Will My Credit Be Affected By Doing A Short Sale?

Posted by webmaster on May 20, 2012 in Uncategorized | 0 comments

Thanks for joining me, I'm Kevin Kauffman, co-owner of Group 46:10, one of the best real estate and short sale businesses in Glendale; in fact, we are one of the best short sale businesses throughout the nation. I am here to talk to you today about short sales and credit; it's currently one of the most commonly misunderstood things in the real estate world. I have homeowners approach me on a regular basis saying they've heard that if they do a short sale it is going to drop their credit score by 100 points and if they foreclose it'll decrease by 200 points. I want to clear something up for you: there is no formula or calculation to tell you how much your credit score is going to drop. Everyone's situation is different. It is not even the short sale that impacts your credit score. It does affect your credit report, meaning the writing and notes on your credit report, not your numbers. What hurts your numbers are things like missed payments. If you want to decrease the impact to your credit score, it's essential to start and complete the short sale process immediately.

That is why it is important to work with a team like ours, Group 46:10, we have over a 90% success rate with short sale completions. We actually complete short sales in about 3-4 months at this time. Most realtors are taking 6-7 months to get their short sales finalized, but not us. Give us a call at 602-492-4610 and let us know what we can do to help you. We'd love to talk to you about your underwater mortgage and what we can do to relieve you of your distressed home and get you working towards a better financial future. Please contact us with all of your short sale questions today.

For more information on short sales and how to avoid foreclosure, visit the Group 46:10 blog or you can also contact the Group 46:10 team and get started today.

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

Should I Get Legal Recommendation For My Short Sale?

Posted by webmaster on May 18, 2012 in Uncategorized | 0 comments

Hi, my name is Kevin Kauffman and I'm with Group 46:10, Glendale's primary short sale team. You most likely found this blog as a result of you're looking around the internet for short sale data and one thing that is probably going through your mind is must you get legal advice. I have to tell you it is not a bad idea. I actually think that authorized recommendation is a very good concept for someone in your situation. The truth is, we advise all of our clients to go forward and acquire authorized recommendation as a result of I believe that is the best route you probably have any lingering questions at throughout the process and what to anticipate from a legal standpoint and what your liabilities are.

We can clarify every thing actually well. We are able to share with you our expertise of having closed well over 600 short sales within the last couple of years. We are able to clarify all that to you, however on the end of the day, you could not feel comfy together with your grasp and you might want to discuss to an attorney. We now have actually partnered with one of many prime local law firms here within the Glendale area to supply free advice for free of charge to you in the case of doing a short sale when you list with us.

Again, I'm Kevin Kauffman with Group 46:10, Glendale's number one short sale team and we're right here to help. If you need more info on that, give us a call 602-492-4610, or you may as well fill out a form on our website. Not only can we discuss to you about our expertise with short sales, but we are able to get you in front of one of many city's top attorneys to speak to you about your scenario and it would not even cost you a penny. This is one of the advantages to working with Group 46:10. Give us a call at this time and we look ahead to speaking to you soon.

For more information on short sales and how to avoid foreclosure, visit the Group 46:10 blog or you can also contact the Group 46:10 team and get started today.

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

How Long May It Take To Short Sale My Phoenix Region Residence

Posted by webmaster on May 17, 2012 in Uncategorized | 0 comments

Hello everybody my name is Kevin Kaufmann and I'm the co-founder of the nations main short sale team, Group 4610. My business partner Fred Weaver and I use our blog to help educate Glendale owners on their choices for avoiding foreclosure on their underwater mortgage. In the event you can no longer afford your mortgage, or if a short sale makes essentially the most business sense, stop by my website or contact me directly to discuss all of our Glendale real estate options.

Right now I wanted to talk with you about how long it could take to finish a short sale on your house in Glendale. This can be a question I hear from householders fairly often and thankfully there is a fairly simple answer to understanding the short sale timeline. A year ago I might have instructed you anywhere from seven to eight months but present day our team is closing short sales in four to 5 months on average. Because of the short sale market heating up in Glendale and our short sale process continuing to enhance we have been capable of make great strides in getting fast approvals. This whole process begins by collecting all of the documents you will want as a way to submit a short sale file to your lender. Once we have your paperwork our group will start advertising your property over a one to two week span. As soon as we find a purchaser we can have your file negotiated in just over 45 days.

As soon as your home completes a twenty one day close of escrow interval we're only looking at three and half months from starting to end. So if you are contemplating a short sale please contact our crew to get your file approved quickly. Thank you so much and have an amazing day.

For more information on short sales and how to avoid foreclosure, visit the Group 46:10 blog or you can also contact the Group 46:10 team and get started today.

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

Short Sales 101 – What is a Short Sale?

Posted by webmaster on May 17, 2012 in Short Sale Arizona - Phoenix - Queen Creek | 0 comments

Given the current financial crisis, it would seem that most everyone has heard the term 'short sale', yet in my day to day work, I find that very few sellers really have a true understanding of what a short sale is or what it entails.

What You Owe Versus What Your Home is Worth

Sellers will find themselves in a short sale situation if they owe more on their mortgage or mortgages than what their home is worth in their current market. In other words, there will not be enough money from the sale of the property to pay off the underlying loan(s). In the case of a shortage such as this, the seller would need to come to the closing with enough cash of their own to satisfy the lien or liens in order for the sale to close. This can be a really frightening and downright impossible situation for someone who must sell their property or face foreclosure.

Can Anyone Sell Short?

Being allowed to sell a home for less than the outstanding lien(s) is up to the lender. In order to be considered for short-sale eligibility, however, a seller will have to prove a hardship such as divorce, medical expenses, job loss, death of family member or some similar situation. In addition, the sellers must be behind in payments and the sellers' expenses must exceed the assets or income in the family.

Simply owing more than the home is worth--yet wanting to sell--is not a reason to apply for a short sale.

Is it Really that Hard?

Short sales are very time consuming, require a great deal of paperwork, and are not always guaranteed. And in today's market, a short sale in my area of San Diego is taking an average of four to six months.

Navigating the lenders' maze can be tricky and fraught with frustrations as well. Getting through to the key people in the appropriate departments is pivotal in possibly preventing foreclosure. In addition, each lender will have its own paperwork requirements. Getting that package from the bank and completing the required documents is essential to even being heard. By hiring an experienced negotiator who works with most, if not all, major national banks, he/she will know what is required by that bank in advance and has forms on file for the sellers use. By knowing how to complete the necessary forms and doing so in a timely manner, the short sale approval process could be shortened by perhaps months.

While it may be easier said than done, it is important for sellers facing a short sale or potential foreclose to consult with an expert. There are resources available to the public such as the Housing and Urban Development website, free credit counseling services, and qualified attorneys and brokers who have had extensive experience in the short sale process. Likewise, there are brokerages who have not only handled hundreds of these transactions but also work with approved end-buyers who understand and will not further complicate the process.

The important thing is not to delay. If you find yourself in financial distress, seek help.

Laura Garrison is a broker and a Certified Residential Specialist who has successfully handled hundreds of short sale transactions for both sellers and buyers. Please visit http://www.odyssey-properties.com for a free consultation and further information.

Article Directory: EzineArticles http://ezinearticles.com