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Facing Foreclosure on Your Real Estate Mortgage, Short Sale & Loan Modification are Alternatives. Hire an Expert Short Sale Negotiator, Experienced Real Estate Agent. Go To http://RealEstateMarketingThisWeek.com
Part 5 (Excerpt)
In a Short Sale make sure you hire an expert negotiator who is a full time real estate agent
If youre in trouble and you think you want or need to do a loan modification, we work with a national network of attorneys that are here to help your situation, and this show were talking about short sales because a loan modification is not for everyone. A short sale is a great alternative to a loan modification, the reality is if you can do a refinance that is more than likely the best case scenario, if you cant a loan modification is a great tool, the reality the retainer for the law firm is less than a refinance, but if those arent the options for you, you need to call Jeri and Kalyn here and they are the short sale experts.
Kalyn in the last segment we talked about where people should start the process and the reality of it is youre saying they should start now, right? They should start it now we dont care at this point whether you have a foreclosure date already or if you dont or if you know you need more information about this you need to call us today. Were happy to come over and give you a free consultation, no obligation we will just sit down with you and review your full situation and we will be frank with you and we will be honest and we will help you make the right choice for your financial future. Relieving you of pain or debt or whatever you have going on were the experts and we want you to call us.
Nobody wants to hear false truths or false promises its so easy for people who right now are facing foreclosure, for any number of reasons, its easy for them to bite onto anything that sounds like what they want to hear. The reality of it is they need to hear the truth as harsh as it is and youre going to tell them the truth, and that is your job, youre not going to tell them anything that they dont want to hear. Nobody wins in that case.
If we dont know that we can close it we will not even take it, we will be honest with you. That is so important, again talking to, because every single day I do talk to people who call in from the show and we talk about this, the reality of it is it is not going to do anybody any good if it doesnt work out, or we dont know if its going to work out, or we dont have a really good idea that its going to work out on their behalf, and in the case of a short sale as well as a loan modification this has to be a win-win.
The homeowner that is in this situation they need out and a short sale may be the right option. The lender sure as heck does not want the house back even if they are required to take a loss its a significantly better option for the lender then a foreclosure. Going back to a few minutes ago when you said youre making these calls to India and everything else, I had the opportunity last week to teach a contract writing course at Paradise Valley College, Lynn Phelps the Phd there at Paradise Valley Community College allowed me to teach this finance class and there were several people who were getting their real estate license. Most of the people in the class were thinking that real estate was an 8-5 job.
No, Not even close. I thought it was going to be glamorous. I love it, I do love it but its more of a life choice. Its a lifestyle, I remember when Kalyn was first coming on my team and that is one of the things that is most important to me is that the agents on my team understand real estate is not a career as much as its a life. It really is, you work when other people dont work and you work when they work.
That makes perfect sense and its not the 9-5 job that it might have been in the middle of 2006, and maybe your job isnt very fun in the beginning of September in the middle of the day on Sunday, probably a little hot and sticky out there but now Kalyn you have been in real estate now for about 9 years.
Youre the team leader for the Dream Vesting group and a certified negotiator is that correct. Yes. And you Jeri as well have been in real estate for 9 years. Yes, almost nine years. I am an associate broker so I am excited about that, I took the class almost two years ago and finally decided to take the test and take the plunge.
Well good and that is a great accomplishment and you also have extensive experience in property management is that correct? Not property management, property sales management. I actually ran three different condo projects back in 2006 when it was fun to be a real estate agent. I helped actually with the acquisition of the properties, the development and then the sales, and then ran the sales teams and I ran three real estate offices as well. Very nice so the condo conversions are what youre talking about back in 2006 in the day right? Yes... 
Facing Foreclosure on Your Real Estate Mortgage, Short Sale & Loan Modification are Alternatives. Hire an Expert Short Sale Negotiator, Experienced Real Estate Agent. Go To http://RealEstateMarketingThisWeek.com
Part 4 (Excerpt)
If facing foreclosure call a short sale expert and get working on your short sale today
The lenders, its the loss mitigation departments that youre dealing directly, with the two of you doing the negotiations on behalf of the homeowner. Good, and then do you contact the lender immediately when someone calls you, and were going to talk about when they should call you in just a few minutes, but when the homeowner calls you do you immediately contact the lender and find out when the foreclosure date is and try to get that pushed back?
We do that as soon as possible, we can check the foreclosure date on tax records, if there is one that has been set, but there is some paperwork that is involved before we can contact the lender, because the lender will not just speak to anyone on behalf of the homeowner. You can get a lawyer and they will not talk to your lawyer unless they have authorization in writing from you the homeowner to speak about their financial situation and their mortgage on their behalf. So we do have some paperwork that we have clients do and the first thing is the authorization letter, as soon as we have that we can begin speaking to them on your behalf.
So Kalyn the next question is, when should someone start the process? Now. Honestly if youre listening to us right now and this is striking any sort of nerve you should be calling us. If you have concerns about being able to afford your home, or you cant sell it, if youre in a situation like going through a divorce, going through relocation like Jeri mentioned, all of these situations are possible short sales and you definitely should be on the phone now because too many times we see where people are in denial of whatever the situation may be and finally they are two weeks before foreclosure date and they are calling us.
