Apache Junction, Arizona Short Sale

We are setting out on day two with Trent Chapman and we are stunned by the number of appearances Trent has had on shortsalepowerhour.com. We asked Trent to come back to speak about the Short Sale Genius Designation program. Everyone knows that we are not great fans of designations. We have contributed on our own designation recently, but we stole that from Trent. Nonetheless, Trent has decided to do a real designation. The designation is for agents who work with distressed homes.

The designation is different from other designations. With other designations, you go to a class and take an exam and acquire your designation. With the Short Sale Genius designation, there are special levels based on how many short sales you have completed.

If you take the class you will get a general designation, but it will also document how many short sales you have completed. Trent simply figured that taking a class and passing a test did not make any person an expert. So, he decided to add a little bit of common sense and integrity into the procedure.

On a different note, software is something that lots of other agents ask about. Trent offers software that is state of the art with features that help the realtor that is doing a couple transactions or hundreds. His software essentially coaches you along in the short sale procedure. There are red flags that let you know if a file is out of compliance or taking overly long. There is also a feature that permits the home owner to log in and see the standing of their file. It was specifically built for short sales. Check out the theshortsalegenius.com

If you have questions, get your Short Sale questions answered by Short Sale Specialists.

Watch this and more short sale videos by Kevin and Fred at Short Sale Power Hour

Also, follow Group 46:10 on their blog at Pre Foreclosure – Mortgage Short Sale Arizona

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

More than a thousand home owners in Phoenix, Arizona area were able to use foreclosure prevention techniques to keep their homes from being foreclosed on. Because of a variety of foreclosure prevention projects, millions of Americans across the country have been able to avoid foreclosure. Contrary to popular belief, the banks and lenders that hold these mortgages want to help you with foreclosure prevention just as much as you want to help yourself.
The government in Phoenix, AZ understands that foreclosure prevention programs are important to the families of this great state. And they are doing everything that they can to help with foreclosure prevention for all of those home owners that need it. There have been exhaustive efforts with respect to foreclosure prevention to help people stay in their homes.
The foreclosure prevention program that the federal government unrolled was enacted by President Obama. He also had the intentions of helping foreclosure prevention of homes that were purchased with sub prime mortgages. The foreclosure prevention program is set up and can be used until at least 2012.
Under the foreclosure prevention program, many people that face foreclosure or the potential of foreclosure can have the opportunity to use something like a loan modification. Loan modification is a great method of foreclosure prevention as it gets the home owner into a situation that they can feel comfortable with. However, because the government is involved, they are in control of who can use the program. That is a good thing for people trying to find a method of foreclosure prevention. Without the government involved, a loan modification can only happen if the lender agrees to it, and they only care about there money.
The foreclosure prevention program is useful for many, but its criteria can make it difficult for some to qualify. Also, if you are one of those individuals that can’t make the payments at all, modifying the loan may not help at all. Therefore, some of you need to consider another foreclosure prevention option.
Consider for your foreclosure prevention prevention method the short sale of your home. The short sale offers the home owner the opportunity to get out from under their mortgage by selling the home.
Because of current state of the housing market, with home values plummeting, people don’t think that they can sell their homes for enough money to pay off the mortgage. While this is true, the short sale remedies that, which is why it is a very nice method of foreclosure prevention.
With a short sale, you are able to sell your home for less than the value of the mortgage and the bank accepts that money along with other terms that include either forgiving the remainder of the loan or working out a payment schedule for the remainder of the loan. Either way, it is a great way of foreclosure prevention.

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

Short Sale Power Hour is pleased to welcome Trent Chapman, Short Sale Genius, back to the episode. Trent has spent plenty of time educating realtors how to escalate. He offers a form letter on his website, theshortsalegenius.com, to offer people an example of how to communicate the escalation message to the lender. Basically, it gives a universal script as to how you can clarify that the short sale is better than foreclosure.

Alas, because too many people have just copied and pasted the document, Matt Vernon may have a problem with it. For folks that don’t know, Matt Vernon is a VIP at Bank of America. So, Trent will be getting in touch with Matt Vernon to talk about the escalation letter.

The inspiration behind the letter is that Trent wants to help agents in knowing how to escalate. When you are addressing somebody that is higher up in the lender, you want to make the story as short as feasible. We suggest that you tell them the following. This is the property. It has been on the market for ‘x’ days. We have an offer. It’s full market value. Here is the fair market value backed by these comps. Then you offer them the facts. With a short sale, you will obtain this much funds and if this forecloses, you will obtain this much funds. That is the gist of the email.

If you have questions, get your Short Sale questions answered by Short Sale Specialists.

