A Short Story About a Short Sale That Ended Up an Extraordinary Success!

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“It’s worth what I do for a living.”

Realtor Eric Elegado comes across a lot of clientele and usually something or the other he does through his work, changes their lives. Whether helping a new couple find their first starter home, assisting with selling a house that is in a neighborhood with dropping values – or getting the word out on new and exciting properties, Eric is there. But in his own words, one of the most rewarding aspects of his job comes through cases like this success story of a young family struggling to do things right, the American way.

Sinking Deeper and Deeper Into Debt – And Depression

During the crux of the national real estate and mortgage meltdown, at a time when many self-respecting families were struggling to stay afloat, keep their payments current and not lose their homes – there was a lot of struggle. Realtors were often at the center of this strife trying to help these families through it. It was then, a few years ago that after hearing references from others a couple, in a very depressed state of mind and at a point of almost losing hope, approached Eric.

They were making payments in their home by borrowing money from their credit cards, a virtual quicksand situation that would devour anyone almost instantly. Things were so bad for them that they were not even able to afford a simple birthday party for their only child at the time.

Making A Plan – and Sailing Toward Success

Eric took them under his wing. The very first thing was to make a plan to get on the Road to Recovery. With his guidance, they were advised to immediately “stop the bleeding” with the goal of stopping payments, pay off the bills and put money away. During a process that took nine months, there were some ups and downs, but through sheer determination and with the constant support of their Realtor, this couple was able to implement the plan.

While on that road to recovery, they faced a couple of trustee sales that were successfully postponed, even though the couple was very worried at the time and even to the point of crying with despair of their situation. “Through the whole process, we were comforting them while supporting them through this ordeal,” Eric says.

The level of high-energy emotion and fear that goes through people’s minds and hearts was something that Eric and his team learned was a huge part of the whole process. The clients, especially this young couple, were very grateful for the support given to them by Eric and the team.

Turning A New Leaf

When the house sold and the family was given 30 days to move out, once again Eric assisted with the moving process. Finding them a place to rent that was more than half what they were paying on their mortgage, liberated them and freed up a large chunk of their finances to concentrate on the big stuff.

Going from struggling with payments $4500-4600 each month, to nine months of “catch-up” while their payments were not required during the process – to ending up with $1900 rent bill, really changed their lives. With paid off credit cards, money in the bank and a college fund established for (now both) their children – the couple was doing GREAT!

After following their original plan of paying off all bills, saving money, fixing their credit outlook and saving specifically for a down payment on a new home, three years later the family was back in Eric’s office with an approved 30-year fixed loan. With no bills, money in their savings, financial security needed for their kids’ education and lower payments, they got into an even bigger and better house.

Like Family, Through Thick and Thin

Eternally thankful for the support given them by their Realtor, the couple regularly remained in touch through the several years of recovery period. Birthdays and Christmases always included a phone call to thank Eric for his support.

On the day when their loan was approved for their new home, the daughter who hadn’t been able to have a birthday party walked up and said “Uncle Eric, thank you for making my Mom and Dad happy!” while the (non-hugging type) husband expressed his appreciation through a hug.

More Than Just a Job, We Made a Difference!

It is stories like these, Eric says, that make his job that much more amazing. To be able to help his clients out of these situations and watch them succeed is what makes it worth doing what he does for a living. “And that’s why I’m so passionate about what I do.”