Maricopa, Arizona Short Sale

Archive for the ‘Short Sale’ Category

Welcome back and thanks for visiting us today on our website. This entire website is devoted to the house owner who is exploring the options on what you want to do with your house. Whether you are in a position where you can no longer pay for it or are merely no longer want to owe as much as you do against your mortgage and want to strategically default, this website is for you. We hope that you discover a lot of fantastic subject matter here on our website.

Today we want to center on a topic that has become awfully focal in the last couple months. It deals with your funds and the funds that you have in your bank account. There are lenders out there that are going into house owner bank accounts and taking funds to fulfill deliquencies on their house.

Please understand that the mortgage you took out on your house is secured against your residence and your residence only. The exclusion to that regulation is with the bank accounts that are with the same lender that has your mortgage. For illustration, if you have a checking account with Chase and your mortgage is also with Chase, Chase can take funds from your checking account to compensate your mortgage.

We have had several customers approach us regarding this exact topic. If you are taking into consideration a short sale or have missed a payment or two, we would propose that you shift your checking account to another lender. Close your accounts with a lender that has your mortgage.

Because of the checking and savings account agreements they have with you, they preserve the privilege to take funds from your checking account.

Give us a call if you would like more information on this subject or any other subject pertaining to short sales and your options. We have effectively closed several hundred short sales over the previous couple years and we would be grateful for the opportunity to talk with you today.

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 Avondale – 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.

Hello once again and welcome to our blog. We are Kevin Kauffman and Fred Weaver, Arizona Short Sale realtors. Completing more than 300 short sale deals in the last few years, we are basically the most successful short sale realtors in the Tempe vicinity.

One of the questions that we are asked normally is “what makes us different from other agents? Do we have contacts inside the lender?” A few years ago, we wouldn’t have said that our contacts within the lender were helpful to us. Nevertheless, we have come to appreciate that our contacts have saved a number of deals in the last few years. Our contact with people inside the lenders have helped us defer foreclosure sale dates and get deals approved.

If we require something urgently, we seem to be getting some preferential treatment. Your short sale isn’t going to automatically be approved five times faster than others. Nevertheless, you can rest assured that our team has those key contacts and we recognize how to utilize them.

No matter which lender you are dealing with, Chase, Citi, Wells Fargo, B of A, or any other lender, we’ve worked with each of them. more than 100 banks have worked with us in some way, shape, or form. Every lender operates differently. And likewise, each lender has a vaguely different way of handling short sale packages. Nevertheless, with our skill completing more than 300 short sales in the last few years, we are prepared for each situation.

We would consider it an honor to talk with you soon. We look forward to helping you make a decision regarding your home.

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 Gilbert – Arizona Short Sale Specialist

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

Hello and welcome to our website. We are Fred Weaver and Kevin Kauffman, Arizona’s leading short sale realtors. We have closed hundreds of short sales and we would like for you to get in touch with us to hear more.

We wanted to talk to you at present regarding what is going on in the short sale business today. Specifically, can foreclosure sale dates be delayed and as a property owner when should you start working with us in a short sale agreement.

Recently, some of the investors do not want to push back foreclosure sale dates as much as they have in the past. A year ago, if we were talking, I would have informed you that we could get your property on the market and get an offer in 60 days allowing your foreclosure sale date to be delayed. To be truly honest, that is not happening anymore.

If you are in a position where you are 60 or less days from foreclosure, please call us. We are not saying that your property is going to go to foreclosure. Yet, if you haven’t missed a payment thus far or you are only a payment or two behind, please get in touch with us shortly. The earlier you act, the better off you will be. If we have more time, we have a better likelihood to make a positive conclusion for you.

You must make sure that you are working with a proficient group that has relations within the lender and can effectively close your short sale. The lenders do want to help you out, but you have to get in touch with us sooner rather than later.

Thank you for joining us today. Please fill out the form here on our blog so that we can be in contact with you quickly. Have a great day!

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 Arizona Short Sale Specialist

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

Hello and welcome to the Group 4610 blog. We are Kevin Kauffman and Fred Weaver, Arizona Short Sale Agents. We have completed more than a few hundred short sale transactions since 2008. With a greater success rate and more experience than just about any other realtor in the Arizona Short Sale world, we are the premier short sale realtors in the area.