Watch this and more short sale videos by Kevin and Fred at Short Sale Power Hour

Also, follow Group 46:10 on their blog at Short Sale – Short Sale Arizona

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

The final challenge to overcome in the bank short sale process is the ever mounting stress. We’ve already touched on this a bit in the above concerns and also in Part I of this article. However, the bank short sale process brings stresses from several angles. There is undue stress from how the bank deals with the bank short sale process and stress from the loved ones around you that think they are helping by giving you advice. There is also stress from the time that it takes to complete a bank short sale. That is why a real estate agent, to deal with banks and negotiators, is so essential.
With the bank short sale becoming an increasing popular tool in Queen Creek, AZ to help home owners out of soe tight situations, the real esate agent is critical to making the process move smoothly All that being said, we could tell you to avoid the bank short sale, but that is not in your best interest if you find yourself in an upside down mortgage situation. The bank short sale is the best option for you if you have an ally in the battle with the bank and the buyer and the negotiator. Tackling this daunting process without the help of a supremely qualified agent can be enough to push you to the crazy house. So, why do we deal in bank short sale listings? The simply answer is this. The bank short sale can bring to fruition three happy parties. First, the bank, that gets more money for the property through the bank short sale process than they would if they had to foreclose on the home and sell it. Second, the current home owner wins by using the bank short sale to get themselves out of an upside down mortgage. And Third, the new home buyer uses the bank short sale as a way to get a great property at a reduced price.
Bank short sale listing can offer a buyer in Queen Creek, Arizona a great opportunity to get into a home that is ready to live in. It gives the seller a way out and the bank a little less loss. Also, because of the bank short sale process, they can be real winners in the negotiation process.
Currently, banks and home owners alike are having their cups run over with upside down mortgages. The bank short sale can help out all parties in making a bad situation a little bit better. Avoiding foreclosure in lieu of a bank short sale is in everyone’s best interest and using an experienced real estate agent to facilitate the bank short sale is in your best interest.

A variety of foreclosure prevention techniques are used by people in Phoenix, Arizona who are facing foreclosure every day. Today, we are choosing to focus our attentions on a fairly unknown, but still highly effective method of foreclosure prevention. To be sure, you should know that there are many foreclosure prevention techniques available to you. We lose count at about forty if you are keeping track at home. However, many of the foreclosure prevention techniques you may have heard of are simply ways to delay the process and do nothing to actually stop the process, which for most people is the goal in finding foreclosure prevention techniques.
Foreclosure prevention by slowing down the foreclosure process has a few advantages in Phoenix, AZ; you have the opportunity to stay in your home payment free for what can seem like a long period of time. Furthermore, it can give the chance to find foreclosure prevention through qualifying for a loan modification program run by the government or given by your lender. Some of these foreclosure prevention strategies can be done by you, but finding a foreclosure prevention specialist is probably in your best interest.
What are foreclosure prevention techniques? foreclosure prevention is used to delaying or halt the process of foreclosure. You should initially find out how a foreclosure works so that you can apply foreclosure prevention techniques that will best serve you. If you have a basic idea how the foreclosure process flows, you can use foreclosure prevention techniques to delay the progress of your foreclosure.
Some delay techniques include the following…
Respond to the foreclosure Summon — If you respond to the foreclosure letter from your mortgage lender, this foreclosure prevention option will stop the process for a several weeks or months.
Negotiate the late payments as a form of foreclosure prevention. If you and the lender can agree on a payment plan to cover the late payments your lender may choose to halt the foreclosure process. This foreclosure prevention technique is not negotiating a mortgage refinancing, but it is paying off you late payments.
File for bankruptcy as a source of foreclosure prevention. This is really a silly foreclosure prevention strategy. Filing for bankruptcy gives you horrible credit and, even though it can delay the process, you will maybe lose your home in foreclosure anyway. This foreclosure prevention strategy is not a decision that you should make without careful consideration.
The best foreclosure prevention strategy is to utilize a not well known process called the short sale. You can contact a real estate agent that knows about this foreclosure prevention strategy and they will explain to you how it works. It will get you away from foreclosure and it keeps the bank happy to. So, your credit won’t take a big hit from using a short sale.

Today, Kevin and Fred have decided to embrace a topic that they have never covered in the past. Additionally, they haven’t ever discussed it in one of their Crush It classes. The topic is post short sale approval troubles. Basically, you previously have an approval from the bank and troubles come up. How do you deal with them? What is really occuring out there?

With a transaction that closed yesterday, our escrow officer was looking to get the final HUD approval from our negotiator at Citi. It was closing today. The negotiator denied the final HUD in spite of the fact that all of the terms were met. The worst part was that the negotiator was not willing to articulate in plain english to make clear that the HUD had to look a particular way. It is essential to note that just because the contract is approved, it does not mean it is closed.

Realize that your approval note at most banks states that they have to approve of the final HUD. Because the approval letters don’t state what they are paying and what they are not paying, you may not know if they will grant it.

We had another post approval crisis of late, with an approval from the controller. We planned the closing. About a week into the closing, we got a telephone call from a different negotiator that introduced themselves as the the new negotiator for this file. She asked for a number of documents so that she could get the file accepted. When we informed her that we previously had the file accepted, she let us know that that approval was no longer valid because they never got the file accepted from the investor.

This is the type of things that is occuring out there that you will not here in a regular short sale training seminar. The point is that there are post approval troubles and you are going to have to work with them if you desire to be successful in this business

If you have questions, get your Short Sale questions answered by Short Sale Specialists.

