Mesa, Arizona Short Sale

Welcome back and thank you for visiting us today on our blog. This entire blog is devoted to the home owner who is exploring the options on what you want to do with your home. Whether you are in a situation where you can no longer pay for it or are just no longer want to owe as much as you do against your residence and want to tactically default, this blog is for you. We hope that you find plenty of great subject matter here on our blog.

Today we want to spotlight on a subject that has become very crucial in the last few months. It deals with your money and the resources that you have in your bank account. There are lenders out there that are going into home owner bank accounts and taking money to fulfill deliquencies on their mortgage.

Please realize that the mortgage you took out on your home is secured against your home and your home only. The exclusion to that rule is with the bank accounts that are with the same bank that has your mortgage. For example, if you have a checking account with Chase and your mortgage is also with Chase, Chase can take money from your checking account to compensate your mortgage.

We have had multiple customers approach us regarding this specific subject. If you are taking into consideration a short sale or have missed a payment or two, we would suggest that you shift your checking account to another bank. Close up your accounts with a bank that has your mortgage.

Because of the checking and savings account agreements they have with you, they hold back the permission to take money from your bank account.

Give us a call if you would like more information on this topic or any other topic pertaining to short sales and your options. We have effectively closed more than a few hundred short sales over the past few years and we would be thankful for the opportunity to converse 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 Fountain Hills – Foreclosure Short Sale Phoenix

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

A home owner in Scottsdale, Arizona who can not “pay the rent” has several options to stop foreclosure sale that they may not even know are available to them. The purpose of this writing is to give you some ideas as to how you can stop foreclosure sale. What are, in fact, your options? And, which of these options is the best possible scenario for you to stop foreclosure sale. If you gain nothing else from this article, please be aware that you CAN stop foreclosure sale of your home. Knowing the variety of options that are available to you as early in the foreclosure process as possible is one of the keys to help you stop foreclosure sale. Much like any other problem in life, early intervention is keenly important.
The first option that we would like you to consider when trying to stop foreclosure sale is to contact your mortgage lender directly. It is very possible that the mortgage company will be willing to hold off on foreclosure to give you, the home owner, more time to find a solution to your financial problems. This process isn’t so simple as calling them and saying “Don’t worry, I’ll pay the bill.” It will, more than likely, take a solid plan for the future to ensure that you can stop foreclosure sale. They may be willing to modify your existing loan or extend you a helping hand with a foreclosure bailout loan.
The second option to consider in the movement to stop foreclosure sale, is to get the government involved. They don’t care to see home owners in Scottsdale, AZ lose their homes and they have no business interest in your home. So, at times, they can be an aid to resolving the situation and help stop foreclosure sale. Check at the courthouse for a government entity that can help you out with this. As foreclosure becomes more and more a problem, government is much more willing to point you in the right direction or lend a helping hand to help stop foreclosure sale.
The third, and WITHOUT A DOUBT THE BEST, solution is to consider the short sale of your home. A short sale is simply the best option because it is a winning situation for you and for the mortgage lender. Basically, to stop foreclosure sale, you will sell your home for less than what is currently owed on the mortgage note. The bank, acting in the best interest of their business, will then agree to take that lesser amount and forgive the remaining balance of the note. Why would they do this you say? This short sale process gives the bank the chance to recover more money toward the defaulting mortgage than a foreclosure sale would give them. So, you have managed to stop foreclosure sale, and kept your credit in tact too. You will be primed to purchase another home, if you choose to do so, in the near future. Where as, with a foreclosure, many lenders will not borrow you money for a new home for up to seven years.
The short sale, in summation, is the best option for those trying to stop foreclosure sale. Check in to the short sale option with a real estate professional and we think you will agree.

