Short Sales – The Good News and the Bad

Posted by webmaster on May 18, 2012 in Short Sale Arizona - Phoenix - Queen Creek | 0 comments

Short sales where just not the norm in days past. Usually the biggest real estate discounts where found in pre-foreclosure and foreclosure. The high profit potential in short sales were just not there. The idea behind both foreclosure and short sale is to recover as much as possible from the unpaid loan.

A lender will occur a much deeper price cut if it agrees to a short sale. The homeowner will walk away with absolutely nothing and the bank will recoup as much as possible from its loss. Now this might seem like a lose-lose situation for both parties but it does have its advantages.

Although short sales were very rare, this is no longer the case because of the subprime-lending crisis. This crisis has turned real estate up side down. Lenders now see short sales as a viable option to rid themselves of properties. This is excellent news for real estate investors.

This by far is not a banks preferred method of removing property from the books but it is an effective way of preventing substantial loss because of a potential foreclosed property.

The bank will receive a deed to the property in a short sale because the bank is willing to accept less money than is owed by the original buyer. The reason the bank accepts these terms includes:

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

Should I Get Legal Recommendation For My Short Sale?

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

Hi, my name is Kevin Kauffman and I am with Group 46:10, Phoenix’s number one short sale team. You probably discovered this weblog as a result of you are looking across the internet for short sale information and one thing that is in all probability going through your mind is must you get legal advice. I have to tell you it is not a bad idea. I actually suppose that legal recommendation is a very good thought for someone in your situation. In actual fact, we advise all of our clients to go ahead and obtain authorized recommendation because I believe that is the best route in case you have any lingering questions at throughout the process and what to expect from a authorized standpoint and what your liabilities are.

We are able to clarify every little thing really well. We can share with you our expertise of having closed well over 600 short sales within the last couple of years. We can explain all that to you, however at the end of the day, chances are you’ll not feel snug along with your grasp and you might wish to speak to an attorney. We’ve really partnered with one of the prime local law corporations right here within the Phoenix area to offer free recommendation without charge to you in terms of doing a short sale for those who list with us.

Again, I’m Kevin Kauffman with Group 46:10, Phoenix’s primary short sale team and we’re here to help. If you want extra data on that, give us a call 602-492-4610, or you may as well fill out a form on our website. Not only can we speak to you about our experience with short sales, but we are able to get you in front of one of many city’s top attorneys to talk to you about your scenario and it does not even cost you a penny. This is one of the benefits to working with Group 46:10. Give us a call today 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 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 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 Phoenix householders 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 Phoenix real estate options.

At present I wanted to speak with you about how long it could take to complete a short sale on your home in Phoenix. This is a question I hear from householders very often and thankfully there’s a fairly easy answer to understanding the short sale timeline. A year ago I might have informed you anywhere from seven to eight months but present day our staff is closing short sales in 4 to five 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 accumulating all the paperwork you will have in an effort to submit a short sale file to your lender. As soon as we have your paperwork our staff will start advertising your property over a one to 2 week span. Once we find a buyer we will have your file negotiated in just over 45 days.

Once your private home completes a twenty one day close of escrow period we’re only taking a look at three and half months from starting to end. So if you’re contemplating a short sale please contact our team to get your file approved quickly. Thanks so much and have an amazing 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 Contemplating Short Selling Your Residence?

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

Hello, my name is Kevin Kauffman, the co-owner of Group 46:10, certainly one of Phoenix’s primary short sale teams. I’m here at the moment just answering more of your questions. We get a whole lot of emails, telephone calls and individuals are coming to us for advice on short sales. We’ve closed so a lot of them. In fact we have closed over 600 within the last couple of years and with an over ninety% success rate. Which means that 9 out of 10 of our clients have successfully avoided foreclosure.

One of the questions that comes up continuously is about what to do when you have a home equity line of credit or HELOC and is it possible to do a short sale? Well the easy answer is sure, you can do a short sale. The not so easy reply is that this, most instances you would nonetheless end up owing the bank whether you do a short sale or not. This can be information that you didn’t need to hear, but sadly if you happen to undergo a foreclosure, you’ve got to cash out the home equity line of credit which means you got this line of credit after you got the home. Any time after you purchased the house and also you obtain cash on it, then completely you possibly can be liable for the deficiency amount.

We are experts at getting that deficiency amount negotiated down and in some circumstances our clients are able to walk away owing nothing. Some walk away paying as little as 5-10% of that balance. We’re able to try this because by the short sale process, we get the other lender to help pay for that home equity line of credit through the sale of the home.

So consider it or not, not like your first mortgage, the home equity line of credit is a lien against you personally. You are personally accountable for it; it is not simply in opposition to the property. So once we promote the property, we are able to take some of those funds, apply it in the direction of that balance and assist cut back your liability.

Once more, I’m Kevin Kauffman with Group 46:10, certainly one of Phoenix’s main short sale teams and we’re right here to help. If you’d like more data on short sales or the short sale process, give us a call. We’re specialists in home equity lines of credit and short sales and we can help you out. You possibly can reach us at 602-492-4610. Thanks so much, have a terrific day and we look forward 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.