We would like to speak about a sensitive issue these days. Should you short sale your property? The strategic default, or as we refer to it, the business decision, is a very hot issue lately. You may be a property owner out there that is upside down on his mortgage. For example, you may owe $400,000 on your mortgage, but your property is only worth $200,000. You may be in a position where you are getting ready to retire or you are preparing to move. Possibly you have the capability to pay your mortgage, but you are doing this at the determent to your family. Essentially, you are throwing money at a bad asset or investment.

We have had lots of people come to us and say ‘What am i doing here? What should i do?’ The short sale, foreclosure, or keep paying the mortgage are all options that property owners are taking into account. We will not tell you what you should do, but you should make the correct decision for you and your family. A lot of people believe that they have a ethical responsibility to make their payments.

While that is a valid line of reasoning, there are some things in your mortgage contract that give you the right to stop making payments. Equally, the bank has the right to foreclose or accept a short sale. You have to evaluate what is most important to you. If that means that you have to walk away from your property with a short sale, you should strongly ponder it.

There are a few things you should always bear in mind. This is a personal decision for you. Do not permit anyone to tell you what is right or wrong. Your mortgage is a agreement that has options for you to contemplate. Look at what your property is worth now. How long will it take you to get your mortgage back to equal? There are consequences to each choice that you have. E-mail us today and we can help you consider those consequences.

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 Foreclosure Help – Foreclosure Short Sale Phoenix

Welcome to Group 4610’s blog. We are Kevin Kauffman and Fred Weaver, Arizona’s Best Short Sale group. We have closed hundreds of short sales over the past couple years. Still, this video isn’t about us, it’s about you!

One of the regular discussions we have with residence owners is about missing payments. Many of these residence owners are still current on their mortgage payment. Perhaps they haven’t yet experienced the cut in their income or they haven’t entirely exhausted their whole savings account so far. They frequently want to know whether they ought to or ought to not miss payments.

Understand a couple things about short sales. It is feasible to close a short sale without missing payments. Still, with the regularity that short sales are being done, the lenders are not even considering a short sale until the residence owner is missing payments. We believe that the lenders have made that change because they do not want the residence owner to take advantage of a short sale and still avoid the harmful effects of missing payments. Also, it is definitely a way for the lenders to keep short sale numbers down. There isn’t a single bank in the nation that has enough workers to deal with the short sale files they already have.

We are never going to advise you to make or miss your payment. Still, we can tell you that the bank will want to observe you miss some payments before they choose to even look at your short sale. Most of our clients are ok with the credit damage and knowing that they can get back into a residence in a couple years. We will talk about the decisions that are facing residence owners in a future episode.

Fill out the document on our website so a member of our group can have a short talk with you. Thank you for joining us today. We will talk with you again soon.

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 Short Sale – Short Sale Arizona

We are Group 4610, Arizona’s Best short sale group. Short Sales in Arizona are our thing. We often get questioned about why we are the best short sale realtors in Arizona. Essentially, what seperates us from other realtors in this Arizona short sale market?

I had a recent situation where a pal was going through a short sale and needed some guidance as to what to do with a short sale at Bank of America. I coached her a little bit and gave her some ideas to pass on to her short sale realtor. Essentially, if you are having troubles escalate to someone higher up at the lender.

After getting off the telephone with her, something dawned on me. I should have told her something else. It is not about what we do. Do not get me wrong. We have great techniques and we have great relations inside the lender. When we ask for something, they are conscious of who we are and they act in response to us. This happens because they understand that we complete short sales. We are not there to squander anybody’s time.

Essentially, our accomplishment is a complete product of our mindset. Short sales are thorny transactions. They are not like the traditional real estate dealings. Finding answers to problems, no matter the conditions, is what we do best. Our deepest committment is our target and, in turn, your result.

If you choose to work with us, know that when you enter into a relationship with us we take that very seriously. Our deepest committment is to get your short sale done successfully. We have a mindset that we are going to get the transaction done and help you steer clear of foreclosure. There are troubles that arise in this procedure all the time. Nevertheless, we choose to conquer those troubles.

If you have questions, get them answered here What Is A Short Sale – Short Sale Realtors

We are revisiting a subject matter that we talked about a month ago concerning BPO disputes and we hinted that the market might change a bit concerning BPOs. Basically, we thought that the number of active listings was going to go up and that sales were going to shrink. We coupled all of this theory into the idea that BPOs were going to get messed up in this development.

