HomeStrong USA
Short Sale Lease-Back Program

Success Stories

Names have been abbreviated for client privacy.

A.W.'s Story

In a last-minute effort to prevent the eviction of A.W., a stage four cancer patient who also suffers from cerebral palsy, non-profit HomeStrong USA has reached an agreement to keep A.W. in her home while also providing financial assistance and property rehabilitation. The agreement brings a heartening conclusion to a highly-covered local news story. Having resided in the home for forty years, A.W. and her husband refinanced in 2008, only to receive the cancer diagnosis shortly thereafter. Due to skyrocketing medical expenses from chemotherapy treatments, the couple soon fell behind on mortgage payments. With eviction looming, A.W. reached out for help, telling her story to city officials and the media. Watching coverage of A.W.’s story on local NBC 4 News, HomeStrong USA’s Chief Executive Officer Jed Davis knew his organization could help, and immediately took action. “It is hard to see anyone lose a home, but this situation was absolutely heartbreaking. We had to help.” The non-profit organization quickly sought to help obtain a loan modification, yet learned that there was no further retention options available from their lender. HomeStrong USA purchase A.W.’s home and signed a lease with A.W. allowing her to remain in her home while paying an affordable monthly payment. For HomeStrong USA, the resolution is part of a broader mission to help local communities. “HomeStrong USA was created to help homeowners across the nation,” said Davis. “We will rebuild trust, stability, and strength, one family at a time.”

M.G.'s Story

M.G. is single father with two daughters who was about to lose his home to foreclosure due to going from a two wage earning household to a single earning household. His wife moved out abruptly and provides no support to him or their two adolescent daughters. M.G. grew up in this town. He has raised his children in this town. He coaches the local wrestling and basketball teams. He was unable to find an affordable housing opportunity in the same school district until he worked with HomeStrong USA. Although he is very prideful and skeptical, he came around once HomeStrong USA did exactly what they said they would. Without any listings on the MLS or signs posted in the front yard, HomeStrong USA was able to purchase his home and provide M.G. with an opportunity to lease back the home in order to keep his children in the same schools.

J. & A.M.'s Story

J. and A.M. met each other later in life. Both were in their late 30s when they fell in love and married. Children weren't far behind - they had a son and a daughter in the first few years. In 2005, they joyfully closed escrow on their first home, a modest four-bedroom, two-bath in a new housing tract, where properties were still affordable and prices were increasing. They paid $337,500 with financing from CalVet. J.M., a U.S. veteran, had a great job working for the U.S. Postal Service, sorting mail in a local facility. They could easily afford the monthly payment and were fully qualified when they made their purchase. A.M. would stay with the children and take care of the home while J.M. took care of the finances.

But then the troubles began. With the downturn in the economy in 2008, lawmakers began debating the health of the Postal Service. J.M. kept his head down and worked hard. He survived layoff threats and the family cut back on non-essentials. Still, their expenses began to creep up. Along with food and gas prices, their mortgage insurance costs increased. J.M. eventually lost all of his overtime, which previously had been so abundant that everyone in the facility considered it part of their regular income. For them, it was a devastating financial setback. They struggled every month. The house payment became more than half of J.M.’s gross income. To save the home, the family took drastic steps: They taught their children to conserve, kept the heat low, and used fans instead of air conditioning, even when temperatures eclipsed 100 degrees. However, conditions continued to spiral. With no reserves, they found themselves falling farther into debt. Every time the house needed a repair or the children needed clothes, they had to use credit to get past the crisis.

In early 2012, they had reached their limit and missed their mortgage payment. In April 2012, CalVet threatened to evict them and take back the house. But on July 26, 2012, CalVet approved the J.M. for a short sale of their home that would allow them to stay as tenants. The sale closed in August and the family now leases the property for an amount that is again affordable for the family. Their children remain in the same schools and still live down the block from their friends. The parents avoided the public airing of their financial problems. The bank accepted an offer at 98 percent of fair market value, minimizing the loss. They are now working with HomeStrong USA counselors on a regular basis to work through financial management seminars and counseling sessions.

J. D.'s Story

J.D. is a single mother of 3 children who was losing previous home to foreclosure resulting from a reduction/loss of income, and she could no longer afford mortgage. HomeStrong USA worked with her to apply for a modification but the application was denied by the lender. By participating in the HomeStrong USA Short Sale Lease Back program, she was able to keep her kids in the same school and is able to afford a payment within her means. She is very appreciative and is enthusiastic about working with a counselor to become mortgage ready once again in the future.

E. R.'s Story

E.R. is a single mother of 3 (ages 1, 7, 9). She was losing her home due to a major reduction in income. By working with HomeStrong USA, she was able to qualify for the Short Sale Lease Back Program and remain in her home as a tenant while keeping her kids in the same school. She heard about us from a real estate agent and has attended one of the required financial management courses already (Life After Debt).

Thank you notes from clients

Just a note of appreciation for HomeStrong’s assistance during our recent inquiry and qualifying process. The counselors were not only helpful but provided us with the necessary direction in getting through this process. Their knowledge is very much appreciated. I thought I would never be able to stay in my home after I was denied a modification. So thanks again for all your help and willingness to keep a roof over my family."
Dear HomeStrong, I am writing to give my blessing for helping me out with my application and helping my qualify for your lease back program. I am sooooo grateful for all the services that this company gives to all the stressed people in need. My stress is gone now and I don’t have to worry about where my family is going to live anymore. Yes!!! We did it."
Thank you so much for all your help and advice. Since I met you, you have always been extremely helpful and always there whenever I had questions on housing and my options. I greatly appreciate all your help not giving up once I was denied a loan modification from my lender. If it was not for your lease back program, I would have had much difficulty in finding a place to live and struggled to find schools for my children that are as good as the ones they are in. Once again, thank you so much."
We have had a great experience with HomeStrong. You have helped us tremendously. This company stuck with us when other groups turned us away after we were denied by the bank. We are very satisfied and happy with the decision that was made with HomeStrong and the ability for us to stay in our home without a stressful process. We recommend HomeStrong to anyone that needs help with their housing needs; and, we really appreciate the opportunity that was given to us."