Arizona Short Sale

Archive for the ‘Short Sale’ Category

Prior to having to move the short sale process to  the escalation stage, you must mull over pre  escalation. You need to mull over a few things. Does the  bank employee that you are dealing with have the  capacity to assist the progression? Have you closed all  of the essential steps through the process thus far?  You have to be sure that the particulars are taken care  of before you decide to escalate.
Brian Gubernick is continuously chatting with his team  about asking questions. There are numerous common  questions that have to be asked. For instance, who is  the investor on the loan? Is there mortgage  insurance mixed up with this property? These could  create a potentialy lenghty process. Does the bank  have the ability to make a decision? As we raise  questions, we are gathering information but we are  also generating a report with that bank employee so  that we can keep ourselves in the forefront of the  banks mind. Keep in mind that the majority of these  bank people are honest people. They get screamed  at all day by people like us.
In effect, we like to slow it down and allow the  bank to understand that we are experts with a  high level of experience. Get the bank employee  at ease with you before you start hounding them  for information. It is astounding what the bank will  tell you if they feel comfortable with you.
Additionally, we try to be in touch with a folder every  other day. Send out an email. Make a telephone call. Do  something that puts your folder at the forefront of  their mind.

If you have questions, get your Short Sale questions answered by Short Sale Specialists.

Watch this and more short sale videos by Kevin and Fred at Short Sale Power Hour

Also, follow Group 46:10 on their blog at Avoid Foreclosure Arizona

For more videos on short sales check out Kevin and Fred on the Short Sale Power Hour. Video for Short Sale Specialists.

In chatting about mindset on this terrific Monday, Brian  Gubernick has a distinctive perspective. In effect, you  can take any inquiry as plain as asking the color  of a shirt and get numerous answers. It is only when  you are obliged to acquire the correct answer that you  will go the extra mile. A lot of times when you are  negotiating a short sale, you will be told NO by a  negotiator at the bank or their manager or  someone else. However, it is your mindset and desire  to get the response that you are looking for that will  resolve whether or not you ultimately get that  reply.
Your mindset in a short sale transaction is going to  decide whether or not you complete the transaction, help  the owner, and make a commission. Understanding  that you will be told the word no from various people  throughout the progression is the 1st stage that you  need to take. However, past that step, you need to  be ready to go to each level past that until you  get to an answer that you are looking for.
To finish, if you don’t believe that you have the  desire, drive, or resolve to complete each short sale  successfully there is a different way to earn money.  Find another agent that effectively completes short  sales and split the commission.
If you are not willing to assume the mindset that you  can work meticulously to get a desired result, do the  smart thing and team up with someone that can  take that mindset into a short sale transaction.

If you have questions, get your Short Sale questions answered by Short Sale Specialists.

Watch this and more short sale videos by Kevin and Fred at Short Sale Power Hour

Also, follow Group 46:10 on their blog at Maricopa – Arizona Short Sale Specialist

Watch Kevin and Fred, Short Sale Specialists, on the Short Sale Power Hour. Video for Short Sale Specialists.

