Foreclosure Vs Short Sale and Your Credit Rating

If you are behind in your mortgage payments, owe more than then the house is now worth, your mortgage company has contacted you about a foreclosure and there is some type of hardship that has caused this to happen such as loss of job, illness or a financial hardship – this would qualify you for a short sale.

A short sale is when your house is sold for a discounted price or less than you owe. The mortgage holder has to agree to the discounted price. Many homeowners are doing this type of sale themselves to save a foreclosure and save their credit rating.

The first thing that you will need to do is contact your lender to be sure that they will accept a short sale. Mortgage companies have many foreclosures these days and usually getting them to accept a discounted price is not a problem. Ask the mortgage company for a list of requirements or paperwork that you will need to gather. Once you have completed their paperwork then submit the package to them.

Banks usually will want to work with you on this to prevent a foreclosure and accept less than what is owed as it prevents the entire legal proceeding of foreclosure.

It was recently reported that almost a third of the existing homes recently sold were short sales or foreclosures. Short Sales have now become a foreclosure avoidance strategy. This could be a win-win situation for the buyer and the seller as well as the lender.

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Fred Weaver

Fred Weaver is a founding co-owner of Group 46:10. He has been working in the financing/real estate business for over 7 years. Fred began his real estate career by working for a large wholesale bank as a processor and rate/lock specialist for home mortgages. After 2 years in the business, Fred transferred from the banking side of home loans to the mortgage side. While on the mortgage side of financing, Fred gained experience originating mortgages and processing files for Morgan Capital of Arizona, Inc.

In October of 2004, Fred became a licensed real estate agent and began working for a large real estate company in Scottsdale , AZ. H e received multiple real estate awards in his first 2 years in the business earning the 2005 and 2006 Centurion Award, given to the top agents of Century 21. In the summer of 2007 Fred joined Keller Williams Realty, currently the 3rd largest real estate company in the United States, and embarked on a new period in his real estate career.

In February of 2008, Fred and his business partner, Kevin Kauffman, began working together and over the next few months created a real estate team named Group 46:10 which currently hangs its license with Keller Williams Arizona Realty in Tempe, AZ. Group 46:10 currently has 10 members on its team and is one of the top-ranked teams in the Southwest Region of Keller Williams Realty. Fred and his partner Kevin rank in the top 1% of all Keller Williams Realty agents.

Kevin Kauffman

Kevin is a founding co-owner of Group 46:10. He began working in the real estate business in 2007 after spending 8 years working in the finance industry for companies such as Bank One, Green Tree Financial, & GE Capital.

Despite being relatively new to Real Estate, Kevin understands what it takes to succeed in business no matter what the external factors are. In his first full year in real estate, a time when the economy was in a free fall and many realtors were going back to “day jobs" Kevin was named “Rookie of the Year” in his office and has consistently been at the top of the production charts.

In February of 2008, Kevin and his business partner, Fred Weaver, began working together and over the next few months created a real estate team named Group 46:10 which currently hang its license with Keller Williams Arizona Realty in Tempe, AZ. Group 46:10 currently has 10 members on its team and is one of the top-ranked teams in the Southwest Region of Keller Williams Realty. Kevin and his partner Fred rank in the top 1% of all Keller Williams Realty agents.

Don’t Just Take my Word…

I would recommend Kevin Kauffman to anyone trying to sell a house or any new home buyer in the market for a house. Kevin's communications skills are what make him a great Real Estate agent. He always provided up-dates on our house situation and was always available to take my calls anytime. His understanding of the market and his ability to market our property aggressively lead to the house selling in a down market.
~Matthew S.

Fred exceeded my expectations when it came to selling my three homes. His follow up, thoroughness, and knowledge of the marketplace made the transactions effortless! Fred is exactly who you want to be working with when buying or selling a home!
~Liz G.

It is my pleasure to talk with you about my experiences with Fred Weaver in my real estate situation. I was unable to make my house payments on both homes and was looking for options that would not involve a foreclosure or bankruptcy. Fred and I sat down after I missed my first payment and decided to list my home for sale. Fred was in constant contact with my 1st & 2nd lenders. We received an offer at which time Fred ordered an appraisal to support the offers position and let the Lender know that this was a proper offer. The offer was accepted, the house sold, no foreclosure or bankruptcy. Fred was the person that made this all happen as he was patient and very knowledgeable about the "short sale" process. Fred gave us peace of mind, handled everything for us and truly worked hard to make it all happen, Thanks Fred!
~Bob Borbeck

My wife and I would whole-heartedly recommend Kevin Kauffman to help you with the sale of your home. We found ourselves in a complicated situation when our income fell and we were unable to keep up with our mortgage payments. Kevin helped us analyze the situation and plot a course that would help us out of the situation. Kevin and his team quickly listed the home and we were amazed at how quickly we saw results. Kevin was amazing at following up with our 1st and 2nd lenders to make sure the sale went through without any snags once he found qualified buyers. He kept us in the loop at each step of the process. When it came time to close, Kevin really went the extra mile to see the sale through. I wouldn't hesitate for a moment when deciding to work with Kevin – you can trust him to professionally sell your home.
~ Jason & Carrie H.

