Unquestionably the most disappointing thing which may occur to the property owner is going to be to forfeit his home, though that will not suggest it is the conclusion of your credit concerns. It may worsen, for the reason that because of the current financial crisis, your dwelling might end up being put up for sale at a much lower asking price than it is really worth and, not surprisingly, you will have to obtain added money in an attempt to have the ability to pay off your debt.

My First Short Sale

Thanks for stopping by our blog today. We are Kevin Kauffman and Fred Weaver, the leading short sale specialists in Arizona and specifically the Phoenix region. We sought to get a couple minutes of your time to talk about short sales and a few of the questions that we hear from potential clients on a regular basis. We have closed greater than 300 short sales over the past couple years and one of the questions we pick up most frequently is “Why would I do a short sale?”

Short Sale Power Hour

Hi and welcome. We are Kevin Kauffman and Fred Weaver, Arizona’s leading short sale specialists. We’ve closed more than 300 short sales in the Ahwatukee region. Still, this blog isn’t about us. It’s about you, the property owner. This website is designed to give you a little information and clarity concerning short sales.

We’re here today to speak to you about GMAC bank. Owned by Ally Financial, GMAC has made a lot of changes over the past few years. They have just changed their process to Equator, which is a smooth online system for dealing with short sales. Their process has gotten much smoother in recent years.

Would you like to purchase a house following a recent foreclosure? A foreclosure makes you feel the pain of leaving your house and having to make a brand new start. It is even more stressful in case you lost your home as a consequence of medical difficulties, a loss of your job, or various other situations outside of your control.

You are able to just as before come to be a property owner even soon after a property foreclosure. It is not really at all as hard as you may assume. A lot of men and women do not even fill out an application for a mortgage. They imagine that because they own a bad credit score no lender will lend them the funds.

Short Sale Power Hour

Last week we chatted at length regarding mortgage insurance and dealing with mortgage insurance companies during the short sale process. In that episode, we spoke about how we were presently in a battle with a mortgage insurance business that is asking the borrower for a giant promissory note. We finally got to the COO of that mortgage insurance business and emailed him numerous times with the confidence that they are making a terrible decision.

My First Short Sale

Welcome to Group 4610′s website. We are Kevin Kauffman and Fred Weaver, Arizona’s Leading Short Sale squad. We have closed hundreds of short sales over the past few years. However, this video is not about us, it’s about you!

One of the frequent discussions we have with property owners is about missing payments. Many of these house owners are even now current on their mortgage payment. Maybe they haven’t yet experienced the decrease in their earnings or they have not completely exhausted their whole savings account thus far. They frequently want to know whether they ought to or should not miss payments.

Short Sale Power Hour

Today’s installment is on site in front of a active listing in Mesa. It seems like a good time to talk about the consultation that we have with the home owner upfront. That is probably a 30 minute subject that we won’t be able to deal with entirely today. Yet, you can get the whole discussion information if you go to one of our approaching Crush It courses.

One of the things that we hear from realtors commonly is that the seller does not want to sign the approval that says they may be pursued for the shortage. Or the seller was stunned when they found out that the mortgage insurance company asked for a promissory note.

Short Sale Power Hour

We are setting out on day 2 with Trent Chapman and we are amazed by the number of appearances Trent has had on shortsalepowerhour.com. We asked Trent to come back to talk about the Short Sale Genius Designation program. Everyone knows that we are not huge fans of designations. We have contributed on our own designation recently, but we stole that from Trent. Still, Trent has decided to do a real designation. The designation is for realtors who work with troubled properties.

Short Sale Power Hour

Today, Kevin and Fred would like to chat about making the mortgage payment or missing the mortgage payment. So, how does the squad at Group 4610 handle this situation?

As real estate agents we have to be very careful not to tell our customers to skip payments and also not to direct customers to make payments. Maybe the best thing that we can do for the customers is to have them phone the bank.

Short Sale Shift

Are there some credit penalties of a short sale?

-Yes, there are credit penalties with a short sale. Just like some loan, if you are missing payments on your mortgage you are going to have negative marks on your credit for missing those payments. Now with a short sale, lets say you miss a couple payments. You are going to have harmful marks with a short sale. Still, if you go through the entire foreclosure route you will have lots more negative marks because you will almost certainly miss added payments. In addition, when you do complete a short sale there will be something on your credit report that will say debt settled or debt settled for a reduced amount. But, if you have a foreclosure on your credit report it is going to declare debt not settled or foreclosure or something of that kind. So, you will be a good deal better off closing a short sale since the marks on your credit will be a lot less.