loss mitigation
Cash Back From Your Short Sale
Hello and welcome. Thanks for tuning in today. We are Kevin Kauffman and Fred Weaver, Arizona’s best short sale agents. We have closed more than 300 short sales over the past few years at a very high success rate. This website is to inform homeowners that are underwater, in arrears on their payments or about to fall overdue on their payments.
We identify that funds is tight for many of you. We recognize that most of the clients we deal with are under pressure. So, we wanted to share some good news with you. This doesn’t relate to everyone, but it might apply to you.
If you have a loan that is serviced by Wachovia or a loan that is owned by FHA, you have the opportunity to get reimbursement after closing a short sale. We had a customer collect $5000 from Wachovia after completing a short sale. They term it a seller incentive. That is miraculous.
So, if you have a Wachovia loan, short sale is something that you should think about. It can not just relieve you of your payment, but it can also deposit some cash in your pocket.
One of the additional things is the FHA loan. We have done a number of of these over the previous few years. They will incentivize the sellers by $750 for closing a short sale. Nonetheless, if you close the short sale in less than 90 days, they will up that total to $1000. We have had many sellers receive $1000 for completing a short sale.
If you are considering a short sale with an FHA loan or Wachovia loan, please contact us today. You may end up with an extra $1000 to $5000 in your pocket. If you have questions about this, fill out the form on our blog and let us talk with you today. We would be happy to answer some of your questions and help you figure out if you qualify for some of these incentives. We look forward to talking with you soon.
Get more information on selling your home from Kevin and Fred at My First Short Sale by the Short Sale Specialists of Arizona
Seeking Legal Advice Regarding Your Short Sale
Hello and welcome to our blog. Thank you for joining us today. On this blog we have plenty of information in relation to short sales. We are Kevin Kauffman and Fred Weaver, Arizona’s leading short sale realtors. With more than 300 short sales productively completed, our motivation is on helping home owners circumvent foreclosure and move through the difficult short sale procedure.
Today we would like to talk with you about legal advice and how that relates to short sales. One of the things that we have to do is inform you to seek legal advice if there are legal questions that you have. We are not attorneys. Even though we are experts in real estate and short sales, there are specific things from a legal side that we can not give you.
Many times, instead of talking with a skilled real estate lawyer, some prospective customers may seek advice from a general lawyer or a bankruptcy lawyer or their accountant. Every now and then people think that any lawyer can answer their questions. Nonetheless, with real estate law it is totally different.
When it comes to short sales, purchase contracts, and deals that involve lenders, we are your experts. Nevertheless, when it comes to your potential deficieny rights and things like that, seek out an lawyer for that advice. Be extremely careful if that attorney is giving you real estate counsel. We will not cross that line and give you legal advice.
It is essential that you find capable people. We have a few people that we can refer you to. Remember that an attorney will consult with you from a legal point of view and they are always thinking about the worst case scenario.
We would love to chat with you about more questions concerning short sales. We will answer what we can and refer you to someone else that can help you with anything that we can not assist you with.
Get more information on selling your home from Kevin and Fred at My First Short Sale by the Short Sale Specialists of Arizona
Short Sales And Foreclosure In Our Nation
Hello and welcome. Thanks for logging on today. we have something that we would like to communicate with you. Kevin and Fred run a business called Group 46:10. We have completed more than 300 short sale transactions over the past few years. That means we have had the privilege of dealing with lots of homeowners that are in a difficult situation. Nevertheless, we have been able to successfully keep their property from going to foreclosure.
One of the questions that we listen to repeatedly is about when the homeowner should initiate a short sale. We also see a trend that homeowners do not want to ask for help or talk about their situation. It isn’t something that people like to share. We want you to keep in mind that your credit doesn’t define you and your circumstances don’t define you.
One of the remarkable details that we heard a short time ago from one of the major banks is that the typical number of days that a borrower is late prior to foreclosure is 448 days. This means that lenders aren’t foreclosing on houses, on average, for greater than 15 months. With a lot of states that utilize a judicial foreclosure procedure, the foreclosure takes a minimum of 365 days. We bring this up to you today because we want you to act sooner rather than later.
There is no pressure to do everything right now. However, you are going to have to do something regarding your circumstances. It is always better if you seek advice from experts like us. The options accessible to help you are decreased the longer you wait. The faster you can start working with the problem, the sooner you can get your finances back in order.
Please fill out a form today on our website. We look forward to talking with you shortly. Have a magnificent day!
