Has anyone done a deal with "Economic Stabilization Project"? They (Jay Grant) have joined Short Sale Superstars and are proposing that they will purchase a short sale with a 3 year option for buyback.  It sounds good but there are over $3000 in advance fees.  Knowing that one of us had successfully done a deal would increase comfort.

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Hi Barry. I have not heard of them before but have heard of similar programs. Have not really formed an opinion yet on the legalities of what they are offering.

On the surface it sounds like a good way to keep folks in their homes. If it's all disclosed to and allowed by the lender I have no problem with it.

I would be concerned about any up front fees required from the seller. This is always a red flag to me. The bottom line is that ESP is making money off the seller by purchasing the home at a much lower price than market value and reselling it to them later at a higher price. I also am guessing that of the homeowner is not able to purchase the home back in 3 years that they will be booted and the property sold to another end user or maybe sold to another investor who may let the seller stay as a tenant.

I would certainly need to make sure my seller had their own legal counsel review all documentation before signing it.

I have lots of questions and concerns but that doesn't mean their program is not legit.

Maybe I should give Jay a call and pick his brain and see if what he is offering can be a benefit to our members or not..

Thank you for this helpful response.  Can you direct me to the similar programs which do not require large up front fees?

I had these people approach me to list a home for a lady in Tucson.  They charged her somewhere in the range of $3,000 to $4,000 to participate in their program.  While they told her (and me) that she was going to be able to rent her home back from them and then buy it back, the contract that she signed contained NO verbiage to that effect.  In fact, they had her sign a contract for them to create a Revocable Trust for her.

I called them with questions several times and could never get any answers from them.  When I looked them up online, here is what they have on the Internet.  Note that the seller has to find the investor and they also have to buy a home based on an appraised value that is 3 years old.

From http://www.manta.com/cp/mwz22qv/4ef31db52689a7913a1b86c4/short-sale...

"How The Process Works:
Step 1:
Get an appraisal of the home to determine the Fair Market Value.

Step 2:
Find an investor who thinks:

a) You will be able to make the monthly lease payments on the home.

b) You will be able to buy the home back from them in 3 years or less.

c) The current Lender on the home will sell the house at a large discount.

Step 3:
Enroll in the HAFA Program to initiate the short sale process with your Real Estate Agent. This is an important step because it allows our NonProfit to facilitate the transaction without the usual “Arms Length” requirements.

Step 4:
Contact your Real Estate Agent to begin the appropriate short sale paperwork and accept the offer from ESP to purchase your home. *This will then require lender approval.

Step 5:
Once the lender approves the transaction and escrow closes, sign the 3 Year Lease Option Purchase agreement with ESP and begin leasing the home from ESP.

Step 6:
Whether an income, credit or medical hardship, fix your financial issues over the course of the next 3 years and obtain financing to purchase the home from ESP at the same price as the appraisal in Step 1."

Needless to say, I advised my client to speak to an attorney and she was advised not to proceed with them.  The attorney sent her to the Pima County Bar Association for assistance since she doesn't have money for a lawsuit.  She told me that the client will need a lot of help fighting these people.

Thank you Robin

If I could just move the house to California!

I do not know how to respond to such allegations without violating any slandering laws or quite simply lose my integrity as a professional everyone who has reached out or currently working with me through SSS can agree that I am a consumate professional and very easy to contact and speak with. It is not my intention to provide publicly misinterpretations or cause harm to any person, company, corporation, group, organization, LLC, website or forum.  My intent is to reach out and offer solutions or an alternative and to convey realtors / brokers an opportunity. (we never guarantee we will save a clients home.  we never advise client to not pay their mortgage. The prospective client has the prerogative to simply to not partake into our program if its not in their best interest to have a revocable living trust document for their estate plans and or repair their credit, so I will overlook them as if they weren't made.

Our program is specifically designed and created strictly for the homeowner from start to finish. ( all stipulated in our articles of incorporation) . we do not deviate from this. within 10 business days of approval HAFA SS a separate lease contract is sent to the client which they have the option to walk away however there are no 1st months and last months conventional type rental with security deposit which will cost the homeowner more financial hardship whether prior to or after approval they simply would stay in their home and start leasing and making lease payment 30days after close of SS (all maintenance and repairs are covered from the investors etc all of which is in the lease.

