In the later part of 2009 an old high school friend reach out to me through Facebook! I was so surprise to get a message since it had been so long since I heard or talked to Derek Ellersick! As we grow older and our lives get busy, it was great timing that Facebook allowed me to re-connect with old friends!
Derek had wanted to find out what would be the path he needed to take to own a home again. Derek had made a decision in 2008 to short sale his home and though how painful it was to do that he was determined to get back on the road to homeownership. I had told him that I would be glad to help and if he stuck with me, I would certainly get him on the right path.
I then connected him with my lender at Mae Capital Mortgage to review his credit and between the loan officer and myself we continued to guide him to ensure he was on the right path!
Because of the constant changing guidelines in mortgage lending, Derek had to wait 3 years from the Short Sale close in order to qualify for a new mortgage loan. During that time he had to ensure that his credit was re-established and that he maintained good discipline in using his credit. He also focused on saving for his down payment of 3.5% since he would be able to utilize an FHA mortgage loan.
In March of 2011 his lender reviewed his credit and within a few short months from there we began the home search! Derek wanted to focus on his home search to be in Elk Grove considering he already lived in the area so it was a quick start from there!
When all other agents were complaining that it was taking forever for their client's to find a home and get their offers accepted, I was able to find him the right home, right away! After only putting in the 2nd offer on a home in Mid-June 2011 on a beautiful short sale, Derek’s offer was ACCEPTED! He could not believe he quickly was in contract on a perfect property! This home fit his criteria, location, size and best of all BUDGET!
Derek patiently waited till December of 2011 when we finally got a call from the listing agent that the short sale was approved and within 30 days Derek Ellersick has finally closed escrow and is a PROUD HOMEOWNER again!
To add into the crazy mix of the roller coaster ride of buying a home, the property was then a target of a craigslist scam and renters moved in! We quickly had to work with the listing agent to evict them that same day before we closed escrow later that week. With Derek's soft heart he even helped the squatters move their belongings out being that it was a young couple and the young woman was pregnant. Derek was upset, shocked and felt badly but this was his home he worked so hard for. You can imagine how everyone was feeling during this escrow!!!!
To add into the crazy mix of the roller coaster ride of buying a home, the property was then a target of a craigslist scam and renters moved in! We quickly had to work with the listing agent to evict them that same day before we closed escrow later that week. With Derek's soft heart he even helped the squatters move their belongings out being that it was a young couple and the young woman was pregnant. Derek was upset, shocked and felt badly but this was his home he worked so hard for. You can imagine how everyone was feeling during this escrow!!!!
When you are focused, determined and work hard you can achieve your goals of homeownership just like Derek did. Also with the guidance of a professional real estate agent and great lenders to help tag team the efforts along the way, IT CAN BE DONE!
I’m so proud of Derek and his accomplishment and thankful he listened to my advice. I told him I would stick with him as long as this was his dream goal he wanted to make happen, I would support him all the way!
Congratulations Derek Ellersick! You set the example for those who didn’t think there is hope to own a home again, you have now proven that though you have fallen at one point, you can get back on the right track and focus to achieve your goals of homeownership!
Joy Yip
email: joyhyip@gmail.com
http://www.findelkgrovecahomesforsale.com
916-932-8358
Keller Williams Realty Elk Grove
9250 Laguna Springs Dr Suite 100
Elk Grove, CA 95758
