and that, in many cases, homeowners who have bought or refinanced in the last few years have been seriously abused by unethical lending practices!!

You bought your home and hoped (like we all did) that it would increase in value (and some folks were even promised it would!), but most likely the harsh reality is that now your home is worth less than when you bought it and the value is still declining sharply.

I've helped hundreds of homeowners in this position to get the help they deserve.  I've also, helped train hundreds of real estate professionals both locally and across the nation to do the same for their clients.

It's sad but true!

Did you know that nearly 90% of the homeowners nationwide who try to "short sale" their home will end up losing their home to foreclosure due to an uneducated or lazy agent?

Don't allow this to happen to you!

I hate to say this about my fellow agents, but the majority of them that are "trying to help" have not been properly trained and sadly, they are misinformed as to how to even negotiate with lenders. Some even get so far as to submit your 'short sale packet' and then just sit back and wait for a response! In the end, they simply don't know how to help you and you will become one of those "90%" that were not helped.

"Short sales are not easy!"

...unless you seek the help of an expert agent with a proven track record. I have been personally trained by a former Chief Loss Mitigator who is a career loss mitigator and asset manager with 20 years in the business (he is ultimately the guy at the bank who accepts or declines short sales).

We have successfully negotiated short sales for many families and as you can see from my recent approval letters below (I swap out some of my recent approvals every couple months, so you will notice these will have been from within the last 90 days), we actually get the banks to say YES to our short sales. Before you agree to have an agent help you sell your home, ask him/her to show you just one short sale approval within the last 6 months... I doubt they can.

Now it's up to you...

I am ready, along with my team of experts, to go to battle for you. Are you ready to take a serious look at your options and see how a short sale can help you:

• Avoid paying TAXES on the money the bank loses at foreclosure! (Yes, you may have to pay taxes on the amount of loss to the bank if the home goes to foreclosure!)
• Save your credit from the "Foreclosure" ding
• Avoid Bankruptcy
• Avoid Foreclosure
• Relieve the stress that this financial burden has become
• WITH NO OUT OF POCKET FEES OR ANY UP FRONT COSTS OF ANY KIND!  …or in other words, you pay me nothing and if I do my job and save you from foreclosure, only then will I get paid by the lender!

Not all agents can do a short sale and not all people qualify for our help. I am here for you if your situation meets the following criteria:

• You have a valid hardship
• You have little or no equity in your home
• You are unable (or soon will be unable) to pay your bills on time
• You want to work with an expert

If you're not sure and just want to find out if you qualify, give me a call and I will walk you through your options. Believe it or not, you may just need help getting a temporary reduction in your payments to 'catch up'. In any case, call me to talk about the several options that you may not be aware of.

If you don't know what else to do and you don't call me at 310-261-8511, what will it cost you in damaged credit, frustration and stress? If I am unavailable when you call. 

I know how you feel and I can help.

Sincerely,

                 Eric Baskett

310-261-8511 

P.S. Don't let the lender's abusive scheme take advantage of you and cause you to lose your home to a foreclosure auction! Save your credit and have peace of mind dealing with an expert.

Still Not Sure?

At the very least, let me give you some information about your alternatives. The last thing you want to do is go through the foreclosure process. It's draining emotionally and psychologically. And you certainly don't want to face it alone. I've prepared a document I'd like to send you that details out in simple to understand terms what alternatives you have along with their pros and cons. If you're not ready to call me and let me help you, at least let me send you this information so you can be better informed on your options. I ask for your phone number because I will occasionally call people I've sent the information to for their feedback.

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My personal opinion is that any time you the Homeowner realize either immediately or over an extended amount of time that you honestly can't continue to make the payments but you are stuck because the loans on the house far exceed the property's value, by offering to Short Sale your home shows integrity and responsibility instead of just "giving up" and letting the bank begin the process of a foreclosure.  A lot of my clients feel like they're trying to help the lender out by offering the home for sale, maintaining it in a good showing condition and allowing real estate agents to show their home even though there's no monetary reward in it for them.

Some of the lenders are beginning to come around and they've staffed the departments that deal with Short Sale transactions. My most recent calls to a few of the largest loan companies were actually very pleasant and the lender representative was showing compassion for the client's situation.

Since there are numerous situations that can get you into the position of needing out of your home when the value is lower than the potential sales price, I feel it is very important for the lender representative to not judge the defaulting borrower. A good number of our clients were caught off guard financially when a relative's health deteriorated and all their time, money, and energy went to assist them. Some of our clients have been folks who put 10-20% down payment with the intention of staying in their home for a long time only to find themselves without employment and a rising house payment.  Of course, there are just as many clients who admit they just bought at the wrong time, took a loan that fit their short term needs thinking the home would appreciate and they could refinance in a year only to find the value dropped, the easy qualifying loans disappeared and they're caught with their pants down. In any of these scenarios, the fact remains: In California it takes roughly 9 months for a lender to gain control of a home that is in the default process. By the time they get the home on the market and secure an offer it's closer to a year after the initial default.

In a plunging market this could represent an additional loss of home value of 10-20%! So, can you see why it seems "angelic" for a distressed seller to agree to offer the home for sale during the first few months of default in order to limit the lender's damages? 

Our tax CPA team mate has provided much confidence to the sellers on the issue of owing taxes for the amount the lender loses. As the tax document reads, if the owner is insolvent at the time the home closes and they are issued the 1099, they can fill out the form 982, check the box insolvent and poof, NO TAXES ARE OWED!!! Ever!

Eric

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