 Lease is calculated appraised at todays appraised value @ 6.99% for 30 yrs throughout 36 mos term no mark ups every year or pre termination penalties if they can buy their home back sooner. In reality if our program was built like that then this would create leverage over the seller or tenant or lessee which at that point they will have no choice to pay 3x their current mortgage payment to keep their home...

  honestly broken down and analyzed  1. organization  (drafting of revocable trust) 2. transition (lease)  3. protection.( Buy Back home at todays appraised value + enters all assets in trust )

scenario: home appraised @ 100k. today the homeowner by or before 3 years they would buy their home back. what if equity goes up than its theirs. If it drops 90k then we simply would sell it @ 90k do not expect bank to loan for more than what home is valued at or expect for them to come out of pocket to pay for the difference...additionally home owner will be saving for a 3% they have to come up with for FHA loan to buy their home back that is not economically sound for the client and does nothing to helping out with their economic situation.. that is a no go for our program...

Once determining eligibility + education of a prospective client and they decide to enroll into our "new loan same home buyback program -it is a board of investors requirements to have the homeowner to draft a revocable living trust...first and foremost. this establishes organization from the beginning whereas the client goes over the document and establishes beneficiaries of the trust. Gives the investors from an investors stand point that the homeowner is vested in their home prior to SS approval. simply it is a matter of a liability and huge economic risk once the seller is off the hook of a loan to simply just walk away(which they truly do have that option. ESP is not in the business to just submit cash offers from investors on properties for the sake of submitting offers without education, or affording the opportunity for our clients to experience economic stability designed by the program or purchase a home and sell to another to make profit??!! are you kidding huge violations of our contracts with clients.

Once a formal approval around 70-180 days there are 2 components   1.the homeowner will receive $3,000 grant of successful closing of HAFA SS.. Our services are 100% free consultations. documents, coordinating advocating and educating our clients.

2 requirements:

The product which is the trust has a cost. again 3rd party law firm chosen by investors at that point after approval another investors requirement is to  2. enroll client into credit repair. again ESP does not partake in the credit repair. it's a third party company to repair credit. While the seller now a tenant will be establishing good credit history while leasing for 36 mos. durring credit repair / monitoring and once we know the fico score of a 620 or better we will at that point advise client to secure a loan from any lender they choose to go with. If for any reason (hardship etc.. client requests a 1 year extension the investors will go over clients income / credit and make a determination to extend terms more than willing to work with them unless they default. (it is the clients benefit to repair credit, establish and keep a good credit history by or before 36 mos to secure financing to buy their home back quickly

Proper estate planning can be a rewarding experience, and will provide you tremendous flexibility in developing your Revocable Living Trust. It can also save your estate considerable value, and pass effortlessly to those whom you wish to benefit.Revocable Living Trust – When properly prepared and funded, prevents the court from controlling your assets should you become incapacitated, and avoids probate when you die. Your RLT can also include estate tax reducing provisions, such as naming a charitable beneficiary.




I can assure you we are a real 501c3 non profit organization designated specifically to this purpose.  


Thank you for this explanation


are you still involved with ESP ? would like to chat with you .

thank you so much



This is (Fresh) Avoid them like the Plaque this is a fly by night Operation I saw their Add thru the Short Sale Superstar Network I figured it was Legget and they Certainly sound Convincing however they are as Couterfeit as A three Dollar Bill I Recommended them to a Client and after Soaking him for $2995 he is left high and Dry Facing a TDS these guys fly under the Radar by providing potential Clients with a Living Trust at $2995 this way they avoid the Foreclosure Predatory Law by charging an Up Front Fee Just think $2995 for a Living Trust these can be obtained from $250.00 to $400.00 I sat down for Lunch with an Attorney Friend of mine and his Reccommendation and Comment was they tell you Exactly what you want to hear then they move in for the Kill The Client had a $375,000 property ESP made a 106,000 offer and the Bank said take a hike so now what bye bye $2995 but at least you have an over priced Living trust maybe this can be used when you have a Cardiac after the house goes to Sale

I spoke with My Attorney Freind Again his reply was ask ESP for 3 Referrals and see what response that you Get.


Bryant this Kind of Stuff if left unchecked can bring a cloud over our whole Short Sale Operation Ehh?

We are not a Breeding Ground for Undesirables Right ?

BOA wont allow buy backs.  I'm sure other banks don't either.  I would stay away from this type of deal.



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