Mortgage Short Sale Can Save Your Credit

Posted by webmaster on May 20, 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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For more videos on short sales check out Kevin and Fred on the Short Sale Power Hour. Video for Short Sale Specialists.

Will My Credit Be Impacted By Doing A Short Sale?

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

Thanks for joining me, I’m Kevin Kauffman, co-owner of Group 46:10, one of the leading real estate and short sale groups in Gilbert; in fact, we are one of the top short sale teams throughout the country. I’m here to talk to you today about short sales and credit; it is currently one of the most commonly misunderstood topics in the real estate world. I have individuals approach me all the time saying they’ve heard that if they do a short sale it is going to decrease their credit score by 100 points and if they foreclose it’ll decrease by 200 points. I want to clear something up for you: there’s no formula or calculation to tell you how much your credit score is going to decrease. Everyone’s situation is different. It’s not even the short sale that impacts your credit score. It does impact 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 would like to reduce the impact to your credit score, it is crucial to begin and complete the short sale process as soon as possible.

That is why it is important to work with a team like ours, Group 46:10, who has over a 90% success rate with short sale completions. We actually complete short sales in about 3-4 months right now. Most realtors are taking 6-7 months to get their short sales done, but not us. Call us at 602-492-4610 and let us know what we can do to help you. We’d like to talk to you about your underwater mortgage and what we can do to relieve you of your distressed property 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.

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

Should I Get Legal Advice 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, Gilbert’s primary short sale team. You probably discovered this blog because you’re looking around the internet for short sale data and one factor that’s in all probability going through your mind is must you get authorized advice. I have to inform you it’s not a bad idea. I actually suppose that authorized advice is a really good thought for someone in your situation. The truth is, we advise all of our clients to go ahead and acquire legal advice as a result of I think that is the best route when you’ve got any lingering questions at throughout the method and what to expect from a legal standpoint and what your liabilities are.

We can explain every little thing really well. We are able to share with you our expertise of having closed well over 600 short sales within the last couple of years. We are able to clarify all that to you, but on the end of the day, you may not feel snug together with your grasp and you may want to speak to an attorney. We have truly partnered with one of many prime local law firms right here in the Gilbert area to supply free recommendation for free of charge to you in relation to doing a short sale in case you list with us.

Once more, I’m Kevin Kauffman with Group 46:10, Gilbert’s number one short sale team and we’re right here to help. If you want extra information on that, give us a call 602-492-4610, or it’s also possible to fill out a form on our website. Not only can we speak to you about our experience with short sales, however we are able to get you in front of one of the city’s top attorneys to speak to you about your situation and it doesn’t 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 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.

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 Region House

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

Hello everyone my name is Kevin Kaufmann and I am the co-founder of the nations leading short sale workforce, Group 4610. My business partner Fred Weaver and I use our blog to help educate Gilbert homeowners on their options for avoiding foreclosures on their underwater mortgage. Should 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 Gilbert real estate options.

At present I wanted to talk with you about how long it could take to finish a short sale on your own home in Gilbert. This is a question I hear from householders fairly often and fortunately there’s a fairly straightforward answer to understanding the short sale timeline. A year ago I would have informed you anywhere from seven to eight months but present day our crew is closing short sales in 4 to 5 months on average. Thanks to the short sale market heating up in Gilbert and our short sale process continuing to enhance we have been in a position to make great strides in getting fast approvals. This whole process starts by amassing all of the documents you have to as a way to submit a short sale file to your lender. As soon as we have your paperwork our team will start advertising and marketing your property over a one to 2 week span. Once we find a buyer we are able to have your file negotiated in just over 45 days.

As soon as your private 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 crew to get your file approved quickly. Thanks so much and have a fantastic 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.