Watch this and more short sale videos by Kevin and Fred at Short Sale Power Hour

Also, follow Group 46:10 on their blog at Phoenix – Arizona Short Sale Specialist

With the economy at its lowest point in memory and unemployment at historically high levels, you may be concerned about your economic future. As you track the news, the buzz surrounding plummeting home values always includes a discussion of foreclosure. It seems that more and more people have to foreclose on their homes. Perhaps you are struggling financially, and you are wondering if foreclosure is a possibility for your home. Maybe you’ve heard about a loan modification or a mortgage modification as an alternative to foreclosure, but you are unsure as to what any of that means.

A foreclosure is when the legal ownership of a home ends. In other words, the lending institution that holds your mortgage takes your house and you have no more legal rights to it. This often happens when the monthly mortgage payments have not been made. Usually, the lending institution will sell the house at an auction and use the money from the sale of the house to pay down the remaining mortgage debt.

The current administration is trying to help homeowners avoid foreclosure by working with lenders to offer loan modifications to their customers. A mortgage modification can help you avoid foreclosure when your lending institution changes a portion of the mortgage agreement so that you can afford the monthly mortgage payments. The mortgage holder can reduce the interest rate on the mortgage, or they can lengthen the term of the loan and reduce the interest rate. Changing one or both of these terms of the mortgage will lower the monthly mortgage payments. The goal is for the homeowner to avoid foreclosure and keep their house.

Before deciding that foreclosure is your only option during this difficult economic climate, consider loan modification. Likely you will need to summarize your monthly income and your monthly expenses. You will also need to write a hardship letter along with your application.

If you are serious about mortgage modification, you should look into getting a home loan modification kit. One such kit is 60 minute loan modification; it is basically a loan modification encyclopedia. The kit includes outlines of properly written hardship letters, important information about all major lenders, important to know terms and vocabulary and much more.

If you want to learn more about loan modification and 60 minute loan modification click here

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IF you are in search of foreclosure help in Phoenix, Arizona and are not sure where to turn, consider the government’s plan to help you out. However, realize that the government plan for foreclosure help, basically a loan modification, has several requirements that may cause you to be ineligible. We believe that foreclosure help from the government is just the second best option. The best foreclosure help available to you is the short sale. Here are the two plans, in a nutshell, and some of the things to consider with each.
With the government program, you will only receive foreclosure help in Phoenix, AZ if you meet the criteria laid out by the government and get your application for foreclosure help is during the time frame that the government sets aside. Here is that criteria as we understand it….
1. You must live in the home that you are seeking foreclosure help for.
2. The mortgage you are seeking foreclosure help on must have been obtained prior to January 1, 2009.
3. foreclosure help can not be used on mortgages that are more than $729,750.
4. Your total monthly mortgage payment, including taxes, insurance, and homeowner’s dues has to be more than 31 percent of your gross monthly income.
5. To receive foreclosure help, you must be a difficult financial situation.
6. If your payments are up to date, you can still qualify for foreclosure help, but you need to prove that your current financial status will probably lead to defaulting on your loan
If you qualify for foreclosure help based on the criteria above, you have a good chance of getting a loan modification that will better suit your needs. We recommend that you apply for foreclosure help as soon as possible. Do the following to get qualified for foreclosure help…

We are going to speak about mindset yet again today. We have noticed a trend on our favorite social media website, facebook. Coincidentally, facebook recently surpassed 500 million users. So, that is a fantastic lead generation technique on mindset Monday. Simply ask the 23 customers that we got through facebook and closed on.

The idea that we would like to speak about is that we have noticed lots of realtors on facebook that are complaining. We are not mad at them because several of them are our friends. Nonetheless, we see a lot of the status updates about which lender you hate. Also, there are loads of status updates asking if anybody has a good contact at this specific lender or that specific lender. In light of these facebook postings, we would like to take people back to the January 2nd installment.

The idea that was discussed on that installment was to do something atypical. This is not an installment to get mad at realtors. The goal is to not get caught in a rut doing the identical thing all of the time and hoping for atypical results. You will have to do something atypical.

One of the things that we suggest to realtors is to speak to somebody atypical at the lender. If you are wondering how to achieve that, sample jigsaw.com. We get emails all day for acquaintance details. It is crucial to note that we will never reply with contact information, but we will usually reply with a recommendation to try jigsaw.com

Just one illustration of doing something atypical, Fred couldn’t get a lender worker to stop talking today so he just started pushing buttons on the phone. It most likely wasn’t the most grown-up thing to do. Nevertheless, he was doing something atypical. If what you have been doing is not getting you the results you desire, try something atypical. The worst thing that can come about is you will still not get the results you desire.

If you have questions, get your Short Sale questions answered by Short Sale Specialists.

Watch this and more short sale videos by Kevin and Fred at Short Sale Power Hour

Also, follow Group 46:10 on their blog at Pre Foreclosure – Mortgage Short Sale Arizona