Antioch
Owner-occupant, $620K loan, market value $565K.
Outcome: Short sale approved in 41 days, sold at $568K, deficiency forgiven.
41 days approval, deficiency waived
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For owners with negative equity
A short sale is the cleanest exit from an underwater Bay Area mortgage.
When the mortgage balance is higher than the home value, a short sale lets the lender accept less than the full payoff — and, in most California cases, forgives the deficiency. Roger Grubb has closed multiple Bay Area short sales and runs the lender package himself instead of outsourcing it to a settlement company. DRE #01845823. (510) 504-0402.
Who is writing this
Roger writes the hardship letter, assembles the financial package, runs the BPO (broker price opinion) the lender will rely on, and handles every back-and-forth with the loss-mitigation team. He has never had a short-sale package rejected on documentation.
The process
One person. End to end.
- 01
Document the hardship
Lenders approve short sales only when documented hardship is clear. Roger drafts the letter, references your specific situation (income loss, medical, divorce, etc.), and attaches the supporting paperwork.
- 02
Establish the realistic price
The lender orders their own BPO. Roger pre-empts it by running comparable sales and pricing the listing where the BPO is likely to land. Pricing mismatches kill short sales.
- 03
List, attract serious offers
Buyer pool narrows for short sales because the timeline is longer. Roger filters for cash and pre-approved buyers willing to wait 45-90 days.
- 04
Negotiate lender approval
Approval typically takes 30-60 days. Roger pushes weekly and escalates when the file stalls.
- 05
Close + deficiency waiver
Most California primary-residence short sales close with the deficiency forgiven in writing. Roger reviews the approval letter before signing.
Cost
What it costs
In a short sale, the lender pays the commission, not the seller. You pay nothing out of pocket. Roger has never asked a short-sale client for an upfront fee.
When to call somebody else
This is probably not the right move if…
- You have positive equity. Sell traditionally — net more, faster.
- You can refinance into a lower-rate loan and ride it out. Try that first.
- You are willing to walk away and let it foreclose. Short sale is materially better for your credit and tax position.
The record
Recent transactions in this exact situation.
El Cerrito
Investment property purchased at peak, 113% LTV.
Outcome: Approved in 67 days, sold at $720K against $815K loan. Deficiency partially waived.
Investment short sale, partial waiver
Hayward
Owner relocating for job, 105% LTV.
Outcome: Approved in 38 days, sold at $610K against $640K loan. Full deficiency waiver.
38 days approval, full waiver
Frequently asked
Questions before you call.
Is a short sale better than foreclosure?
Almost always. Short sales drop credit ~50-150 points vs. ~200-300 for foreclosure. Short sales clear from credit reports in 2-3 years; foreclosures stay 7 years. Most California short sales include a written deficiency waiver.
How long does a short sale take?
60-120 days end to end. Faster than foreclosure (180-360 days) and you control the timeline.
Will the lender forgive the deficiency?
In most California primary-residence cases, yes — and the deficiency forgiveness has reduced federal tax impact under current California law. Investment properties have different rules. Roger refers every client to a CPA before signing.
Do I have to be behind on payments to qualify?
Not always — lenders increasingly approve preemptive short sales when hardship is documented. Roger has closed short sales for clients still current on payments.
Can I stay in the home during the short sale?
Yes, until close. Most short sales involve occupied properties.
How is this different from a regular sale?
The lender must approve the sale price (because they take a loss). That adds 30-60 days to escrow. Otherwise the process resembles a traditional sale.
What documents do I need?
2 years tax returns, 2 months bank statements, recent pay stubs (or proof of income loss), hardship letter, recent mortgage statements. Roger has a checklist he sends in the first 24 hours.
Call or text 24/7.
(406) 205-9003
Roger answers his own line. After hours your message is texted to him in under 60 seconds.