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

With the short sell of a home, as previously stated, the bank is understanding that a loss on this transaction is imminent. So, in an effort to control the loss as best they can, lenders in Phoenix, AZ are becoming much more lenient in allowing the short sell. With the short sell there are far less hassle and headaches. There is much less to control and watch over with a short sell property too.
Negotiating a short sell in Phoenix, Arizona is not nearly as difficult as it used to be. With the rising in short sell homes, the investors of the world and real estate agents are becoming familiar with the process. That familiarity breeds knowledge and expedites the short sell process. With a short sell many parties get involved. Those parties include, but are not limited too
-the seller
-the seller’s real estate agent
-the buyer or multiple buyers (anyone who makes an offer is a potential buyer)
-the real estate agent for the buyer (or buyers if you consider the above factor)
-the lender
-the loss mitigation department from your lender
So, the list of parties is extensive. However, with a short sell, you as the buyer can make this process much smoother by finding a real estate agent who has experience with the short sell process. Experienced short sell agents have the knowledge to contact all of the parties involved in the order and timely fashion that they are needed. The negotiate everything on your behalf. This makes the short sell process, from a seller’s perspective, very hands off. And that fact alone is truly a blessing, given the fact that you are already probably up to your elbows in stress.
It is important to note that the previous paragraph is considered by most to be the most difficult challenge that awaits a seller in a short sell of their home. So, if hiring a real estate agent with experience in the short sell process eliminates your headaches dealing with all of the parties involved, everything else is easier.
Perhaps the most crucial step in the short sell process is finding the agent that can fill your needs. In many past cases, the home owner finds a short sell expert, stops paying the mortgage and simply goes about their own business. The only thing left to do is wait. So, if you can handle a little waiting and you are in financial trouble, short sell your home with the assistance of a real estate agent that has knowledge of the short sell process.
Part three, is the easy reading part of this fine short sell article. In it, we will show you the short sell process complete with examples to give you a deeper understanding of what is really going on behind this popular new method. Read on to get the juicy details.

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

Hello again and welcome to our blog. We are Kevin Kauffman and Fred Weaver, Arizona Short Sale specialists. Completing greater than 300 short sale transactions in the last couple years, we are only the most successful short sale specialists in the Mesa locale.

One of the questions that we are asked commonly is “what makes us different from other agents? Do we have links within the bank?” A couple years ago, we wouldn’t have said that our links within the bank were useful to us. However, we have come to understand that our links have saved a number of transactions in the last couple years. Our relationships with people within the lenders have helped us suspend foreclosure sale dates and get transactions approved.

If we require something urgently, we seem to be receiving some privileged treatment. Your short sale is not going to automatically be approved five times sooner than others. However, you can rest assured that our group has those key links and we recognize how to use them.

No matter which bank you are working with, Chase, Citi, Wells Fargo, B of A, or any other bank, we’ve dealt with each of them. greater than 100 banks have dealt with us in some way, shape, or form. Each bank operates another way. And likewise, every bank has a slightly different way of managing short sale packages. However, with our knowledge closing greater than 300 short sales in the last couple years, we are equipped for every situation.

We would consider it a priviledge 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 Casa Grande – Foreclosure Short Sale Phoenix

The recent world economic crises have affected almost all aggregates of the business and financial sector. Each of such has it’s own version of a bail-out plan, seeking financial remedy to ease out its gloomy scenario; the real estate sector isn’t spared from it.

The real estate sector has long had its own version of a bail-out mechanism on the perspective of a property owner. When one is affected by financial turmoil and his property is in danger of foreclosure by its mortgage lender, one would automatically look for a bail-out plan to salvage the property. Any option when in his reach would always come handy. Real estate has the short sale purchase as ready remedy for such scenario.

Short Sale Purchase is an option whereby the property owner sells his property at a lower cost than its existing mortgage value to an interested buyer preventing the property from being foreclosed by a mortgage lender. In this transaction, there are three key players which will determine its success. The Mortgage Lender, the entity by which the property is under mortgaged; the seller, the owner of the property which is being endangered of being foreclosed; and, the buyer, the interested party to acquire the said property.

The Mortgage Lender plays a vital role in this short sale purchase. Primarily, it prequalifies whether the seller is worthy of such purchase mechanism in consideration of certain criteria, such as the financial status of the lot owner who wants to avail of the purchase. In such case, the lot owner has to provide a HARDSHIP LETTER to the mortgage lender prior to availing such short sale purchase. It, likewise, determines and sets the price the property will be sold at. Usually the mortgage lender sends an appraiser to determine the actual valuation of the property. Finally, it determines whether there are available co-makers or co-debtors relative to the remaining balance of the loan mortgage value, since the property will be sold at a lower price than that of the original mortgage value.

The seller on the other hand serves as the offeror of the property to an interested buyer. As an offerer, he is expected to follow certain considerations when dealing the property to an interested buyer. One of those important considerations should include, the property price that he will be offering to the buyer should match with the price determined by the mortgage lender. Another is the capacity to pay the property price of the interested buyer. Otherwise, without such capacity will lead to failure of the purchase agreement.

