peoria short sales: Thinking About Short Selling Your Upside Down Peoria AZ Home? - 01/31/13 06:42 AM
Peoria, AZ – People often wonder why their lender will release their debt in a short sale. Most lenders don't like to release the debt. But, they agree to do it because they know that policy nets them more money. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. They net more because a home usually sells for more money as a short sale versus after it has been foreclosed upon. Let's go thru a few examples. See the home in the top picture? You can see that it is good shape. Most short sales … (0 comments)

peoria short sales: Strategic Default Or Glendale AZ Short Sale. Which Is Better For You? - 09/28/12 03:05 AM
NorthWest Valley AZ –
 If you are upside down, then you might be tempted to walk away. You'll mail your keys to the lender and move out. Before you move out, I have some important information to tell you. You should stay in the house for as long as possible.
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 In fact, the average length of time you can live for free is 261 days. That number is a statistic I've seen lots of people throw around. I just tried to Google the official source, but … (0 comments)

peoria short sales: How Do I Get Back On My Feet After A NorthWest Valley Short Sale? - 09/05/12 08:55 AM
NorthWest Valley AZ –
 It is very stressful to be upside down and facing foreclosure. You are worrying about everything. You find yourself thinking, "When is the bank going to kick me out? "How will I pay back that huge debt?" "When will I ever be able to stop worrying about money?" "I remember when I did not worry about money. How did I do that?" All those thoughts and more run through your head.
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 A short sale helps you stop worrying. Most people find a … (1 comments)

peoria short sales: How To Write A Hardship Letter For A NorthWest Valley Short Sale - 08/30/12 07:16 AM
NorthWest Valley AZ –
 A hardship letter is one of the most important items in a short sale. This is your opportunity to explain why your lender should approve your short sale and let you walk away from the debt. In clear terms, you need to layout exactly why you can no longer afford to keep the property.
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 Under no circumstance should you say any of the following. * "I don't want the house anymore." * "It doesn't make sense to keep the house because it … (0 comments)

peoria short sales: Why A NorthWest Valley Short Sale Is Better Than A Deed-In-Lieu - 08/23/12 07:39 AM
NorthWest Valley AZ –
 If you are facing foreclosure, then I'm sure you've heard of a Deed In Lieu of foreclosure. Some people say it is a great way to avoid foreclosure. Actually, all it does is accelerate the foreclosure process.
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 Here are the most common myths about a Deed In Lieu.
  Common Myth #1: If I do a Deed In Lieu, then I will not owe the lender any more money. A Deed In Lieu is similar to a No Contest Plea. The judge … (0 comments)

peoria short sales: How A NorthWest Valley Short Sale Can Stop Foreclosure - 08/21/12 08:38 AM
NorthWest Valley AZ –
 There are many reasons to use a short sale to stop foreclosure. If you want to keep your home, then you need to attempt a loan modification. If you do not want to keep your home, then you need to consider your options. There are 3 options if you do not want to keep your home.
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 Option #1: Do nothing and the lender forecloses on the house. Option #2: Deed in Lieu of Foreclosure. I don't recommend this as detailed in yesterday's … (0 comments)

peoria short sales: Glendale, AZ Short Sale? Don't Let Your Lender Levy Your Bank Account - 08/21/12 08:33 AM
NorthWest Valley AZ –
  I have feared this for a long time. But today I found out that it is actually happening. Here's the story. Someone is short selling their home. The mortgage is with ABC Bank. They happen to have their checking or savings account at ABC Bank.
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 They stop paying on their mortgage. They thought their checking account was safe because it is a different account from their mortgage. Then one day their debit card stops working. "Hmm, this is weird. I know … (0 comments)

peoria short sales: Is There Hope For Your Credit After Your Northwest Valley Short Sale? - 08/10/12 06:54 AM
NorthWest Valley AZ –
 Most people think that a short sale will be the kiss of death to their credit. That is the one big advantage of a short sale over a foreclosure. Anything and everything bad on your credit can be fixed. It's called the dispute process. In my opinion, many lenders incorrectly report credit on consumers all the time.
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 What if the consumer doesn't understand how the process works? The consumers suffers unjustly! Just like the banks can work the system for their benefit, … (0 comments)

peoria short sales: Glendale Short Sales: Make Harassing Debt Collector Calls Go Away Now - 08/08/12 02:01 AM
NorthWest Valley AZ –
 Many people considering a short sale are being harassed by debt collectors. They call even though you tell them to stop. They call even when you tell them you don't have any money available to pay them. They call your relatives even when you tell them to go away.
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 When will they realize that you can't pay them and just back off? Fortunately, there is some good news. We have a new strategy in the fight to avoid being harassed day and night … (0 comments)

peoria short sales: How To Solve This Common NorthWest Valley Short Sale Problem - 08/06/12 07:39 AM
NorthWest Valley AZ –
 Here is the most common problem that arises with short sales. There are multiple mortgages or liens on the property. Any of the mortgage companies or lien holders have the right to veto the short sale. For example, we had a short sale with a first mortgage, a second mortgage, and a third position lien.
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 The third position lien was an old credit card judgment. It had to be paid off to sell the house. The first mortgage was only willing to … (0 comments)