Particularly, the BPO challenges are coming from the lender valueing your house higher than it is truly worth. When you have had a house on the market for quite a few months and had no showings, you recognize that the house is worth less but the lender doesn’t always recognize that.

This seems to be happening more often now. So, a few of the tips that we have given are to work intensely to champion your BPO disputes to the lender. Use sold comps and active REO listings to do this. Take a peek at tax records to obtain this information. As we all recognize, the price of the active listings tells us where the market is going. If the price of homes on the active market are low, the market is going downhill.

The difficulty is that it takes a little for the banks to catch up to this modification in the market. In order to help you contest BPO values with the lender, we have another instrument that you ought to mull over.

There is a company out there that lots of of you are familiar with and the banks are familiar with it also, specifically, Lender Processing Services. LPS does lots of things but they have a instrument that we, as agents can truly use. Here’s how it works.

Sign up for an account with LPS and then you have the permission to pull REO market analysis information. That is a report that is resultant from tax figures. It gives many valuable pieces of information. This REO market analysis can give you a report that says what the AVM value is and what the REO value is.

The reason we love this report is because it is prepared by a third party. In essence, you can not manipulate it and we think that it holds much more weight with the lender. We have had great success using it over the last few months. This is a valuable instrument. We greatly suggest that you sign up for it today.

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 Apache Junction – Avoid Foreclosure Arizona

A fantastically crucial matter that has come up in the last few weeks is our spotlight today. We’ve seen this crisis pop up over the last few weeks and we want you to be able to avoid it.

Make certain that the bank you are dealing with on a short sale is not the bank where the home owner has a checking account. We have currently had multiple people over the course of the last few weeks that have approached us on this matter. Both present customers and soon to be customers have been telling us that the have missed payments and the bank has taken the money out of their savings account without their permission.

We think that the note you signed for the mortgage is only secured to the property. It is not secured to the checking account. Yet, we think that the banks have revised or applied their checking account terms of service to acquire their money. Essentially, they are saying that if you are deliquent on other accounts they can obtain the money from one account to apply it to a different account. They are stealing it without any consent.

We do not know if this is respectable or unethical, but it is occuring. So, there is a way around this. Ask your home owner up front where their checking and savings accounts are currently held. Make certain that if they are not held in the bank that you will be doing a short sale with. Immediately have them close down those accounts and get the money out. It is incredibly vital that you know this as short sale agents and that you share this information with your customers.

Get the word out to other teams and your customers. Do not let this become a crisis for the people that you are attempting to assist through the short sale procedure. Also, please remark below if you have seen this happen previously. Let us know what banks are utilizing this scheme.

One more thing to note, we will be in Las Vegas on August 25th with our Crush It short sales class. So, obtain your ticket now!

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 Queen Creek – Foreclosure Short Sale Phoenix

Another elite guest graces the pages of Short Sale Power Hour. Derek Gilbert runs a business in the Phoenix area as well as in Colorado. Derek has been with Keller Williams for about six years at the moment. Last year, Derek and his family relocated to Colorado and joined Keller Williams doing REO and Short sale in both Arizona and Colorado.

Derek has been doing REO for a bit now, but he jumped into short sales for a number of reasons. First, you can organize your business much better with short sales than with REOs. There is a superior profitability in short sales that comes with that handling. The regular commission on REOs for Derek has only been about 1.5-2% with all of the overhead involved. Yet, Derek enjoys making more funds earning 3% with short sales.

Derek is a go getter. He can close any transaction and has demonstrated that over his time as a short sale specialist. There are so many different resources that you can use to fight your way through a short sale. Many banks will tell you that their policy is to not pay full commission to real estate agents. Yet, those policies can always be adjusted.

For instance, many banks will try to slice the commission if the agents are from the same broker. Keep in mind that the banks are not in the real estate trade. So, they don’t necessarily recognize the real estate business. You, as an agent, need to help them understand the real estate trade now and then to get the commission that you warrant.

With REOs, the lender will always pay six percent. They will pay for a whole host of fees with an REO. So, why would you as an agent let them to pay a cut-rate commission with a short sale. Keep in mind that they can attempt to mark down your commission by one percent or they can incur an extra 10-12% from taking a house to foreclosure.

Do not let the bank to slice your commission. Escalate up the chain of authority if you need to. Now and then you have to help the lender recognize the real estate industry and the banking business.

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 Phoenix – Arizona Short Sale Specialist