Finally, as buyer of a short sale purchase, one must be keen with the property being sold as well as the seller who is offering the property. It is a must that as a buyer, one must have a direct contact with the mortgage lender. This is to actually verify key facts, such as, if the seller and property is indeed qualified for the short sale purchase. It should also be ensured that as a buyer, I am likewise qualified to avail of such purchase. Since this is an acquisition negotiation, one is also advised to conduct an actual ocular inspection of the property. This will give a glimpse of the actual condition, looks and state of the property to be acquired. This will give one an idea of what one is actually purchasing.

This bail-out mechanism of Short Sale Purchase is just one of the many options available to deter foreclosure of properties. For proper guidance for property owners, it is but prudent to consult a real estate professional to know the appropriate action for your property transaction needs.

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If you’re a property preservation, real estate services, plumbing or foreclosure cleanup company, winterization is a hot service to offer to banks and other lenders who have foreclosed homes. This is especially true right now.

Winterizing More Than a Hundred Homes

According to the October 2008 KAALTV article, Winterizing Foreclosed Homes, in Austin, MN a local plumbing company winterized more than 100 homes, and expected things to get busier as foreclosures continue to escalate.

Why Banks Like for Foreclosed Homes to be Winterized

When a home is foreclosed on, it can sit vacant for months – even over a year in this economy. When a home sits vacant, especially during the winter season, pipes can burst causing water to flood.

Even if the water is turned off, the water that sits in the pipes can cause floods or damaging leaks. And, what follows floods and/or water damage? Mold.

Now imagine this sitting for weeks or months with no one being aware of it.

This is why lenders pay plumbing companies, property preservation companies, real estate services enterprises and/or foreclosure cleanup companies to winterize properties. In the long run, it costs them less money.

If you’re a foreclosure clean up company, winterization is an easy service to offer. And, it can be quite lucrative because it is one of those services that banks don’t hesitate to pay for, unlike some other services.

So, you may be wondering, exactly . . .

What Is Winterization?

Basically, winterization is protecting a home while it is unoccupied for long periods of times. A lot of this has to do with preventing water from entering a home and pipes from bursting. Another equally important component is dealing with the heating and cooling system.

Following are some things that should be done to a home during the winterization process.

Shut Off Water: This should be done at the main valve or at the inlet to the meter. Once the water is shut off, the meter should be capped – preferably by a professional – so that it can’t be turned back on.

Drain Water Heater: Remember, even if the water is turned off, if something happens, water left in pipes or a water heater can still cause flooding.

Drain Pipes: For the same reason as above, this should be done.

Open Faucets: This allows them to drain completely.

Drain Toilets: Be sure to get rid of any excess water left in the tanks; wipe them dry.

Turn Off Heating System: If you have an electric system, make sure it’s turned off at the circuit breaker. This prevents the burning up of heating elements.

Turn Off Gas & Electric: Call your local electric company to make sure this is done.

Check for Faulty Faucets and Broken Pipes: If damage is found, make sure it’s repaired so that when water is turned back on, there are no leaks.

This is by no means an exhaustive list, but it gives you an idea of what goes into winterizing a home.

HUD Payment Guidelines: Home Much Do Banks Pay for Winterizing a Foreclosed Home

If you’re a foreclosure cleaning company and want to offer this service, what you will be paid depends a lot on what HUD pricing guidelines are in many cases. This is because many bank-owned properties fall under HUD.

For example, in the state of Georgia, HUD will pay anywhere from $100 to $460 for winterizing a foreclosed home, depending on the type of heat it has (ie, dry heat, steam heat, wet/radiant heat).

As you can see, this can be a very lucrative service for any foreclosure cleaning company to offer – and it shouldn’t take more than a few hours (or less) for a skilled professional to do.

May be reprinted with the following, in full: Learn everything you need to know about how to price winterization services — and how to price foreclosure cleaning jobs in general — in The Pricing Guide for Foreclosure Cleaning & Real Estate Service Businesses: How to Price Jobs for Profit, which can be found at Start-a-foreclosure-cleanup-business.com.