Get more information on selling your home from Kevin and Fred at My First Short Sale by the Short Sale Specialists of Arizona
Dealing With Expired Broker Price Opinion’s
This is Short sale Power Hour and today is Freaky Friday. Today’s topic is one that a few specialists may be seeing, but have no idea why it’s happening. We talk a lot on this show concerning BPO’s. We have discussed how the BPO procedure works. We have discussed how to argue a Broker price opinion. We have spoken regarding how much importance the BPO really holds in the transaction. We have even chatted about how some lenders do not care about the BPO at all. Yet, one matter that we have not talked about is expired Broker price opinion’s.
You have a short sale deal and are concerning to get it approved. Yet, if it took a extensive time to complete or a purchaser rescinded, the lender may have been proceeding with the deal and realize that the Broker price opinion has expired.
Most specialists are not taking the time to verify when the Broker price opinion was completed. agents also don’t bother to ask the bank negotiator how long the Broker price opinion is valid. We have learned it the hard way. The most terrible thing in the world is when you are prepared to get an approval and the bank calls to notify you that the Broker price opinion is expired.
There are a few things that you can do to defeat this problem. You need to verify when you got the BPO, when it was finished, when it was updated in the system. Observably, we are asking for the amount. And finally, you have to find out how long that BPO is good.
Take one further step and speak to your negotiator right before you offer your folder for approval. Especially when you have had a long short sale or a previously rescinded short sale, you should check into the Broker price opinion.
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Unforeseen Expenses That Impact A Short Sale
Hello, we are Derick and Andrea with the Capstone Team, your Bay Area short sale realtors. Today we are going to elaborate on unforeseen expenses that can derail your Bay Area short sale. We have touched on it in a preceding video, but we really want to inform the people about what they need to know in order to have a successful short sale.
The most critical thing is to tell your realtor. If you have not been paying your taxes or your HOA dues you should tell your realtor. The easiest means to verify whether your taxes have been paid is to go to the county and pull up the county tax records. Another thing that we are observing recently are violations. For instance, in the city of Oakland you must have waste services even if you are no longer living in the property. Furthermore, people are dumping their garbage on their land. If the city sees that, it is a violation. So you want to keep an eye on the property.
Also, HOA fees are a problem. Sometimes you can negotiate with the HOA companies for a smaller amount. The way to prove if there are any violations is to pull the preliminary title report or go to the county recorders office.
Another piece that comes up in certain cities are permit concerns. Every now and then the city won’t even let you close on a house if there are permit concerns. Any code breach can be a predicament. If you are worried about this, you can go to the county recorders office and they ought to have these problems on file.
The secret is to find out if any of these troubles exist on the home. You, as the seller, will run the risk of your Bay Area short sale transaction falling apart. Hopefully this gives you some thoughts as to what you should think about ahead of time.
If you have any questions please feel free to contact us. We are the leading Bay Area short sale realtors. We look forward to speaking with you soon.
Get more help from short sale Realtors, Derick and Andrea, at The Capstone Team presented by the Short Sale Specialists of the Bay Area
Your Credit Score Doesn’t Define You -The Short Sale Decision
Welcome to one more edition of Mindset Monday. First, we would like to inform you about a fantastic experience that we had last week. We had the opportunity to give a free live seminar to house owners. The seminar was specifically to help house owners understand how the short sale process works. There is a large deal of misinformation out there. So, we tried to offer a little truth to these property owners.
This seminar got us thinking. There is something that we say all through our courses and we tell home owners. Nevertheless, we haven’t talked about the topic on shortsalepowerhour.com. That point is simple.
“Your credit doesn’t define you!”
What does that mean and why do we state it? Yesterday was a fantastic example. In talking with home owners, the first thing they said was that they had never missed a payment in their life. These people know that they have to do a short sale. They are afraid to miss payments since it will harm their credit score.
People associate their worth to their credit score, as if paying their mortgage makes them a good individual and not paying their mortgage makes them a bad individual. Realtors need to keep this in mind. It is a good way to soften the blow of facing this complex decision.
Your credit ought to never run your life. As a civilization we have been programmed to believe that we need to have great credit scores and we need to charge everything. The wealthiest people in the world do not use credit to define who they are. We could all learn something from them.
Also, if you are not from the Arizona vicinity but you would like us to come to your region to educate, please fill out the form on our website. We are starting to book classes for the first quarter of 2011.
