Short Sale & Pre-Foreclosure Specialist • East County San Diego
Steven Rotsart is a trusted short sale and pre-foreclosure specialist helping East County homeowners explore all available options — before the bank makes the decision for them. Confidential, compassionate, and professional.
Foreclosure becomes public — most homeowners have options they don’t know about
Credit damage from a successfully negotiated short sale vs. foreclosure
Steven’s initial consultation — confidential, no cost, no obligation
Your Options Before Foreclosure
Many East County homeowners facing financial hardship believe they have only two choices: catch up on payments or lose the home to foreclosure. In reality, there are several paths available — and the earlier you act, the more options remain open.
Your lender may agree to modify the terms of your loan — reducing the interest rate, extending the term, or adding missed payments to the back of the loan. This allows you to stay in the home with new, manageable payments. Must be requested before foreclosure is filed.
A temporary pause or reduction in mortgage payments while you stabilize your financial situation. Missed payments are typically added to the loan balance or repaid over time. Best for short-term hardship situations.
If you owe more than your home is worth, a short sale allows you to sell the home for less than the outstanding mortgage — with the lender’s approval. Far less damaging to credit than foreclosure, and Steven manages the entire lender negotiation.
You voluntarily transfer the property to the lender in exchange for being released from the mortgage obligation. Less damaging than foreclosure but still has significant credit impact. Available when other options have been exhausted.
If you have equity — or can sell quickly enough — selling the home before foreclosure completes allows you to pay off the mortgage and potentially walk away with proceeds. East County’s current market may support this option even in distressed situations.
Lender contact begins. Loan modification and forbearance options are most accessible at this stage. This is the best time to call Steven.
Notice of Default (NOD) is recorded — foreclosure officially begins. You typically have 3 months before Notice of Trustee’s Sale is recorded.
Notice of Trustee’s Sale recorded. A 21-day minimum period before auction. Short sale must be actively in progress to stop the sale date.
The property is auctioned. Once sold, options to remain or negotiate are extremely limited. Act well before this date.
This timeline is general. California foreclosure law is complex. Steven works alongside licensed attorneys and HUD-approved housing counselors. This is not legal advice.
Short Sales in East County
A short sale occurs when a lender agrees to accept less than the full mortgage balance from the sale proceeds, rather than proceeding with foreclosure. For many East County homeowners who owe more than their home is worth, a short sale is the most effective way to minimize financial damage and move forward.
Steven reviews your situation — mortgage balance, current home value, hardship circumstances — to determine whether a short sale is viable and advisable for your specific East County property.
Steven guides you through the lender’s required documentation: hardship letter, financial statements, tax returns, and bank statements. This package is the foundation of a successful short sale approval.
Your home is listed on the open market at current fair market value. East County buyers interested in short sale properties are often motivated — understanding that lender approval adds time to the transaction.
When an offer is received, Steven submits it to the lender with your full short sale package. He negotiates directly with the loss mitigation department to secure approval — often the most complex part of the process.
Once lender approval is received, the sale closes. In most cases, the lender forgives the remaining balance. Steven coordinates with your tax advisor regarding potential tax implications of the forgiven amount.
Short Sale FAQ
A short sale allows you to sell your home for less than you owe, with the lender’s approval. It is recorded on your credit as ‘settled for less than full balance’ — significantly less damaging than a foreclosure. Most homeowners who complete a short sale can qualify for a new mortgage within 2–3 years vs. 7 years after foreclosure.
Short sales typically take 3–6 months from listing to close, with most of that time spent on lender review and approval. The timeline varies significantly by lender — some approve within 60 days; others take longer. Starting the process early is the most important factor.
Potentially, but there are important exclusions. The Mortgage Forgiveness Debt Relief Act and California law provide significant protections for primary residences. Steven strongly recommends consulting a CPA or tax attorney before completing a short sale — he can provide referrals to East County professionals who specialize in this area.
No. If your home’s current market value exceeds your mortgage balance plus selling costs, a traditional sale is the better path. Steven provides a free, no-obligation home valuation to determine whether a short sale is appropriate or whether equity exists that changes the options.
Important disclaimer: Steven Rotsart is a licensed California REALTOR® — not an attorney, tax advisor, or financial counselor. The information on this page is for general awareness only. Every distressed property situation is unique and requires consultation with qualified legal and financial professionals. Steven works alongside HUD-approved housing counselors and can provide referrals to licensed attorneys who specialize in foreclosure defense and short sales. This is not legal advice.
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No pressure, no obligation. Steven is happy to walk you through your options.
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