Part two of the amendments is as follows…
Under the American Housing Rescue and Foreclosure Prevention Act each loan measured for foreclosure prevention will have to be taken on by an FHA lender reviewed on an individual basis. So the lenders in Chandler, Arizona still keep the power as they can assist or harm you in your hunt for foreclosure prevention by reviewing your credit scores, wage stubs, tax returns and other relevant numbers.  This is in reality no different than applying for a new mortgage! You will be required to meet much of the same criteria to become certified for the foreclosure prevention act.
Does that make sense? Even as we are not mortgage banks, it would seem that foreclosure prevention is not in your outlook if you do not have a next to flawless credit score. Isn’t this in fact simply a nasty joke, rather than an undertaking of congress to aid thousands of Americans?  It stands to reason that just one percent of the people in quest of foreclosure prevention can meet the criteria for this program.
An extra fascinating note from this plan…
American Housing Rescue and Foreclosure Prevention Act GSE Reform (H.R. 1427) borrowers are responsible for paying a lifetime insurance premium to the FHA, which your government determined will be a robust one and a half percent of the annual principal. Users of this foreclosure prevention act have to also be in agreement that if they sell their house for a gain in the future, they will share that profit with the FHA. In order to facilitate this, house owners will pay a three percent “exit fee” of the mortgage when they sell or refinance their home if they chose to use the foreclosure prevention act. 
How useful are these amendments to the public in Chandler, AZ looking for foreclosure prevention help?  From the outside looking in, it would seem that the foreclosure prevention act is designed at helping the FHA be more secure in the future, rather than serving the house owners that are looking for foreclosure prevention and trying to save their families properties. 
To sum it all up, with the deep recession that this nation is in at present and considering the obvious negligence of our Gov’t with their silly programs like the American Housing Rescue and Foreclosure Prevention Act, they have failed the American community.  There is really no offer of real foreclosure prevention aid to the people who need it most.  There is very little probability that this foreclosure prevention program will ever get to the citizens that can actually profit from utilizing it.
Perhaps, with the new administration, the American public can stumble on a foreclosure prevention program that will truly work FOR them.  Then again, between now and the arrival of any government plan that can truly help us, you are very much standing alone in your search for a foreclosure prevention system that will truly work for you. 

Do you want to go to the next step? Free Short Sale Consultation by Short Sale Specialists.

Fred Weaver and Kevin Kauffman, Group 46:10, do daily blog – find it here: Maricopa – Avoid Foreclosure Arizona

Watch Kevin Kauffman and Fred Weaver of Group 46:10, Short Sale Specialists, on the daily Short Sale Power Hour.

A current bill making its way throughout the halls of Senate, the American Housing Rescue And Foreclosure Prevention Act was approved a few years ago by the Senate and House of this nation and signed into law by President George Bush. Many of the people in Chandler, Arizona who are looking for information on foreclosure prevention have been asking for an clarification of this act of congress in terminology that they can understand. people, quite plainly, want a general idea if this foreclosure prevention is something that they can take advantage of.  Here is what we have found out regarding the foreclosure prevention act.
The House of Representatives worked meticulously a number of months ago to pass what they referred to as “the most comprehensive response to the American mortgage crisis” that the country has ever witnessed. At least that is their claim.  The act is called The American Housing Rescue and Foreclosure Prevention Act (H.R. 3221) and was shaped to help out with the existing catastrophe facing a lot of middle class Americans that possess houses while at the same time providing them with the desired aid with foreclosure prevention that they have been asking for. 
The act includes a mixture of bills including procedures to bring up to date the FHA and reform the GSEs, which could help with critical liquidity to our real estate markets immediately while also sustaining foreclosure prevention with enhanced regulation and supervision.
The American Housing Rescue and Foreclosure Prevention Act was formed to help property owners in Chandler, Arizona who are in front of foreclosure keep their properties.  It is supposed to help a increasing number of families with foreclosure prevention in the future, and encourage the country in places that have been hit hardest by foreclosures.
Still, keep this in mind, as soon as the American Housing Rescue and Foreclosure Prevention Act was signed into law, dozens of amendments were instantly made to it until it was so exclusive with its provisions that it just helped approximately one percent of the property owners that were looking for foreclosure prevention. 
Some of those amendments include…
Amendment 1: FHA American Housing Rescue and Foreclosure Prevention Act (H.R. 5830). Only primary residences are entitled for foreclosure prevention. NO speculators or investment properties qualify. second or third Mortgages loan in the same home will not be refinanced and will not have any means of foreclosure prevention. So, if you have a second mortgage, which a lot of property owners do, foreclosure prevention through this act will not be available.
The raw facts show that approximately seventy five percent of existing homeowners seeking foreclosure prevention at present have a second or third mortgage. That is an enormous group of people that can not get any foreclosure prevention relief.

Do you want to go to the next step? Free Short Sale Consultation by Short Sale Specialists.