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Foreclosures Will Begin Again
Yesterday we discussed the foreclosure freeze and how, in our opinion, it has virtually no influence on our industry. Let’s continue with that conversation. There has been more information from BofA and GMAC in the last 48 hours. As early as next week, these lenders are going to resume foreclosures. This is remarkable because, in the 23 judicial foreclosure states, they will recommence foreclosures. Yet, they will examine their method in the other states.
I think the media has blown this out of proportion along with a lot of real estate agents. That comes from not searching further into what the news really is. Some real estate specialists are thinking that if banks aren’t doing foreclosures, it is a wonderful time to get some short sales, assuming that they have longer time to deal with lenders.
Nevertheless, here is an attention-grabbing stat from an employee at key lender. The average days of deliquency at foreclosure is a whopping 448 days!
448 DAYS!
That is almost fifteen months. How much more time do you want to get out of your home? We are homeowner advocates, but if you are deliquent for roughly 15 months, you ought to lose your home.
Real estate specialists, you have an average of 448 days to close a short sale! That is plenty of time to list a home and close a short sale. It is never the external circumstances that control our business. Any specialist that feels this is a good chance to get into short sales must recognize that the chance has always been there. The market is not getting better any time soon. You have the opportunity to help homeowners.
Moreover, homeowners out there, take action sooner rather than later. agents need to help them do this. There are too many homeowners waiting on loan mods, but loan modifications don’t work for the vast majority of homeowners.
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Short Sale Team Recently Got Stronger
Good afternoon, Steve Horn with ShortSalesDoneEasy.com, your Tempe short sale realtor. I’ve just returned from Keller Williams Mega Agent Camp in Austin, TX. It focuses on the top leaders of our business and it gave us some excellent ideas as we look to aid home owners in Tempe steer clear of foreclosure.
I’ve decided to add two extra negotiators to our short sale team to make sure we are closing files in a judicious manner. Each negotiator will be handling 20 files a piece. Having these negotiators on my squad is one of the reasons why I am one of the best short sale agents in the Maricopa county area. If you are hiring a real estate specialist that is outsourcing their negotiations, it is probably not the right choice. There are lots of negotiation companies out there and they are not liable to anybody. My negotiators are held accountable and that makes them incredibly successful.
Check out shortsalesdoneeasy.com and click on the short sale survival guide. That will prompt me to call you myself and chat about where you are at in the short sale procedure. I love educating my clients as to the short sale procedure and the value of a short sale over foreclosure.
I won’t be giving you legal or tax information, but I will educate you and let you make the choice. You can expect that i will be very straight forward with you, because each state of affairs is different. While I have had significant success in Ahwatukee as a short sale specialist, I realize that this decision is yours. I enjoy being able to educate customers and help them figure out which choice is right for them.
If you are a buyer or a seller you may want to check out our monthly short sale seminars. They are now being streamed live via our website. Thanks for checking us out today.
Get more help from short sale Realtor, Steve Horn, at Homes by the Horn presented by the Steve Horn Team, Short Sale Specialists of Arizona
Widespread Wells Panic Wasn’t Worthwhile
With another Mindset Monday in our midst, we would like to talk about the same issue that we visited on Friday. We discussed the Wells Fargo fiasco. When the reports of this latest Wells Fargo policy came out people freaked out. They were wondering how they would ever do another short sale with Wells Fargo.
The first mindset that you ought to probably take from this situation is that nothing is ever what it seems. We speak concerning this idea repeatedly. So, you should be familiarized to that thought by now. However, the other thing you ought to consider is that your response to a situation tells lots about you. Your reaction to any situation is a big indication of your familiarity and mindset around that situation.
Another thing to ponder with the Wells situation is what will occur next. Rather than get flustered, take a level of confidence into the circumstances and ask some incisive questions. Here is how we dealt with it, and perhaps you can see a thought development through how we dealt with it.
First, we looked at the guidelines and noted that it did not even make sense. So, we got in touch with Wells to find out if the email is correct. Second, we wanted to know why the modification is being made. Understanding why the alteration is being made will give you some insight as to how you can deal with the change.
Because we are self-confident in the short sale procedure, saving money over foreclosure, we recognize that the banks will still delay foreclosure dates. At the end of the day, it doesn’t matter what the policy says if you realize that the banks ultimately make greater money from a short sale than a foreclosure. Step back from the circumstances and examine it before you respond to it. Nothing is ever as it seems.
