Is it Difficult to Work with Desert Schools Credit Union on Completing a Short Sale?

Posted by webmaster on Jan 27, 2012 in Uncategorized | 0 comments

Hello, my name is Kevin Kauffman, I’m with Keller Williams and Group 46:10, certainly one of Paradise Valley’s leading real estate teams specializing in short sales. I’m here to talk to you right now about Desert Schools Federal Credit Union. I get about 2 or three calls per week from people similar to your self who’ve been doing research on Desert Schools Federal Credit Union and whether or not they’ll do a short sale with them. I got to inform you, Desert Schools has been tough to work with. Over time we now have worked with them so many times that now we have been able to build some relationships there and understand their process so we will better serve our clients and their members.

Many people come to us as a result of they have heard that it’s tough to work with Desert Schools Federal Credit Union and you already know what, that could possibly be true for many people. I consider that we understand their process now and we all know how to best set up our clients for success in a short sale with Desert Schools Federal Credit Union.

So, if that’s you and you have a loan with Desert Schools Federal Credit Union, and you wish to speak to any person who has got the experience, then give us a call. We’ve dealt with them multiple instances and we’re sure that we can assist you. We have got an nearly 90% success rate, we have closed over 500 short sales now in the last 4 years. Again, I am with Group 46:10, Paradise Valley’s main short sale teams. Give us a call. You may reach us at 480-449-6642 or just fill out a form here on the web site at Group4610shortsale.com. We’ll talk 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.

To Effectively Stop Foreclosure, Loss Mitigation May Be the Solution

Posted by webmaster on Jan 27, 2012 in Foreclosure | 0 comments

When it comes to finding ways to stop foreclosure, loss mitigation could easily be the best option available to you and to your bank as well. All banks have a loss mitigation department filled with highly-trained staff, all of whom are all there specifically to help you avoid foreclosure.

Banks aren’t in the real estate business. They don’t make money by taking your home. They make their profits by lending out their money and then charging interest on that money until you pay it back. When you stop paying your mortgage the bank stops making a profit.

It’s in everyone’s best interests to find a way to let you keep your home and get your mortgage payments back on track. All they want is for you to begin paying your repayments again so they can resume making profit. If this means the bank can avoid starting the proceedings for foreclosure, loss mitigation specialists will happily work with you to find the best solution possible.

Foreclosure loss mitigation could include approving a loan modification for you, which could mean reduced monthly repayments, reduced interest rates, forgiveness of any penalty fees and charges or even an increase in the total loan term.

In some instances you might be in a position where you prefer to sell your home and get rid of your debt altogether. If you owe more on the balance of your mortgage than the amount you’ll get on the sale of your home, then this is called a short sale.

Instead of foreclosure, loss mitigation can negotiate with you to accept the lower sale price of your house and then forgive the shortfall on the remaining debt. Of course this means you’re stuck with the problem of finding somewhere else to live. You may also find that the amount the bank has to forgive is reported to the IRS as income, which means you may end up with a tax bill on top of everything else, so perhaps this should remain a last resort option to discuss.

Another option you can consider instead of foreclosure, loss mitigation staff are allowed to negotiate for special forbearance in certain specific circumstances. This is where they agree to let you make no monthly payments at all for an agreed amount of time. Once the forbearance period has ended, hopefully you’re in a better financial situation so you are able to negotiate for reduced repayments to help you get back on track as a good paying customer of the bank.

When it comes to discussing foreclosure, loan mitigation can be an ideal solution. However it’s always wise to remember that this is a specialized area of lending and should be best handled by a profession HUD-certified adviser to be sure you’re getting all the intricacies correct.

Remember that we’re here to help you stop foreclosure fast on your home; whether you want us to try and help you keep it or sell it. For your free consultation visit http://www.SaveMeFromForeclosure.com/questionnaire.php and be as detailed as possible to receive your totally free, no-risk, no-obligation analysis of your situation. The Nation’s leading foreclosure prevention resource and authority. “You have options, and we can help.”

