Real Situations. Different Solutions.

Distressed Property Success Stories.

Every homeowner's circumstances are different. These anonymized examples show the kinds of foreclosure, short-sale and lien problems Brad Wolfe and Mary Baca have helped Southern Nevada homeowners work through.

Free & Confidential Property Review Call (702) 710-0988

7 DAYS BEFORE A SCHEDULED FORECLOSURE

A Retired Air Force Captain Gets More Time to Find a Solution

The Situation

A retired U.S. Air Force captain and hospice nurse had purchased a new home for approximately $799,000. After losing her job and experiencing medical complications, she was unable to secure steady employment for more than a year and fell substantially behind on the mortgage.

The Challenge

After attempts to work directly with M&T Bank did not produce a resolution, the loan moved into the foreclosure process. She contacted Brad and Mary with only seven days remaining before the scheduled foreclosure sale.

What Brad & Mary Did

Brad and Mary immediately began communicating with the mortgage servicer. The scheduled sale was postponed, creating time to list and market the property and pursue a short sale. The team continued working through the servicer process for approximately two months.

The Result

An acceptable purchase offer was approved and the transaction closed as a short sale before the scheduled foreclosure occurred. The homeowner was able to relocate and move forward with the next chapter of her life.

Why it matters: A scheduled sale date does not automatically mean a homeowner should assume there is nothing left to discuss. Time is critical, and available options depend on the individual loan and circumstances.

AFTER THE FIRST MISSED PAYMENT

A Navy Veteran Acts Early After Medical Hardship

The Situation

A U.S. Navy veteran and commercial real-estate broker purchased a Green Valley home in 2023 for approximately $810,000. Significant medical complications and financial hardship made the mortgage unaffordable, and he contacted Brad and Mary shortly after missing his first payment.

The Challenge

The homeowner had approached PennyMac about a potential deed in lieu of foreclosure, but that option was not accepted at that stage. The property also had deferred maintenance, including pool and exterior stucco issues.

What Brad & Mary Did

Brad and Mary communicated with the servicer while preparing the property for a potential short sale. Instead of requiring the homeowner to invest heavily in repairs, the property was positioned and priced based on its current condition.

The Result

The strategy produced a buyer in approximately one week. Brad and Mary then worked through the short-sale process with PennyMac, the short sale was approved, and the transaction closed. The veteran was able to transition into a rental and move forward without continuing to carry the unaffordable property.

Why it matters: Homeowners do not have to wait for a Notice of Default or foreclosure sale date before learning about their options. Starting earlier can provide more time to evaluate possible paths.

A COMPLEX HOA BALANCE

A Nearly $40,000 HOA Claim Threatened the Sale

The Situation

A veteran homeowner relocated out of state after purchasing a Las Vegas property. Over many years, an HOA landscaping dispute led to fines and related charges that accumulated to a claimed balance of nearly $40,000.

The Challenge

The large HOA balance created another major obstacle in an already difficult short-sale transaction. Liens and other claims against a property can affect whether a sale is able to close.

What Brad & Mary Did

Brad and Mary reviewed the HOA claim, challenged the amount being demanded, and communicated and negotiated with the association while coordinating the other pieces of the short sale.

The Result

The claimed HOA balance was reduced from approximately $40,000 to approximately $10,000. With the HOA issue substantially reduced and the short sale successfully negotiated, the property was able to close.

Why it matters: A distressed sale can involve much more than the first mortgage. HOA balances, second mortgages, judgments and other claims may need to be addressed before a transaction can close.

Past results do not guarantee future outcomes. Foreclosure timelines, postponements, short-sale approvals, lien treatment and settlement decisions depend on the individual facts and are controlled by lenders, servicers, trustees, associations and other parties. Nevada Home Relief provides real-estate services and does not provide legal or tax advice.

Facing Something Similar?

Tell Brad and Mary what's happening. The initial property review is free and confidential, with no obligation to list or sell.

Free & Confidential Property Review Call (702) 710-0988