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Options To Sidestep Foreclosure – Short Sale
Hello and welcome. We are Kevin Kauffman and Fred Weaver of Group 46:10. We are Arizona’s top short sale agents. We wanted to spend a couple minutes chatting to you about some of our prior blog posts. A lot of people that watch our blog and contact us need to know what their options are to circumvent foreclosure. The choice that we specialize in is short sales. We’ve closed greater than 300 short sales over the past couple years at a 90% success rate. However, we want to make you aware of all of the choices that you have to circumvent foreclosure.
One of the other options that comes up is referred to as a deed in lieu of foreclosure. A deed in lieu of foreclosure is usually a means that can be utilized if you have one loan on your home but not two. Essentially, you give possession of your property back to the bank. In return, they do not foreclose on the house.
If you call up the lender, they can inform you what that procedure looks like. A deed in lieu is usually looked at by the lenders as a means that is similar to a foreclosure. It is considered better than a foreclosure but a little bit worse than a short sale. Your finest route to be eligible for a new house is a short sale.
We get questions from property owners all of the time about deed in lieu of foreclosure. Nevertheless, many of these clientele call their lender and the bank asks them if they have tried a short sale yet. Lots of times the bank will ask you to attempt a short sale before you attempt a deed in lieu of foreclosure. So, if you have not attempted a short sale, the bank typically will not allow this alternative.
If you have added questions about how you can escape foreclosure, please fill out the form on our website and somebody from our team will contact you.
Get more information on selling your home from Kevin and Fred at My First Short Sale by the Short Sale Specialists of Arizona
The Reality Concerning Short Sales And The Recession
Hello, I’m Steve Horn with ShortSalesDoneEasy your Tempe Short Sale Realtor. How many people out there saw the article titled “The Recession is Over!” It’s worthy of note. The article states that the recession ended in June 2009. However, if I look at my information in the Maricopa county real estate market, what a residence sold for in June of 2009 versus what a residence sold for in June 2010 the recession isn’t over. There is no evidence to illustrate that the recession is over. I want to let you know that we are not out of a depreciating market in the Maricopa county locale. In fact, we are seeing lenders make choices that are making the short sale procedure more complicated. There are bills being sent through legislature that will standardize short sales. That would be nice, but all of this is actually only smoke and mirrors.
I’m not an economist. I’m a Queen creek Short Sale Agent. I focus in assisting my clients in avoiding foreclosure. It is my duty to give my clients recommendation on what the best option is for them.
I simply can’t stand the government telling citizens that we came out of this recession in 2009. Not all areas have been hit like the Mesa market. Nonetheless, the Scottsdale market is definitely still in a recession.
Contact a short sale realtor. Hopefully you will get in touch with me for specific advice. We are going to see a larger depreciation rate in the Scottsdale market over the next couple years. We are far from finished with this distressed market in the Scottsdale area. Give me a call so I can give you advice on how to take advantage of this market as a seller or a buyer. I’m a Tempe short sale specialist.
At Paradise valley Shortsalesdoneeasy, we do make your short sale done easy. Make it a wonderful day!
Get more help from short sale Realtor, Steve Horn, at Homes by the Horn presented by the Steve Horn Team, Short Sale Specialists of Arizona
Time Is Not A Luxury You Possess In Short Sales
With Freaky Friday upon us, we would like to communicate a tale about a luxury short sale that is about to close for us. I’m sharing this narrative to expose what is really going on behind the scenes at the bank.
We took this file greater than a year ago, listing it at almost $1.5 million. Remember that in 2009, less than 10% of the sales were greater than $300,000. That gives you a quick look at how luxury houses sell in the Mesa vicinity. We had the price under $1 million before we ever got an offer. The buyers had to eventually raise the offer to roughly $1.2 million.
The lender decided to take 60 days to present for approval. Through this process, the purchasers looked at the property and the comps and decided to yank their offer. So, we had to put the property back on the market at about $850,000.
We got a new offer at that value and the lender countered the offer. Still, after the buyers refused to increase their offer, the lender accepted the original offer. The lender approved the offer in about 3 weeks and the property will close later this month.
We bring all of this information to you to point out that the choices of these banks are costing them hundreds of thousands of dollars. The banks have to take into consideration more than a few things. Lenders have to look at more than just the BPO and net proceeds. Please, take into consideration the price range of the home. Look at the amount of active listings on the market and the amount of inventory in the vicinity. With this particular house, there was about 5 years worth of inventory in that ZIP Code.
