Hello and welcome to the Group 4610 website. 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 higher success rate and more skill than almost any other agent in the Arizona Short Sale world, we are the best short sale realtors in the area.

We would like to talk about a touchy issue these days. Should you short sale your home? The strategic default, or as we refer to it, the business decision, is a awfully hot issue recently. You may be a home owner out there that is upside down on his mortgage. For illustration, you may owe $400,000 on your mortgage, but your home is only valued at $200,000. You might be in a position where you are getting ready to stop working or you are preparing to relocate. Maybe you have the capability to pay your mortgage, but you are doing this at the determent to your household. Basically, you are throwing cash 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 choices that home owners are considering. We won’t tell you what you ought to do, but you ought to make the right decision for you and your household. Lots of people believe that they have a ethical obligation to make their payments.

While that is a valid argument, there are some things in your mortgage agreement that give you the justification 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 home with a short sale, you ought to strongly reflect on it.

There are a few things you ought to always remember. This is a private decision for you. Do not let anyone to tell you what is right or wrong. Your mortgage is a contract that has choices for you to mull over. Look at what your home is worth now. How long will it take you to get your mortgage back to equal? There are consequences to each alternative that you have. Contact us today and we can help you evaluate 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 Gilbert – Mortgage Short Sale Arizona

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

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

One of the regular discussions we have with house owners is about missing payments. Many of these house owners are even now current on their mortgage payment. Possibly they have not yet experienced the cut in their earnings or they have not entirely exhausted their whole savings account so far. They often want to know whether they ought to or ought to not miss payments.

Realize a couple things about short sales. It is possible to close a short sale without missing payments. Yet, with the regularity that short sales are being completed, the banks are not even considering a short sale until the house owner is missing payments. We think that the banks have made that change since they do not want the house owner to take benefit of a short sale and still elude the harmful effects of missing payments. Furthermore, it is certainly a way for the banks to keep short sale numbers down. There is not a single lender in the nation that has enough workers to deal with the short sale folders they already have.

We are never going to tell you to make or miss your payment. Yet, we can tell you that the lender will want to see you miss some payments before they decide to even look at your short sale. Most of our customers are okay with the credit damage and knowing that they can get back into a house in a couple years. We will talk about the decisions that are in front of house owners in a future episode.

Fill out the form on our website so a member of our squad can have a short talk with you. Thank you for joining us now. We will talk with you again shortly.

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 Peoria – Foreclosure Short Sale Phoenix

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

I had a recent situation where a friend was going through a short sale and wanted 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 thoughts to pass on to her short sale agent. Ultimately, if you are having problems escalate to somebody higher up at the bank.

After getting off the phone with her, something dawned on me. I should have told her something different. It’s not about what we do. Don’t get me wrong. We have great strategies and we have great associations inside the bank. When we ask for something, they are conscious of who we are and they respond to us. This happens because they know that we complete short sales. We aren’t there to waste anybody’s time.

Ultimately, our success is a unequivocal result of our mindset. Short sales are tricky transactions. They are not like the conventional real estate business. Finding answers to problems, no matter the circumstances, is what we do best. Our deepest committment is our aim and, in turn, your consequence.

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 completed effectively. We have a mindset that we are going to get the deal completed and help you avoid foreclosure. There are problems that arise in this process all the time. Yet, we choose to conquer those problems.

If you have questions, get them answered here Maricopa – Short Sale Company

We are revisiting a topic that we talked about a month ago regarding BPO disputes and we implied that the market may change a bit regarding BPOs. Ultimately, we thought that the number of current listings was going to move up and that sales were going to diminish. We united all of this theory into the thought that BPOs were going to get messed up in this progression.

Specifically, the BPO challenges are coming from the bank valueing your house higher than it is really worth. When you have had a property on the market for numerous months and had no showings, you realize that the property is worth less but the lender does not always realize that.

This appears to be occuring more often now. So, a few of the tips that we have given are to work rigorously to back your BPO disputes to the lender. Use sold comps and current REO listings to do this. Take a peek at tax records to acquire this information. As we all recognize, the price of the current listings tells us where the market is going. If the price of homes on the current market are low, the market is going downward.

The problem is that it takes a little for the lenders to catch up to this variation in the market. In order to help you contest BPO values with the lender, we have another device that you ought to think about.

