Will My Credit Be Impacted By Doing A Short Sale?

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

Thank you for joining me, I'm Kevin Kauffman, co-owner of Group 46:10, one of the top real estate and short sale businesses in Chandler; in fact, we are one of the top short sale businesses in the nation. I'm here to talk to you today about short sales and credit; it's currently one of the most commonly misunderstood topics in the real estate world. I have individuals approach me all the time saying they have heard that if they do a short sale it's going to negatively impact their credit score by 100 points and if they foreclose it'll drop 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 decrease. Everyone's situation is different. It is not even the short sale that hurts your credit score. It does affect your credit report, meaning the writing and notes on your credit report, not your numbers. What impacts your numbers are things like missed payments. If you want to decrease the impact to your credit score, it is essential to start and complete the short sale process right away.

That is why it's important to hire a team like ours, Group 46:10, who has over a 90% success rate with short sale closings. We actually complete short sales in about 3-4 months currently. Most short sale agents are taking 6-7 months to get their short sales finalized, but not Group 46:10. Call us at 602-492-4610 and let us know what we can do to assist you. We'd like to talk to you about your underwater mortgage and what we can do to relieve you of your upside down 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.

Short Sales 101 – What is a Short Sale?

Posted by webmaster on May 19, 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.

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

Should I Get Authorized Recommendation For My Short Sale?

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

Hello, my name is Kevin Kauffman and I am with Group 46:10, Chandler's number one short sale team. You most likely found this blog because you are looking around the internet for short sale info and one thing that is probably going through your thoughts is must you get authorized advice. I have to tell you it isn't a bad idea. I really assume that authorized recommendation is a very good thought for somebody in your situation. The truth is, we advise all of our clients to go ahead and obtain authorized recommendation as a result of I think that's the finest route when you've got any lingering questions at all around the process and what to anticipate from a legal standpoint and what your liabilities are.

We will clarify every thing really well. We are able to share with you our experience of having closed well over 600 short sales in the last couple of years. We can clarify all that to you, however on the end of the day, it's possible you'll not feel comfortable with your grasp and it's possible you'll wish to discuss to an attorney. We have truly partnered with one of the high local law firms right here in the Chandler area to supply free recommendation without charge to you in relation to doing a short sale if you list with us.

Once more, I'm Kevin Kauffman with Group 46:10, Chandler's primary short sale team and we're here to help. If you want extra info on that, give us a call 602-492-4610, or you may also fill out a form on our website. Not only can we speak to you about our experience with short sales, however we will get you in front of one of the city's top attorneys to speak to you about your situation and it does not even cost you a penny. This is without doubt one of the advantages to working with Group 46:10. Give us a call at the moment and we look ahead to talking 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 Kauffman and Fred Weaver of Group 46:10, Short Sale Specialists, on the daily Short Sale Power Hour.

How Long May It Take To Short Sale My Phoenix Area House

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

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

At present I wanted to speak with you about how long it could take to complete a short sale on your property in Chandler. This can be a question I hear from owners very often and thankfully there's a pretty simple answer to understanding the short sale timeline. A year ago I might have advised you anywhere from seven to eight months but present day our workforce is closing short sales in 4 to 5 months on average. Because of the short sale market heating up in Chandler and our short sale process continuing to enhance we have been able to make great strides in getting fast approvals. This complete process starts by gathering all of the documents you will have as a way to submit a short sale file to your lender. Once we have your paperwork our team will begin marketing your property over a one to two week span. As soon as we find a purchaser we are able to have your file negotiated in just over 45 days.

Once your home completes a twenty one day close of escrow interval we are only taking a look at three and half months from beginning to end. So if you are contemplating a short sale please contact our workforce to get your file approved quickly. Thanks a lot and have an incredible 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.