1The Challenge
Michael lost his job during an industry downturn and fell 4 months behind on his mortgage. The bank had scheduled a foreclosure auction in just 3 weeks. His credit was already damaged, and a foreclosure would make recovery nearly impossible.
2Our Solution
We worked directly with Michael's lender to negotiate a short sale, made a cash offer that covered his outstanding balance, and coordinated an accelerated closing to beat the auction deadline.
3The Outcome
Michael closed 10 days before his scheduled auction, avoided foreclosure on his credit report, and walked away with enough money to relocate and start fresh.
Timeline
The Full Story
Michael had owned his Worcester home for 12 years and never missed a payment. Then his company downsized, and at 54, he found himself unemployed in a competitive job market.
"I burned through my savings in three months," Michael explains. "By month four, I couldn't make the mortgage. By month five, I got the foreclosure notice. The auction was scheduled for 3 weeks out."
Michael tried everything - loan modification requests that went nowhere, traditional buyers who couldn't close fast enough, and refinancing that required income he didn't have.
"I found Prime Property Venture at 11 PM on a Tuesday, desperately searching for 'sell house fast to avoid foreclosure.' I expected to leave a voicemail. Instead, someone actually answered."
Our team immediately went to work. We made Michael a cash offer that same night, contingent on verifying the property condition. The next morning, we visited the home and confirmed our offer.
More critically, we contacted Michael's lender directly. Our experience with short sales and pre-foreclosure transactions allowed us to navigate the bank's requirements quickly. We got payoff figures, filed the necessary paperwork, and coordinated with the title company simultaneously.
"They were on the phone with my bank, the title company, and me all at the same time. It felt like they cared as much about saving my credit as I did."
The closing happened 10 days after Michael's first call - 11 days before his scheduled auction. The foreclosure was cancelled, his credit showed a sale instead of a foreclosure, and he received enough proceeds to cover his moving costs and security deposit on a new apartment.
"I'm rebuilding now. I have a new job, a fresh start, and no foreclosure following me around. Without Prime Property Venture, I'd be telling a very different story."
“I thought I was going to lose everything and have my credit destroyed for years. Prime Property Venture not only bought my house fast enough to stop the foreclosure, they actually helped me negotiate with my bank. I walked away with money in my pocket instead of a foreclosure on my record.”