There is a company out there that many of you are familiar with and the lenders are familiar with it as well, specifically, Lender Processing Services. LPS does a lot of stuff but they have a device that we, as realtors can really use. Here’s how it works.

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

The reason we love this report is because it is done by a third party. Basically, you can not manipulate it and we believe that it holds much more weight with the lender. We have had huge success utilizing it over the last few months. This is a useful device. We highly 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 Tempe – Arizona Short Sale Specialist

A very principal topic that has come up in the last couple weeks is our focus today. We’ve seen this trouble pop up over the last couple weeks and we want you to be able to dodge it.

Make certain that the bank you are working with on a short sale is not the bank where the property owner has a checking account. We have now had multiple people over the course of the last couple weeks that have approached us on this topic. Both current clients and soon to be clients have been telling us that the have missed payments and the bank has taken the money out of their bank account without their permission.

We believe that the note you signed for the mortgage is only secured to the property. It is not secured to the checking account. Nevertheless, we believe that the lenders have revised or applied their checking account terms of service to get their money. Basically, 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 thieving it without any permission.

We do not know if this is respectable or criminal, but it is occuring. So, there is a route around this. Ask your property 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 shut down those accounts and get the money out. It is very important that you know this as short sale agents and that you share this information with your clients.

Get the word out to other teams and your clients. Don’t let this become a predicament for the people that you are attempting to aid through the short sale method. Also, please remark below if you have seen this happen already. Let us know what lenders are using this trick.

One more thing to note, we will be in Las Vegas on August 25th with our Crush It short sales session. So, obtain your ticket 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 Chandler – Arizona Short Sale Specialist

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 now. Last year, Derek and his family moved 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. Firstly, you can organize your company much better with short sales than with REOs. There is a elevated profitability in short sales that comes with that control. The average commission on REOs for Derek has only been roughly 1.5-2% with all of the overhead involved. Nevertheless, Derek enjoys making more capital earning 3% with short sales.

Derek is a go getter. He can close any deal and has proven that over his time as a short sale agent. There are so many different resources that you can use to fight your way through a short sale. A lot of lenders will tell you that their guidelines is to not pay full commission to real estate agents. Nevertheless, those rules can always be adjusted.

For instance, many lenders will try to slice the commission if the realtors are from the same broker. Keep in mind that the lenders are not in the real estate industry. So, they do not necessarily understand the real estate industry. You, as an agent, need to help them recognize the real estate industry sometimes to get the commission that you warrant.

With REOs, the lender will always disburse six percent. They will disburse for a multitude of fees with an REO. So, why would you as an agent allow them to pay a cut-rate commission with a short sale. Remember that they can attempt to discount your commission by one percent or they can incur an extra 10-12% from taking a property to foreclosure.

Don’t allow the bank to slice your commission. Escalate up the chain of command if you need to. Occasionally you have to help the lender understand the real estate trade and the banking industry.

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 Paradise Valley – Mortgage Short Sale Arizona

We have brought a very renowned man back to Short Sale Power Hour. Rick Geha has joined us again today. For those who do not know him, Rick had the honor of being on SSPH in February. Rick has been in real estate for more than 30 years now. Rick is a national orator for Keller Williams. He is a master faculty member who goes all over the country. He has six Keller Williams teams.

Rick thinks that the main part about lead generation is mindset. What is keeping you from lead generating? Every realtor understands that creating some sort of lead generation activity on a daily basis will get you results. Nonetheless, there is such a big gap between the people that recognize this and the people that achieve this. That act, moving from what you recognize to actually doing it, starts in your head.

It frustrates Rick since he has been seen the outcome of not doing lead generation regularly. Rick learned some interesting things. First, working on you becoming a better human being is the best way to assist your company. Surround yourself in life with citizens that see you as bigger than you see yourself. Surround yourself with citizens who will challenge you to be better than you already are.

Lead generation comes from you being so dedicated to what you want in life that nobody will impede you. Are you willing to do what it takes? Rick is continuously reminded about how thrilling life can be if you are prepared to do the dull fundamentals and do things that are uncomfortable.

