Brian Bean and Tim Hardin of Dream Big Real Estate Awarded Short Sale Lease-Back Certification

Brian Bean and Tim Hardin, Riverside Short Sale Specialists and owners of Dream Big Real Estate in Riverside, have been awarded the coveted Short Sale Lease-Back Certification.

Riverside, CA (I-Newswire) November 4, 2012 - Brian Bean and Tim Hardin of Dream Big Real Estate in Riverside, California, have been awarded the coveted new Short Sale Lease-Back Certification to help California homeowners avoid foreclosure.

Only a few dozen California real estate agents have gained the prestigious designation by completing the required Short Sale Lease-Back training courses and can now offer the innovative program to distressed homeowners looking for another option to avoid California foreclosure.

Bean and Hardin, Certified Default Advocates, are among the most experienced and skilled Short Sale Negotiators in California.

The pilot program, which has completed one short sale lease-back transaction and has another approved and marching toward completion, is monumental and game-changing, providing a more attractive solution for homeowners who cannot afford their homes but have valid economic hardships and steady incomes to afford a lease payment.

A short sale occurs when a property is sold for less than is owed on it and servicers such as Bank of America, Wells Fargo, Chase and Citi Mortgage agree to discount the mortgage payoff. In recent years, banks and servicers have required that a short sale be an "arm's-length" transaction, meaning the buyer and seller could not be related and could not have a prior agreement for the homeowner to stay in the property.

Last year, changes to the federal Home Affordable Foreclosure Alternatives short sale program opened the door for a short sale without the arm's-length requirement. The U.S. Treasury Department in March 2011 issued a supplement to its HAFA guidelines to allow "servicers the discretion to approve sales to non-profit organizations with the stated purpose that the property will be rented or resold to the borrower, so long as all other HAFA program requirements are met."

The Short Sale Lease-Back Program was inspired by those HAFA changes to allow a qualified homeowner to sell their property, rent it back for three years and then buy it back at a pre-determined price.


Here is an overview of the Short Sale Lease-Back Program

-- You must work with a certified real estate agent trained by the Short Sale Lease-Back Program.

-- A qualified non-profit will purchase the home in a short sale.

-- The seller will then rent the home back for a minimum of three years, allowing their credit to heal so that they can qualify for a mortgage.

-- Homeowners must attend ongoing HUD and financial-literacy counseling and speak with legal and tax experts to ensure the program is the right fit.

-- If approved, the former owner can repurchase the home, perhaps at a giant discount from what they once owed on it.

Not all homeowners qualify for the program. Borrowers must have sufficient income to afford the monthly rent payments in addition to their other debt payments.

For those who do qualify, the impact could be similar to a slow-motion loan modification with a principal reduction to their loan amount.

Homeowners who don't qualify for this program can still proceed with a traditional short sale, which may include a relocation incentive from $2,500 to as high as $45,000, depending on their lender, loan amount and individual situation.

Either option is better than a financially devastating foreclosure, which can crush a consumer's credit report, hinder their ability to find a home to rent and perhaps even impact their jobs.

Banks prefer short sales vs. foreclosure and even loan modifications because they net 12 percent to 25 percent more money from them.


The Short Sale Lease-Back Program is now interviewing California applicants for qualification in this new program. To qualify, homeowners must:

-- Live in the property as their primary residence.

-- Have steady, verifiable income.

-- Have a valid hardship and be able to qualify for a HAFA short sale.

The Dream Big Team is a group of experienced, battle-test and skilled real estate agents specializing in distressed properties under the direction of Brian Bean and Tim Hardin at Dream Big Real Estate in Riverside, California.

Every day, homeowners ask them, "Should I short sale my home or stay and ride it out? Will I have to pay the deficiency? Will I have to pay taxes on the loss? What is a strategic default? Can I short sale and lease back?" To make the best decision, distressed homeowners need information, answers and guidance on these and other critical questions.

For more information, see details at, email or call 951-778-9700 to set up a consultation.

About The Dream Big Team:
The Dream Big Team of Riverside, California, is a group of Real Estate Professionals and Default Advocates committed to helping distressed consumers climb out from under the crippling mortgage balances that have slammed California home values and the world economy. Brian Bean, CEO of The Dream Big Team, is a veteran Riverside, California, Listing Agent who knows how to market homes to obtain the highest possible price in the shortest period of time. Tim Hardin, COO of The Dream Big Team, is an accomplished negotiator with unparalleled skills helping buyers find great homes at low prices. The Dream Big Team can be reached at 951-778-9700 or and has partners throughout the United States.

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About Dream Big Real Estate

"Keep your dreams alive. Understand that to achieve anything requires faith and belief in yourself,, hard work, determination, and dedication. Remember all things are possible for those who believe."
- Gail Devers, Olympic Gold Medalist

Somewhere between childhood and reality, Americans forget how to Dream. Pervasive negativity and an endless stream of "Honey-Do's" beat the Dreams right out of us, don't they?

And then suddenly, looking up from your desk, it's 30 years later and you wonder how it all slipped away. Seemingly, in the blink of the eye.

That's not The American Dream. That's The American Nightmare.

At least, that's how we see things, and we're using our Vision to take us on a Mission to help as many people as possible achieve their Dreams and Goals.

We are a team of Consumer Advocates committed to our clients, with the firm resolve that if we help many people get what they want, our lives will be fantastic.

Ready to sell your home? We'll show you how to maximize your profit and get it done quickly. Looking for your Dream Home? We'll help you achieve that goal and beat the competition, too.

How do we do that? We'll help you clarify your vision and develop a gameplan. Then we'll take all-out uncompromising action to help you achieve your goals. But first, we'll start with a little Dreaming ...

About the Owners:

Brian Bean is a trusted adviser for investors and home sellers, and he has a passion for helping distressed homeowners. Brian moved to Southern California from the Pacific Northwest in 1988 and worked as a newspaper editor for 13 years in Palm Springs. After leaving the corporate world, Brian launched his own real estate brokerage. He and his wife Alisa have been married since 2002 and they love to scuba dive and travel to Hawaii.

Tim Hardin was born and raised in Riverside, CA. He runs Dream Big's REO Property Division and specializes in matching buyers with our high-quality properties. He and his wife Meredith have 5 children. Tim graduated from Poly High in Riverside in 1985, where he was a star football player. Tim runs a non-profit that exposes disadvantaged youths to the beauty of the outdoors.

"In the aftermath of the foreclosure crisis, after meeting so many people who were taken advantage of, we decided to go on a mission to educate and guide home buyers and ensure they have the right tools to make the right decisions," they explained. "We also have assembled a battle-tested mitigation team to stand in the gap for our distressed homeowners. Nine out of 10 of our distressed sellers complete short sales and avoid financially devastating foreclosures."Less..

Contact Information

Dream Big Real Estate
Brian Bean
5898 Magnolia Ave.
Riverside, CA
Phone : 9517789700

Published in:

Business > Real Estate

Published On:

November 4, 2012

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