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

Short Sale Service For Homeowners

Posted by webmaster on Jan 26, 2012 in Short Sale Arizona - Phoenix - Queen Creek | 0 comments

The service industry grows every year. Real Estate short sale service is growing due to the economic sludge moving the market slowly downward. When the debt you owe on your property is more than the market value of that property you qualify for a short sale. The short sale is a complicated process of negotiating. Most people are not ready to take on this process and should look for a professional service to work with.

There are steps you can take to ensure that you present the proper information. First organize a portfolio of the following data. Financial statements, a statement from HUD concerning your transaction, your homeowner purchase agreement, receipts of your monthly income, and this will get you off to a good start. There will be a few more required of you. Now you are ready to find a shortsale service that will get you the best deal.

Finding the company can be done when you understand what questions to ask. Many companies offer two services; shortsale negotiations to sell and short sale negotiations to buy. This means they may be buying your property too. Always check out their references especially with real estate shortsales. When there is a land trust you and only you should be the head of this trust. There are some that would not tell you they wrote in the contract they, the service company, have control.

Ask for a “Waiver of Deficiency” to protect you in the case of the bank forcing the seller to pay the balance after a short sale. A service company often has loss mitigations who have experience with banks and real estate.

No matter how great the company sounds ask all the questions you can think of. Make a list before you talk to anyone and place the questions in order of importance. You may not get far past the first few questions if the answers are “no”.

A banks polices will differ from one to another. You are going to want a deficient write-off. There are banks that only use a “promise note” for the deficient. Many factors are involved with the negotiating back and forth between your representative and the lender. The more knowledgeable you have the better service you will get.

Many homeowners have two mortgages on one property. When you go through a short sale your agreement is not valid until there is a formal offer made on the property. When two lenders are involved due to the two mortgages, you will have to negotiate them both. This is important because the second mortgage is still your responsibility if it is included in the company’s short sale service.

The short sale service you pick should contact you in one to seven weeks with the “terms of approval”. The short sale does not get its name from the quickness of the sale. This sale may in-fact take longer than a normal real estate sale. This choice is much better than other choices like bankruptcy.

Short Sale Service, helping you understand all the dynamics and mechanics of short sales. Check out http://www.nphsrealestate.org/short-sale/national-quick-sale

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

Are You Curious About Tax Ramifications In Doing A Short Sale?

Posted by webmaster on Jan 25, 2012 in Uncategorized | 0 comments

Hello, my name is Kevin Kauffman. I am part of Group 46:10, one of the country’s top short sale and real estate teams based right here in Paradise Valley. Are you having trouble making your mortgage payments or are tired of being underwater on your home loan? We at Group 46:10 can offer you different alternatives to alleviate some of these issues. As one of the leading short sale groups in the nation, we’ve closed more than 500 short sales in the last 4 years and have a success rate of over 90%.

I’m here today to talk to you a little bit about short sales and tax ramifications. One of the issues that we hear quite frequently from potential clients is that they would like to do a short sale, but are worried about the taxes they’ll have to pay after the sale. Perhaps you have heard from others that have done short sales that there were some tax liabilities and wish to find out more.

The Mortgage Debt Relief Forgiveness Act, which ends at the end of this year, allows homeowners, such as yourself, to not pay taxes on the forgiven amount if the home is their main residence and the selling price is less than $2.5million. If you are thinking about short selling your property, you need to act quickly because the transaction would need to be finalized by the end of 2012 in order to qualify for The Mortgage Debt Relief Forgiveness Act.

Please call us or fill out the form on our website, group4610shortsale.com, to find out more about this act or if you have questions about your particular situation. If you do not qualify for this act, don’t let that stop you from short selling your propety. We have a few other ways to avoid paying taxes as well. A practiced short sale specialist, such as myself and my business partner Fred, can discuss those different options with you.

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.