If Considering a SHORT SALE, SPECIALIST Is Needed
July 28th, 2010
A short sale transaction is when a financially distressed home owner facing foreclosure gets approval from the bank to sell off their property for less than what is the owed on the mortgage note. Short sales are used for two reasons primarily. The help the home owner to keep from damaging their credit score and it ensures that the house they are living in won’t get foreclosed and they will be thrown into the street. If you want to short sale you should find yourself a short sale specialist.
With america’s economy and real estate market in Phoenix, Arizona in the toilet, many more people are using the short sale to avoid that dreaded foreclosure. So, there are many people searching for a short sale specialist. The execution of a short sale must be ok’ed by the bank or mortgage company that holds your loan. With the a short sale specialist on your side, he can help you get the approval, and many times at a discount. Lots of real estate investors that I know look for short sale specialist to help them find real estate bargains. But for you, the home owner in trouble, you need the short sale specialist to help you sell your home before foreclosure. The short sale specialist can help any home owner that needs to short sell their home quickly.
It is important to note now in this article that the bank in Phoenix, AZ wants you to sell your home too. This is so that they won’t have to foreclose and take a loss on your property.
If the bank wants you to sell and you need to sell this is why a short sale specialist is good for you. The bank and you, the home owner, both have the need to sell the home before you get a foreclosure notice and the sheriff throws you out of the house. Because of all of the tricky processes in the short sale process, a short sale specialist can be very helpful to work with.
A short sale specialist can help you in lots of ways that we will mention now. A short sale specialist will go with you to the bank to ask for their approval to short sell home because they know what to say. A short sale specialist has knowledge of all of the paperwork that needs to be filed and information that the bank needs to see why you are short selling your home. These short sales, as we said, are a tricky process. A short sale specialist will put the house out on the real estate market and find a buyer. A short sale specialist can relieve your stressful days and nights by negotiating with the bank to get your sale price accepted as payment in full. Payment in full is VERY IMPORTANT.
In a short sale, the home is almost always sold at a lower price. So, the your mortgage loan will not be paid of in full. However, the bank can either issue one of two different decisions. They can say that they accept the payment as a payment in full and forgive you the rest of the money owed or they can come after you in court with a legal process and make you repay. That is why a short sale specialist is important. There are not many real estate agents that are short sale specialists. So, you should start trying to find one right away. Find a short sale specialist in your area today!
Watch Kevin Kauffman and Fred Weaver of Group 46:10, Short Sale Specialists, on the daily Short Sale Power Hour.
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Fred Weaver is a founding co-owner of Group 46:10. He has been working in the financing/real estate business for over 7 years. Fred began his real estate career by working for a large wholesale bank as a processor and rate/lock specialist for home mortgages. After 2 years in the business, Fred transferred from the banking side of home loans to the mortgage side. While on the mortgage side of financing, Fred gained experience originating mortgages and processing files for Morgan Capital of Arizona, Inc.
Kevin is a founding co-owner of Group 46:10. He began working in the real estate business in 2007 after spending 8 years working in the finance industry for companies such as Bank One, Green Tree Financial, & GE Capital.