I would highly recommend Kevin Kauffman to anyone trying to sell or short sell their property. Kevin is truly in expert in his field of Short Sale / REO Sales, and knows exactly how to navigate the long and difficult process with the lender. Within several weeks of listing my property, Kevin already had several qualified offers that we were ready to present to the bank. When the bank appraisal (or BPO in this case) came back too high the contract amount, Kevin worked diligently with the lender to contest, and successfully revise the appraisal amount to keep our deal alive. In the end the deal moved forward and closed without a hitch. Kevin was always readily accessible and was proactive in providing updates every step of the way. If you are looking for a knowledgeable expert to sell your home, look no further than Kevin Kauffman.
~ Justin M.

Kevin Kauffman is a truly great real estate professional that can get the job done. He sold my father's home in a down market in a timely manner. He has good follow up skills, and he explained everything thoroughly throughout the process. The real estate transaction was an effortless one. He is extremely friendly and I would recommend him to anyone wanting to sell their home, even in this difficult market.
~Samie M.

We were struggling with a financial situation due to the current economic conditions and was unable to continue making monthly payments on 2 of our rental properties. We did not want to foreclose, but wasn't sure what our options were. A realtor referred us to Kevin Kauffman and Fred Weaver, and after speaking with him, they were able to clearly discuss our options and guide us thru the process of short selling both of our properties. I can’t thank them enough for the outstanding work they did, to short sale both of these properties. We are so grateful and would tell anyone that’s facing the same situation that it was truly a pleasure doing business with Kevin and Fred and that they were so helpful and knowledgeable in guiding us through the short sale process.
~Jerry and Darlene J.

Thanks sooooooooooo much for your assistance! You and your staff made a very stressful situation worry free. Thanks for your professionalism, attention to detail and most of all your personal touch to the whole situation. You were down to earth, easy to talk to and provided a very friendly and family like atmosphere! Thanks Again!!!
~B. Richards

Many thanks to Group 46:10 of Keller Williams for your persistance and tenacity on helping me with my short sales. Special thanks to Fred Weaver, Kevin Kauffman, Jay Rusk, and Heather Honold for not giving up on my property. You guys are truly the short sales kings. Thanks again!
~Manny R.

Group 46:10 YouTube

Aurora Is A Bit Slow When It Comes To Short Sales http://shortsalepowerhour.com/power-hour/aurora/ A silent Kevin and an animated Fred bring F'ed Up Friday to you about Aurora Loan Services. Somehow Aurora has only gotten worse. Here's the story... From: yumacriminal96 Views: 103 1 ratings Time: 09:51 More in People & Blogs

Watch Aurora Is A Bit Slow When It Comes To Short Sales on YouTube

Re-Trent, The Short Sale Genius Imparts More Knowledge http://shortsalepowerhour.com/power-hour/trent-chapman/ Trent Chapman talks about his new distressed property designation, short sale software, and more. From: yumacriminal96 Views: 103 0 ratings Time: 06:11 More in People & Blogs

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Trent Chapman Talks About Escalation http://shortsalepowerhour.com/power-hour/trent-chapman/ Trent Chapman joins Fred and Kevin to speak about how to escalate your short sales. From: yumacriminal96 Views: 134 0 ratings Time: 04:31 More in People & Blogs

Watch Trent Chapman Talks About Escalation on YouTube

Short Sale Success Sometimes Means You Have to Do Something Different http://shortsalepowerhour.com/2010-kick-off-group-4610-style-short-sale-power-hour-01-04-10/ Kevin and Fred promote a handy little website and strongly urge some of the agents out there that are struggling to DO SOMETHING DIFFERENT! From: yumacriminal96 Views: 134 0 ratings Time: 05:15 More in People & Blogs

Watch Short Sale Success Sometimes Means You Have to Do Something Different on YouTube

Post Short Sale Approval Problems http://shortsalepowerhour.com/power-hour/approval/ Kevin and Fred spend a little time on a topic that they have never covered on Short Sale Power Hour or in any of their short sale classes. From: yumacriminal96 Views: 164 0 ratings Time: 05:53 More in People & Blogs

Watch Post Short Sale Approval Problems on YouTube