Fred Weaver and Kevin Kauffman, Group 46:10, do daily blog – find it here: Fountain Hills – Mortgage Short Sale Arizona

More than a thousand house owners in Phoenix, Arizona region were able to use foreclosure prevention methods to keep their houses from being foreclosed on.  Because of a diversity of foreclosure prevention projects, millions of Americans across the state have been able to avoid foreclosure.  Contrary to popular belief, the banks and lenders that maintain these mortgages want to help you with foreclosure prevention just as much as you want to help yourself. 
The gov’t in Phoenix, Arizona understands that foreclosure prevention systems are essential to the families of this great state.  And they are doing everything that they can to help with foreclosure prevention for all of those property owners that need it.  There have been comprehensive efforts with respect to foreclosure prevention to help people stay in their houses. 
The foreclosure prevention plan that the federal gov’t unrolled was enacted by President Obama.  He also had the intentions of helping foreclosure prevention of houses that were bought with sub prime mortgages. The foreclosure prevention plan is set up and can be used until at least 2012. 
Under the foreclosure prevention plan, many people that face foreclosure or the possibility of foreclosure can have the chance to use something like a loan alteration. Loan alteration is a great method of foreclosure prevention as it gets the property owner into a state that they can feel happy with.  Yet, because the gov’t is involved, they are in control of who can use the plan.  That is a good thing for people trying to find a technique of foreclosure prevention.  Without the gov’t involved, a loan alteration can only happen if the lender agrees to it, and they only care about there money. 
The foreclosure prevention plan is useful for many, but its criteria can make it difficult for some to become certified.  Also, if you are one of those individuals that can’t make the payments at all, modifying the loan may not help at all.  Therefore, some of you need to mull over an additional foreclosure prevention option. 
Consider for your foreclosure prevention method the short sale of your property.  The short sale offers the property owner the opportunity to get out from under their mortgage by selling the property. 
Because of current state of the housing market, with property values falling, people don’t believe that they can sell their houses for enough money to pay off the mortgage.  While this is accurate, the short sale remedies that, which is why it is a very nice method of foreclosure prevention. 
With a short sale, you are able to sell your property for less than the value of the mortgage and the bank accepts that money along with other conditions that include either forgiving the remainder of the loan or working out a payment plan for the remainder of the loan.  Either way, it is a great way of foreclosure prevention. 

Do you want to go to the next step? Free Short Sale Consultation by Short Sale Specialists.

Fred Weaver and Kevin Kauffman, Group 46:10, do daily blog – find it here: Apache Junction – Arizona Short Sale Specialist

Today’s chapter of shortsalepowerhour.com is a  fantastic example of the highest height of  escalation. Kevin and Fred both have an escalation  correspondence to reveal with viewers.
Fred is at present working on an escalation email  that he recently sent to the inhabitants at Chase Bank. Fred  has been working on a short sale since late October  and has still not received any solutions or development  from the employees of Chase Bank. There have been  numerous requests for clarifications and updates to  the paperwork. All that Fred desires for is Chase  bank to amend the procedure to get some changed  consequences. This is in the greatest interest of the home  owner, the investors, the lender, the buyer, and Group  4610.
Kevin has his own circumstances dealing with Bank of  America on a property that been appraised for  between $45,000 and $50,000. Yet, the lender  continues to counteroffer in the $60,000 range.  Even with ordering other reports and providing  numerous previous papers to corroborate the evaluation,  Bank of America has not acted in good faith. A  trustee auction will not get more than the current  bid of $50,000.
Kevin and Fred like to work together with the lenders, not  versus them. They are working to the larger  benefit of all parties. The correct choice is to  ease the loss with a short sale instead of a  trustee auction.

If you have questions, get your Short Sale questions answered by Short Sale Specialists.

