Investor - A now much wiser San Diego Investor

"I had an investment property I was upside down on and was headed to foreclosure. I was desperate to find a solution because I knew the bank would pursue a deficiency judgment against me on the second loan since I had refinanced the property. The SDHS Team found a buyer for the property, negotiated with the bank, handled everything, so there was no $ out of my pocket and I received a letter giving a satisfaction of debt and no deficiency judgment. I will have to deal with the tax consequences but that would have happened during a foreclosure too. I am now repairing my credit and getting ready for the next wave of investment opportunities about to hit. This time I’ll buy low and sell high… not the other way around! Thanks SDHS!"


Homeowner - SDHS are pioneers, innovators and made the complex process seem easy

"Back in 2007, when short sales were unfamiliar to most, the SDHS team handled the sale for me and my wife.  I was a former real estate agent, and I can tell you how important and complicated it is to coordinate the ‘selling process’ (finding the qualified buyer – and keeping them through the process) the ‘negotiation process’ (negotiating with lender(s) for lien release price, terms, what they will pay for, etc) and the ‘closing process’ (property disclosures, escrow coordination, approval letters, meet timelines). In our case, the ‘property disclosures’ were especially important because part of the home had been built within the setback zone for the adjoining property. But our coordinating agent made a detailed effort so that the buyer was aware of the condition and signed the appropriate disclosure forms indicating they were aware and accepted the property ‘as is’.

We short sold our home for $ 499,000 in July of 2007 and moved to Texas to be closer to our children. Since then, we both lost about 30 pounds, and are much healthier and happier without the burden of the unmanageable mortgage. We understand as of early 2009 that home is now worth about $320,000. We have just about all cleaned up our credit, and we look forward to purchasing again in California as an investment for ourselves, our children and grandchildren when the team at SDHS says it is time."


Loan Modification to a Short Sale

"Around the middle of 2008 we saw the value of our home drop from above 1 million dollars in 2006 to less than 900,000. We started the loan modification process but did not see the sense of it since mostly lender was offering interest rate reductions or if they did reduce principle then they wanted to ‘equity share’ later when the value of the home went up. Even if they did reduce the loan balance it did not compensate for farther market decline and we could rent a nicer home for less than what our monthly mortgage payment would be."


Divorce, short sale and no deficiency judgment

"My wife and I divorced last year and there was no way for either of us individually to cover the payments on our home, and we did not qualify for a re-finance. San Diego Housing Solutions was able to attract a buyer and close the deal, even though our lender IndyMac went out of business during the sale and transitioned to being a government-run bank. This sale removed a tremendous burden from our already stressful life, and allowed us both to better provide for our children without a deficiency judgment looming over our financial future."

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