When your whole life is spent making sure that the group around you are taken care of, without regard to what they will give you back, you will be a lead generation system. If you enjoyed today’s installment with Rick, post a commentary below this and let him know that he ought to create a daily video blog of his own.

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 Avondale – Foreclosure Short Sale Phoenix

Let’s get the announcements out of the way at the outset. Friday, August 13th is the date for Kevin and Fred’s Crush It Short Sales class. The price goes up to $99 after midnight August 10th. So, get signed up today. Furthermore, please bear in mind that we want you to film your own Short Sale Power Hour video. We want you to communicate one of your most awful, yet overcoming short sale stories. Put it into a film that is less than ten minutes. Place it on YouTube and present it to us.

Without hesitation we are on to further topics, that is, FreddieMac. The conversations that Kevin has been having with FreddieMac lately have been ridiculous. They have requested a $30,000 promissory note from one of our clients. The problem is that the home owner has a real hardship. The loan is a purchased money loan and the offer is for more than what they believe the home is worth. Furthermore, they are the only lien holder and the PMI company by now signed off on the transaction without asking for a promissory note.

This homeowner has a real hardship. He is in the education field and had to relocate forty miles away to rent a new home while they couldn’t sell their old home. So, they have been making payments on two properties for a few years now. There is no better example of an genuine hardship. The home owner has been advised by his lawyer that he ought to walk away from the home and let it go to foreclosure if he can not short sale the home.

FreddieMac has asked for 1.8 billion dollars in assistance from the gov’t because they continue to run their business into the ground. If FreddieMac turns this short sale down, Kevin and Fred may have to go to the Mortgage Insurance company that is insuring the home right now. It will cost the MI company loads more money if the home goes to foreclosure.

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 Pre Foreclosure – Arizona Short Sale Specialist

Another Forgettable Friday is upon us. At present, we are joined by Trent Chapman, Short Sale Genius. He has got a forgettable story for us today.

Trent had a short sale folder that went to foreclosure. This occurred because Trent’s office forgot to call the trustee to make sure that the foreclosure had been deferred. This didn’t happen. So the home went to foreclosure.

Nevertheless, Trent was able to withdraw this foreclosure. simply to make sure that you heard right, the bank pulled the residence from foreclosure and gave it back to the residence owners. Trent had to go to the servicer and had a printed email in which the servicer had said that the bank deferred the foreclosure sale.

I suppose that we can safely say that lenders do not want to foreclose on homes. If they are rescinding foreclosures, clearly they do not want to foreclose on a residence. The average foreclosure takes ten months to complete. Bear in mind that the bank always gets more cash with a short sale than with a foreclosure sale. Kevin and Fred have also had a foreclosure cancelled. This is simply one more reason that the lenders do not want to foreclose.

Also, we have a innovative idea for all of our listeners. We would love YOU to be on short sale power hour. We wish for you to disclose your stories of bizarre short sale troubles and deals. The lone criteria is that you have to do the opening and you have to do the closing. If you do not do the clapping and chanting, we just can’t make use of your video. So, get those video submissions in to us today! This is your opportunity to be on the world famous Short Sale Power Hour program! Everyone has a bizarre story. We want you to communicate your bizarre story with us!

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 Short Sale Arizona

Today’s episode is on site in front of a current listing in Mesa. It seems like a fine time to talk about the talk that we have with the property owner upfront. That is probably a 30 minute subject that we will not be able to cover fully today. Yet, you can get the whole talk information if you attend one of our forthcoming Crush It courses.

One of the things that we listen to from realtors recurrently is that the seller does not want to sign the approval that says they may be pursued for the deficiency. Or the seller was upset when they found out that the mortgage insurance group asked for a promissory note.

As an realtor, you have to be able to talk with your property owner and let them know what to expect at the end of this transaction. The realtor needs to explain to the property owner that there is not a single lender in the nation that accept the short sale and not take other financial aspects of the transaction into consideration.

When a property owner sees that they will receive a 1099, they become alarmed. It is vital that you coach your clients so that they know what to expect. To avoid problems in the end, you must do the talk upfront. Spend more time upfront and you will make the conclusion a great deal smoother.

Most of these details are obtainable in our Financial package on our website. The packet contains all of the tiny facts that you need to remember and some that you always overlook.

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 Casa Grande – Mortgage Short Sale Arizona