Watch this and more short sale videos by Kevin and Fred at Short Sale Power Hour

Also, follow Group 46:10 on their blog at What Is A Short Sale – Avoid Foreclosure Arizona

Kevin was contacted recently about his view on whether lawyers ought to negotiate short sales. This, like other subjects, has Kevin a little fired up. You have to keep in mind that if you employ an attorney to be your third party negotiator you are in actuality merely getting a paralegal or legal assistant to negotiate on your behalf. Truthfully, there are no lawyers sitting on the phone with a bank worker negotiating the short sale on your behalf. In addition, fewer than 50 percent of short sale documents that originate in an attorney office are successfully completed. So, if you scrutinize this more intimately, learning a little bit about the short sale method yourself could guide you to the same success rate. If the results that you could get are the same or better than a lawyer can get, isn’t it in your best interest to do it yourself?
Obviously, Kevin and Fred are opposed to the idea of lawyers negotiating short sales. This is, in part, because of their miserable success rate. Additionally, though, as an agent you have a responsibility to your home owner to protect the home owner. That responsibility does not necessarily exist with a third party negotiator. As an agent, you are invested in the house owner and the house owner is invested in you.
One of the other crucial points to understand is that you are a real estate agent and you recognize the comps, the market and the offers. The lawyers do not have first hand facts of those particular real estate issues.

If you have questions, get your Short Sale questions answered by Short Sale Specialists.

Watch this and more short sale videos by Kevin and Fred at Short Sale Power Hour

Also, follow Group 46:10 on their blog at Glendale – Foreclosure Short Sale Phoenix

There have been tons of concerns in the emails  lately about lead generation and video blogging.  Today, much like yesterday, we have decided to focus  on these subjects to help you get the clients and  business traffic that you desire.
Group 4610 lead generation comes from lots of  different sources. Still, the web based advertising  that they are using has been a big enhancement for their  business. They are going to reveal a great deal of the  facts of their web based advertising in a webinar on  Friday, March 5th at 10 AM MST. There is a link on  the shortsalepowerhour website. It is without charge to sign  up and attend. The webinar will communicate precisely what  they do for lead generation with their special guest  webmaster. The webmaster will make up a website on  the webinar.
Also, important to note is that Group 4610 uses  their website as a listing presentation. Essentially,  short sales are not the usual real estate  operation. So, it does not fit inside their  business model to sit down and meet all of their  patrons at length. Their website is a treasure of  facts and repeatedly asked questions to provide the  prospective consumer some comfort and clarity.
Basically, if you are not currently using your  website as a listing presentation, you should  strongly ponder it.
If you are interested in increasing your lead  generation through the internet check out the webinar to  get some more detailed knowledge.

If you have questions, get your Short Sale questions answered by Short Sale Specialists.

Watch this and more short sale videos by Kevin and Fred at Short Sale Power Hour

Also, follow Group 46:10 on their blog at Avondale – Mortgage Short Sale Arizona

Group 4610, Arizona’s Leading Short Sale Team has introduced a new-fangled video blog, suitably named myfirstshortsale.com. The center of this blog is to help house owners get the accurate information on short sales and what is really going on in the real estate marketplace nowadays. Because of their practice in the real estate marketplace and in particular with short sales, they have a better knowledge of the details and statistics that hover around the real estate trade.
The focus is directed at helping the home owners determine what is real and what is not real. They have closed more than 90 percent of the short sales that they have taken, with hundreds successfully closed.
A recent commentary highlighted Arizona’s Treasurer Dean Martin and how he wanted to help advance the short sale process because it has engulfed the state of Arizona. The narrative noted that approximately one out of every eight homes currently on the market in the Phoenix area are short sale homes. Since this stat seeemed a bit off, we checked it out. Ironically, we found that there are about 54,000 homes on the market. More than 19,000 of them are really short sale listings. We bring this up so that you understand that the information out their is not always accurate concerning short sales. Here is the bottom line, there are 2 things that have to get better to help these short sales get closed. 1st the lender needs to cooperate and more importantly, the real estate agent needs to be well-informed and experienced. So, as you search for a real estate agent, be sure to pose 2 specific questions to a real estate agent that you may potentially work with. How many short sales have you closed? What percentage rate have you closed?

If you have questions, get your Short Sale questions answered by Short Sale Specialists.

Watch this and more short sale videos by Kevin and Fred at My First Short Sale

Also, follow Group 46:10 on their blog at Maricopa – Short Sale Arizona