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In order to stop foreclosure sale in Scottsdale, AZ, you must take immediate action as a home owner. To many people simply overlook this option in the process of trying to stop foreclosure sale. All to often we believe that trying to stop foreclosure sale is an uphill battle that we can not win. That just is not true. Finding a bank in Scottsdale, Arizona to give you a loan that will cover your mortgage payments is sometimes an option for people, but it is tough to get a loan when you can’t pay another loan.
For most people who own a home that they want to stop foreclosure sale on, selling the home is the best chance they have of them trying to stop foreclosure sale. It is not well known to most people, but you do not need to worry, in most cases, that the sale price of your home may not pay of the amount of the loan that owe the mortgaging company or mortgage lender.
Perhaps you have landed on tough financial times and it is now clear to you that the home you have is no longer the home you can afford. So, through this new insight you are trying to figure out how to stop foreclosure sale. Many people who are in that situation do not think that they can sell their homes because the value of their home is now less than the loan amount because of the currently stinky economy and fluctuating property values. The economy, your current financial situation, and other factors are sometimes not things that you have any control over. However, we want you to know that you DO have control over whether or not you can stop foreclosure sale of your home. To the inexperience eye, it would appear that if you sell your home at a price that is far less than the price you bought it at, you will have TWO tragedies on your hands. First, you will not have a home. And second, you will still owe the bank a pile of money because the sale of your lesser valued home will not cover your remaining debt.
Enter into the picture a fairly new strategy for dealing with this dual tragedy, the short sale. The short sale is a great way to deal with both tragedies and stop foreclosure sale of the home. With a short sale, you can sell the home for less than the mortgage note and work with the bank to accept this offer while forgiving the remainder of the mortgage loan. In this way, you can avoid both tragedies, because you get yourself free of the mortgage loan and by selling the house, instead of having to stop foreclosure sale or worse yet, actually have your house foreclosed on, you can buy another house in a fairly short period of time.
Many of the questions as to how and why this works can be answered by a real estate expert. The basics of it are as follows…
-you can not afford the home you are in and you do not want to have the tarnished credit that comes with bankruptcy or foreclosure
-the bank will get more money and have fewer administrative fees from you selling the home than they will if they have to foreclose and sell or deal with you trying to stop foreclosure sale.

Hello and welcome to our blog. We are Fred Weaver and Kevin Kauffman, Arizona’s premier short sale specialists. We have completed hundreds of short sales and we would like for you to make contact with us to learn more.

We wanted to talk to you today concerning what is going on in the short sale business now. In particular, can foreclosure sale dates be delayed and as a home owner when should you start working with us in a short sale deal.

Lately, some of the investors do not want to reschedule foreclosure sale dates as much as they have in the past. A year ago, if we were chatting, I would have informed you that we could get your home on the market and acquire an offer in 60 days allowing your foreclosure sale date to be delayed. To be really honest, that isn’t happening any longer.

If you are in a spot where you are 60 or less days from foreclosure, please call us. We aren’t saying that your home is going to go to foreclosure. However, if you have not missed a payment up till now or you are merely a payment or 2 behind, please make contact with us quickly. The quicker 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 associations within the lender and can fruitfully complete your short sale. The banks do want to help you out, but you have to make contact with us sooner rather than later.

Thank you for joining us now. Please fill out the form here on our website so that we can be in contact with you soon. Have a good 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 Fountain Hills – Short Sale Arizona

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

We would like to chat about a touchy issue these days. Should you short sale your house? The strategic default, or as we refer to it, the business decision, is a very hot issue recently. You may be a house owner out there that is upside down on his mortgage. For instance, you might owe $400,000 on your mortgage, but your house is only worth $200,000. You might be in a situation where you are getting ready to stop working or you are preparing to move. Maybe you have the ability to pay your mortgage, but you are doing this at the determent to your family. Basically, you are throwing money at a bad asset or investment.

We have had numerous 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 choices that house owners are taking into consideration. We won’t tell you what you ought to do, but you ought to make the right decision for you and your family. A lot of people believe that they have a moral responsibility to make their payments.

While that is a valid point, there are a few things in your mortgage contract that give you the right to stop making payments. Likewise, the lender has the right to foreclose or allow a short sale. You have to assess what is most important to you. If that means that you have to walk away from your house with a short sale, you ought to strongly reflect on it.

There are a few things you must always keep in mind. This is a private decision for you. Don’t let anyone to tell you what is right or wrong. Your mortgage is a contract that has choices for you to contemplate. Look at what your house is worth at present. How long will it take you to get your mortgage back to even? There are consequences to each option that you have. E-mail us today and we can help you weigh 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 Avondale – Foreclosure Short Sale Phoenix