peoria short sales: Why You Shouldn't Be Embarrassed To Short Sale Your NorthWest Valley Home - 08/01/12 03:30 AM
NorthWest Valley AZ –
 Many people are embarrassed to be short selling their home. They think that a short sale is somehow dishonest or shady. Nothing could be further from the truth. Most of the homeowners selling their upside down home have never missed a payment before They paid their bills on time.
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 Then the real estate market crashed and the found themselves owing more on their home than it is worth. For years everyone had told them that couldn't happen. Many also lost their job … (1 comments)

peoria short sales: Short Sale Myth: You Need to Miss a Payment Before You Can Short Sale - 07/11/12 08:16 AM
NorthWest Valley AZ – It is thought that lenders tend to permit short sales only when and if a borrower has missed a payment. This is not true. Lenders also take into account other hardships the borrower may be encountering such as a divorce, job transfer, relocation, etc. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. No lender will consider a short sale just because a borrower has missed a payment. The lender also looks at the borrower’s financial status including tax returns, budget, bills, income, etc. After reviewing that documentation they decide whether … (0 comments)

peoria short sales: Another Reason To Hire An Experienced Glendale AZ Short Sale Realtor - 06/15/12 06:59 AM
Glendale AZ –
 The way that most lenders handle short sales is very weird. They have a strange policy of demanding that all home buyers close on their home purchase within 30 days of them approving the short sale.
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 The sad truth is that you can only push home buyers so hard. On a traditional sale many people wait 2-6 months for their home to sell. Most buyers agree to close within 30 days. The biggest reason for a closing delay is because the lenders want … (0 comments)

peoria short sales: Are Glendale AZ Short Sales Really A Nightmare? - 06/11/12 04:04 AM
Glendale AZ –
 I read a blog post by another agent the other day. He had a long story about a short sale that he worked on that was so difficult. He said the lender sent him a form on Friday. On Friday afternoon they demanded that he send them back a form signed and notarized by the sellers. He sent it back to them on Saturday. On Monday they closed the short sale file because they hadn't received the form within 24 hours. Apparently they didn't check their faxes over the weekend.
 Click here to discover how other sellers successfully … (0 comments)

peoria short sales: A New Strategy To Make Glendale AZ Short Sales Faster & Easier - 05/26/12 04:15 AM
Glendale AZ –
 Yesterday we discussed a serious problem affecting the short sale industry. Today, we are going to lay out a strategy that the short sale sellers can use to help solve this problem.
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 The biggest reason that this problem can continue is because the realtors assisting you never receive a copy of your home's valuation. If we had copies of those valuations, then holding the people accountable would be much easier. The banks won't give us the information. And we really don't have the … (0 comments)

peoria short sales: Will My Lender Sue Me After A Glendale AZ Short Sale? - 05/16/12 02:42 AM
Glendale AZ –
 Many people are concerned about a potential lawsuit after a short sale. Many people ask us, "My lender just lost $150,000. Aren't thing going to be angry that they are losing that much money? Won't they sue me?"
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 The good news is that very few people will get sued. The vast majority of all short sale sellers will be released from the debt as a condition of the short sale. We have reviewed hundreds of short sale approval letters and are familiar with … (1 comments)

peoria short sales: Will I Have My Wages Garnished After A Gledale AZ Short Sale? - 05/15/12 08:25 AM
Glendale AZ –
 Many people are concerned about a deficiency after a short sale. They are afraid that their bank may garnish all of their wages. It's scary to think that at any moment your bank could grab every dime you make and leave you broke. Most people short sell their house because of financial problems.
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 They can't afford to lose a month's worth of salary. But, here is the good news. There is a maximum amount that anyone can garnish. According to Department of Labor's … (0 comments)

peoria short sales: Glendale AZ Short Sale Myth:Everyone Can Short Sale With No Deficiency - 05/11/12 05:13 AM
Glendale AZ –
 I recently heard another so-called short sale expert say that the Federal Mortgage Forgiveness Debt Relief Act made it so that everyone gets to short sale with no deficiency.
 The unfortunate news is that this is not true. In some state, state law forbids the lenders from attempting to collect from the homeowner after a foreclosure or short sale. But, those states are the exception, not the rule.
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 Here is what the Federal Mortgage Forgiveness Debt Relief Act does. It enables a homeowner … (2 comments)

peoria short sales: Glendale Az Short Sales: Why Do Bank Negotiators Break The Rules? - 05/10/12 01:19 AM
Glendale AZ –
 We had a negotiator at Bank of America try to push us around a little while ago. We’ve studied and analyzed all of the short sale guidelines and rules. This was an FHA loan and therefore would be governed by FHA’s Short Sale Guidelines. This means that the lender must follow FHA’s Specific Instructions on how to handle the short sale. Here's what happened.
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 FHA sends all of the lenders who handle their loans a letter called "Mortgagee Letter 2008-43." It details exactly … (0 comments)

peoria short sales: Glendale Az Short Sale Deficiencies On "Sliced & Diced Loans? - 05/08/12 05:07 AM
Glenndale AZ –
 Another common type of loan that does not usually have a deficiency is a “Sliced and Diced” loan. A “Sliced and Diced” loan is a loan that has been securitized along with a bundle of other loans. Here is how that happened. John gets a loan from ABC Bank. ABC Bank is running out of money to lend out. So, they sell 1,000 of their mortgages to Goldman Sachs.
 Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
 Goldman then securitizes that bundle of 1,000 mortgages and sells of 50,000 shares of … (0 comments)