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Short Sale Myths Debunked - Free Seminar June 18

"Rumor travels faster, but won't stay put as long as the truth." ~Will Rogers

One of The Krone Team goals for 2011 is to save as many families from foreclosure as possible.  Our next Short Sale Seminar will be

June 18th  at 1:00pm

1626 N. Litchfield Rd., Goodyear, AZ 85395.

We will have an Attorney and CPA on hand to answer any questions you might have about the Short Sale process.  If you or anyone you know would benefit from such information, please let us know to reserve a seat for you for this event by sending an RSVP at AvoidingForeclosureInPhoenix.com.

There are a lot of misunderstandings and myths regarding Short Sales.  You really owe it to yourself to get accurate information so you can make an informed decision. Below are just a few of the topics we will be covering. We hope to see you Saturday.

SHORT SALE MYTHS DEBUNKED!

A short sale can be an excellent solution for a homeowner who owes more on their home than what it is worth and has to sell. Unfortunately a number of myths about short sales have developed and it is important to understand the reality of this process.

 1. SHORT SALES ARE IMPOSSIBLE AND NEVER GET APPROVED.

Nothing could be further from the truth!

• Are short sales more difficult? Yes        • Are they impossible? No, No, No!

Agents with the Certified Distressed Property Expert® (CDPE) designation have undergone extensive training in helping homeowners in distress and processing short sales.  Keith and Cheryl Krone are proud to be designated as CDPE Agents.

 2. YOU MUST BE BEHIND IN ON YOUR MORTGAGE IN ORDER TO NEGOTIATE A SHORT SALE.      

While it is true that initially some lenders wanted you to be in default (missed a payment) before they were willing to consider a short sale, this trend has almost all together reversed. Today lenders are looking for verifiable hardship, monthly cash flow shortfall or pending shortfall and insolvency. If you meet these three requirements and are in a position where you will soon be unable to afford your mortgage, act now! Don't wait until the countdown clock to foreclosure has started and you have even less time left.

3. BUYERS ARE NOT INTERESTED IN SHORT SALES AND AVOID THEM.

This is a myth that agents and potential sellers hear all the time - thankfully this is not the case. In fact many agents are getting calls from buyers who say, "I only want to look at foreclosures and Short Sales!" Short Sales and Foreclosures have become synonymous - not with issues - but with GOOD DEALS. International buyers specifically are interested in these properties.

 4. BANKS ARE NOT ACCEPTING SHORT SALES; THEY ARE WAITING ON A BAILOUT

Many have heard this, but the reality is that banks (and the government) are trying to do anything they can, within reason, to avoid foreclosing on property. To think that they would deny a Short Sale in hopes that some future legislation will pass and pay them for their loss is preposterous. More banks are aggressively pursuing Short Sales and agents (like CDPEs) who understand how to process them. Freddie Mac recently hosted a national training webinar for real estate agents where they expressly stated the organizational goal of "eliminating distressed assets through modification or short sale."

For more information about foreclosures and short sales in Phoenix, please feel free to visit the website at AvoidingForeclosureInPhoenix.com, or to contact Krone directly at (623) 337-8277 ext. 201 or by emailing Info@AvoidingForeclosureInPhoenix.com .

 AvoidingForeclosureInPhoenix.com.

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Sounds like it should be a great event. Good luck with that!

Jun 14, 2011 05:33 AM