Should I Get Legal Recommendation For My Short Sale?

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

Hello, my name is Kevin Kauffman and I'm with Group 46:10, Phoenix's primary short sale team. You probably found this weblog because you're looking across the web for short sale information and one factor that's probably going through your mind is should you get legal advice. I have to tell you it isn't a bad idea. I really assume that legal advice is a extremely good concept for somebody in your situation. In fact, we advise all of our clients to go forward and obtain authorized advice as a result of I believe that's the finest route when you have any lingering questions at throughout the process and what to expect from a legal standpoint and what your liabilities are.

We will explain every little thing actually well. We can share with you our expertise of having closed well over 600 short sales within the last couple of years. We can clarify all that to you, but at the end of the day, you might not feel comfortable together with your grasp and it's possible you'll wish to talk to an attorney. We have now truly partnered with one of many prime local law corporations here within the Phoenix area to supply free recommendation at no cost to you in relation to doing a short sale if you happen to list with us.

Again, I'm Kevin Kauffman with Group 46:10, Phoenix's primary short sale team and we're right here to help. If you need more data on that, give us a call 602-492-4610, or you may also fill out a form on our website. Not only can we discuss to you about our expertise with short sales, however we can get you in front of one of the city's prime attorneys to talk to you about your scenario and it does not even cost you a penny. This is likely one of the advantages to working with Group 46:10. Give us a call at this time and we look forward 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.

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

Mortgage Short Sale Can Save Your Credit

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

Almost everything revolves around credit these days. People who don't have any credit can attest to that. Many of these people will have no chance of renting a hotel room or a car or even renting an apartment. But it doesn't end there! Some people with bad credit can't even get a particular job. If you're a homeowner, who is in financial disarray, mortgage short sale can save your credit and is worth investigating going the extra mile to avoid any kind of foreclosure or bankruptcy.

The mortgage short sale may or may not be something you've ever heard of. Although it was created long ago, he was somehow put to rest and resurfaced in recent years. It was designed to relieve homeowners of their mortgage responsibility if they fell into financial trouble.

Homeowners whose homes are mortgaged above the current market value may qualify for this type of sale. There really are no catches involved in this solution, only some prerequisites that must be met. To begin with, the mortgage must be in arrears. And it goes without saying that you cannot have any savings. The reason being is that your banker or mortgage lender will have to accept a loss due on the loan.

In most cases, the homeowner will be released of any responsibility on the home once it is sold. In order to apply for a short sale, you must request the short sale package from your bank or mortgage lender. This package requires you to gather some pertinent information, attach certain important documentation and return it to the lender with hopes that it will be approved.

It is advisable to all homeowners to hire a real estate agent, who agrees to a lower compensation than usual, to help with all the steps involved in such a sale. Lenders are more willing to negotiate with a real estate professional rather than solely with the individual homeowners. Of course, a realtor has more selling power than any homeowner can have, as they have the power of the MLS at their disposal. This can often result in selling the home much quicker.

With respect to saving your credit, a short sale appears differently on a credit report than does a foreclosure. After having successfully done a short sale, your credit report would read "pre-foreclosure in redemption" and would reduce your FICO score by about 100-200 points.

In the case of a foreclosure, your report would read "debt discharged due to foreclosure" and would have a huge impact of a 300 point reduction on your score. This is not something to be taken lightly.

This would be the difference of rebuilding your name and your life much faster as with the latter which would follow you for approximately ten years. Remember, not having credit means that you are limited in making any purchases that would exceed the amount of liquid cash you have at that moment. It means that instead of leasing or buying a new car and making monthly payments, you would have to come up with the total amount of the sale price in cash, in one lump sum... Something that most people are not able to do.

Want to save your credit score? A Mortgage Short Sale may just be what the recession expert ordered. All you need to know about short sales now on http://www.nphsrealestate.org

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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 Area Residence

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

Hello everybody my name is Kevin Kaufmann and I am the co-founder of the nations leading short sale team, Group 4610. My business partner Fred Weaver and I use our weblog to help educate Phoenix homeowners on their options for avoiding foreclosure on their underwater mortgage. When 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 Phoenix real estate options.

In the present day I wanted to talk with you about how long it may take to finish a short sale on your house in Phoenix. This can be a question I hear from homeowners very often and fortunately there's a pretty simple answer to understanding the short sale timeline. A year ago I'd have told you anywhere from seven to eight months but present day our group is closing short sales in 4 to 5 months on average. Because of the short sale market heating up in Phoenix and our short sale process continuing to improve we have been capable of make great strides in getting fast approvals. This entire process begins by amassing all the paperwork you have to in an effort to submit a short sale file to your lender. Once we have your paperwork our group will begin advertising your property over a one to 2 week span. As soon as we find a buyer we can have your file negotiated in just over forty five days.

As soon as your property completes a twenty one day close of escrow period we're only looking at three and half months from beginning to end. So if you're contemplating a short sale please contact our staff to get your file approved quickly. Thanks a lot and have an awesome 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.

Do You Have A HELOC and are Considering Short Selling Your Home?

Posted by webmaster on May 16, 2012 in Uncategorized | 0 comments

Hello, my name is Kevin Kauffman, the co-owner of Group 46:10, considered one of Phoenix's primary short sale teams. I am here at the moment just answering more of your questions. We get plenty of emails, phone calls and individuals are coming to us for advice on short sales. We have closed so a lot of them. In reality we have closed over 600 in the final couple of years and with an over ninety% success rate. Which means 9 out of 10 of our clients have efficiently avoided foreclosure.

One of the questions that comes up regularly is about what to do if you have a home equity line of credit or HELOC and is it attainable to do a short sale? Well the simple answer is yes, you can do a short sale. The not so easy answer is that this, most times you can nonetheless find yourself owing the financial institution whether you do a short sale or not. This can be news that you simply did not need to hear, but sadly if you undergo a foreclosure, you've got to cash out the home equity line of credit meaning you bought this line of credit after you bought the home. Any time after you bought the home and you receive money on it, then absolutely you possibly can be responsible for the deficiency amount.

We're experts at getting that deficiency amount negotiated down and in some cases our clients are in a position to walk away owing nothing. Some walk away paying as little as 5-10% of that balance. We're able to do that as a result of through the short sale process, we get the opposite lender to help pay for that home equity line of credit via the sale of the home.

So consider it or not, not like your first mortgage, the home equity line of credit is a lien towards you personally. You're personally answerable for it; it is not just towards the property. So after we sell the property, we are in a position to take a few of these funds, apply it in the direction of that balance and assist reduce your liability.

Once more, I'm Kevin Kauffman with Group 46:10, certainly one of Phoenix's main short sale groups and we are here to help. If you'd like extra info on short sales or the short sale process, give us a call. We are specialists in home equity lines of credit and short sales and we may also help you out. You'll be able to reach us at 602-492-4610. Thanks a lot, have a fantastic day and we look ahead to speaking with 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.