South Bay Homes and Real Estate

Read on to learn how any homeowner can negotiate 30% off the principle of their home mortgage.

Hot off the fax is something remarkable and more than a little weird. It’s a letter from Litton Mortgage to one of my clients trying to Short Sell her home to avoid foreclosure on her condo / townhouse in San Pedro, CA.

In case you don’t believe your eyes….yes this a genuine letter. Litton apparently ‘decided’ to write to the San Pedro homeowner in foreclosure – and offer to slash $110,000 off the mortgage principle. Not bad, huh? This after zero negotiation or contact between the homeowner and the bank.

Question:

How were we able to negotiate this amazing reduction?

Answer:

Simple, the homeowner stopped paying her mortgage. There you go, the secret is out!

Meanwhile, my Short Sale Dream Team dukes it out everyday with Litton, Countrywide, Saxon and every other lender under the sun. These negotiations go on for months and many go nowhere. These negotiations are savage, tedious, cold-hearted and brutal.

A real life example:

Saxon mortgage recently held a foreclosure auction of my Redondo Beach condo listing 645 Paseo De La Playa, 301, Redondo Beach, CA (That’s the Cote De Zure complex). The home was sold at auction for about $475,000. The auction was scheduled even though I’d been negotiating with the bank for over 8-months. I even had submitted an offer recently for over $550,000. The buyer loved the home and wanted it badly.. Funny, right? NO, THAT’S NOT FUNNY AT ALL! That’s heartbreaking…and idiotic.

Now back to Litton’s unusual letter:

I’m not one to look a gift horse in the mouth, so let’s give Litton Mortgage its due. This is an awesome offer. But let’s also talk some trash. Litton Mortgage is one of the very worst banks out there. Over and again Litton (and the other big lenders) turn down legitimate offers from our buyers….these banks go on to sell the home for hundreds of thousands of dollars less at auction or as REO (Real Estate Owned). The current system of dealing with over-mortgaged & foreclosed homes is incredibly broken.

Do you have a home that is over-mortgaged?

Are you barely hanging on financially, making huge monthly payments on a home worth less than when you bought it?

If you answered, ‘Yes,’ it’s time for us to have a confidential conversation. I may be able to help you get out rid of your home and get the bank to forgive your debt. There are no out of pocket fees for my services. The bank actually pays me.

Call me now at 310-809-0203 or click on the Contact Me button for more information.

Best regards,

Rocky Rockwood