We dont have enough time with just two weeks. There is too much involved for us to get the foreclosure extended, get an offer, get all the things that are included when you only give us to weeks, and then where are you, a lot of the time they dont even have a place lined up, and if you have a foreclosure on your record its a lot harder to get a rental.
Yes the foreclosure has significant impact on your credit report where as a short sale could be potentially much better. Maybe the foreclosure process will be started during the short sale process but not having it completed is better than having an actual foreclosure on your record.
Absolutely, the foreclosure proceedings started will not even show on a credit check if a landlord or a management company is pulling your credit to approve you for a rental, but its the worst thing in the world if you have gone through a foreclosure and youre just now calling us. I have some clients who need to be in a house this weekend and they have a foreclosure. They contacted me after the foreclosure had gone through and you would think that people would understand with the number of foreclosures going on that would not be as harsh on your credit but its. Were having a really difficult time finding landlords that will accept people who have foreclosures on their credit.
Me as a landlord, my wife and I have several rentals and I were to look at a credit report and see that a foreclosure proceeding had been started but the homeowner and potential renter says, we started it but we were able to sell the house short so we didnt have to go ahead with the foreclosure. That absolutely would be someone that I would consider over someone that had a foreclosure because it shows that they care, they certainly tried their very best, so I would think that is a great situation to be in. So two weeks left before your sale date is too late, its not going to work out.
Well I have recently done one in ten days. So it can be done, I had a one ten days before the foreclosure date and I had the bank put out the foreclosure date about a month and a half and we will close a short sale on that. 90% of the time though we wont be able to help you with that little of time.
Well the hardest part about the process is the beginning process, getting the lender to even acknowledge that they have received the authorization letter or the information packet that we have sent, the financials and the offer. You have to understand that lenders have thousands of foreclosures going on and they may have 20 bulk fax machines in their offices and as the paperwork comes through if its not that persons paperwork it may get tossed. That process alone can take 30 days before they even tell us they got what they need. 
Facing Foreclosure on Your Real Estate Mortgage, Short Sale & Loan Modification are Alternatives. Hire an Expert Short Sale Negotiator, Experienced Real Estate Agent. Go To http://RealEstateMarketingThisWeek.com
Part 3 (Excerpt)
Short Sale Objections, Advantages and Hardship Letters; Keeping the Home Owner in the Home helps fight vandalism
One of the things I mentioned at the beginning of the last segment is this special allotment of funds that we received from one of our mortgage banks that we currently have available, a 30 year fixed, no pre payment penalty this is the real deal just what youre looking for a 4.875% interest rate with an APR of 4.95% and that is available we do have people at the office right now if you have questions in regard to that they can answer them for you. You would call 480-Velocity
Michael, I have some clients who are buyers that would love that rate. Is that available to buyers as well? Actually, yes its that rate is for a no cash out refinance, no higher than 80% LTV, they have to have perfect credit to hit this number but even in some cases, well with this particular loan there are some closing costs, but one of the things we have available too is a no cost option and that interest rate is for people who are doing the purchase or refinancing and that rate is only 5.5%. The interest rate is 5.5% and the APR is 5.5% so that is for purchase money as well.
Were back talking here with Jeri League and Kalyn Roberts, were talking about the objections to doing short sales, there is another one you wanted to point out Jeri?
Yes, one more objection that people often have when we talk to them about their particular situation is that people feel that they have to be behind on their mortgage payment in order for a bank to consider a short sale and that is not true, the bank analyses everyones entire situation, we have people write a hardship letter, they want to see your financials and there is an entire situation not just being behind on your mortgage payment.
Your hardship may be that youre being relocated by your employer and you simply cant sell your home for what you owe on it due to todays market conditions. The banks will definitely look at that.
People think that the key is that you have to be late but that is not the case. That is really good to know, so we talked about the objections or the pitfalls rather what about the advantages to doing a short sale?
The biggest advantages to doing a short sale are: that its less impactful on your credit typically than a foreclosure and one of the most exciting benefits is that we can often extend the foreclosure and keep you in your house longer. In Arizona banks have a right to start a foreclosure as soon as youre over 30 days late on one mortgage payment. In todays current economic situation most banks are not starting that process for three to six months, but again that is most banks. They can start after one month.
Yes, but once they start the foreclosure process its a 90 day process in Arizona. So you will get a notice that says basically you have 90 days to come current with the note or to move and they are taking your house and selling it in 90 days. Now once we start the short sale process many times we can extend that foreclosure date.
I have personally done one that we had the home owner in for almost a year from when they stopped making their mortgage payments. Its not uncommon to be two or three months past the original foreclosure date that they gave you which of course gives people a lot longer time to decide what they are going to do, especially if its a family, they are not in such a rush to move, they can keep their kids in the same school district, there are so many reasons that that is a good advantage.
So Kalyn the truth is that homes that are occupied generally are better off and easier to sell than vacant homes right? So long as people are in the house and taking care of the house, if the house looks lived in but not trashed. What youre saying is lenders would just as soon leave them in the house then to have it vacant and potentially vandalized.
Definitely, the lenders prefer to have somebody living in there because they are taking care of the home, like you just said when the homes are vacant there is a high risk of them being vandalized, unfortunately and the worse the economic situation in the country gets the higher the vandalism rate on homes goes. In fact we were talking with a realtor in our office who typically takes listings in some of the lower income areas in town and they are going to stop putting signs on vacant listing because they are getting vandalized so much. 