As agents, you need to provide the bank with other details. Each day counts. 60 days can cost you tons of money.
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Banks Reviewing Foreclosure System
Welcome to shortsalepowerhour.com. Today is Wednesday and there has been a lot of attention in the media in relation to lenders postponing foreclosure precedings. While it does not personally impact our business, we realize that it is a major story.
This whole disaster started with GMAC and Ally Financial. They basically announced that they may have messed up in all of the states that have judicial foreclosures. Bank of America and Chase came out and stated that they needed to look at their procedures also. Conversely, Wells Fargo has openly stated that their procedure is acceptable. So, there will be some jockeying for position among the banks.
Here are the particulars. This news applies to judicial foreclosure states, which doesn’t consist of Arizona. Frankly, we don’t know how this is going to alter your short sale business. Please post some remarks below on what you are observing or hearing with regards to how this will harm or help your company.
House owners out there, please understand that this only applies to states that are judicial foreclosure states. Arizona house owners it does not apply to you. Realtors in states that are not judicial foreclosure states have to get that message out to house owners. We just wanted to get that news out there if you weren’t aware of it. Come back tomorrow for more excellent stuff and don’t miss Friday’s episode. SERIOUSLY! don’t miss it!
One last note, we’ve got Crush it classes planned in various locations across the nation. So check out shortsalepowerhour.com to see if there is one coming to your region. Currently scheduled dates include Maryland on the 12th of October, Pennsylvania on the 13th of October and a pair of dates in southern California in early November.
If you would like Crush It courses in your backyard, get in touch with us today!
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Foreclosure Alternatives
Hello and welcome. We are Kevin Kauffman and Fred Weaver, Arizona’s premier short sale realtors. We’ve completed higher than 300 short sales in the Queen creek area. Nevertheless, this website isn’t about us. It is about you, the property owner. This blog is designed to give you a little information and clarity concerning short sales.
We wanted to speak regarding alternatives to foreclosure. Many people want to know what their choices are. Some of the alternatives sincerely work. Yet, there are a few that you will not meet the criteria for or merely will not be a good alternative for you.
Home owners often call the lender and inquire if they can refinance. The easy response is ‘yes’ you can refinance. Yet, the lender doesn’t give loans for more than the house is worth. This is the predicament that lots of people are running into.
An additional option for property owners is to bring funds to the bank to pay down your mortgage in order to refinance. We’ve got an entire list of alternatives to foreclosure in Arizona and specifically in the Tempe area. Future videos will discuss some of the other choices to foreclosure. So, please continue to view our home owner help videos.
Please fill out the form on our blog or make contact with us today. We can assist you through this difficult process. Whether your mortgage is currently held with Wells Fargo, Bank of America, Chase, and any other lender, we have worked with all of them successfully completing 90% of the short sales that we deal with. Because the nationwide standard for successfully closing short sales is only 30-50%, you need to hire somebody with a track record of success. Please contact us today for greater help.
Get more information on selling your home from Kevin and Fred at My First Short Sale by the Short Sale Specialists of Arizona
Short Sale Industry, Nothing Is As It Seems
Fred and Coach just got done with an occasion in Scottsdale with a Bank of America administrator, hosted by Brian Gubernick. This installment is for all of the agents out there that don’t take the time to instruct themselves, trust everything they read and listen to what negotiators say.
In the present day, with all of the changes going on in the short sale industry, nothing is ever what it seems. Secondly, you need to get your head out of the sand and formulate your own decisions.
What we discovered today, listening to the Bank of America administrator, is that banks don’t truly know what they are doing any more than the real estate specialists. So, if you ask ‘How” to do anything you are instantly disempowered.
As real estate specialists, we need to be more dedicated to learning our profession. This isn’t a game that you hop into simply to try it out while ruining twelve home owners lives. You have to comprehend what a deed in lieu is, what a loan modification is, what a trustee auction is, and dozens of other things.
It was extremely obvious that the Bank of America boss was not happy with the real estate community either. There are too many real estate realtors that are misinformed or just plain lethargic. Get the actual details from people that are checking the sources or verify the sources yourself! Real estate agents, we love you. Yet, it is time to lift up our profession.
We’ve got a special offer for you. If you go to shortsalecrush.com, you can get our 12 hours of teaching for a hugely reduced price. Please educate yourself. It is time to take the real estate profession to another place. Also, just because you are knowledgeable, that doesn’t mean you have learned to think for yourself. Nothing is ever what it seems.
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Consolidate Your Credit!
