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After I Complete A Short Sale How Long Do I Have To Wait To Buy Another Home?

August 25, 2011

Hello this is Shawn Polston with Tucson Short Sale Negotiator, thank you for checking out my blog today. Having worked on short sales in Tucson for a while now one of the biggest concerns a homeowner will have is when can they buy a home again after completing a short sale or foreclosure. For today’s blog I will be including some great information from a conversation I had with Tom Heath on this subject. Tom is an expert in the mortgage industry and has twelve years of experience working with homeowners to educate them on how the lending process works and how a persons specific financial situation will affect their mortgage. In talking with Tom one thing he stressed above all others is that there are general guidelines but every person has a unique situation which garners a unique result. According to Tom someone who completes a short sale will have to wait roughly three years before being able to qualify for a mortgage again. In the case of a foreclosure it can take up to seven years. Tom also pointed out that a big determining factor is how many mortgage payments were missed during the short sale. In a short sale the biggest damage to your credit is how many mortgage payments are missed not the actual short sale of the property. In fact, Tom even shared a story about a client who was able to get a mortgage only months after finishing a short sale. According to Tom if your credit is in good standing after a short sale it falls on the bank to determine if a customer is too risky or not. I’m sure many of you have questions in regards to your specific situation and I would be happy to answer them. Please visit my website or contact me today to set up a free consultation. If you have questions specifically for Tom Heath I would be more than happy to get you in contact with him as soon as possible. Thank you for tuning in to Tucson Short Sale Negotiator and have a wonderful day.

Some Important Traits To Look For When Searching For A Short Sale Agent

July 20, 2011

Hello everyone this is Shawn Polston with Tucson Short Sale Negotiator, thank you for joining me today. Today I wanted to discuss what kind of questions you should ask and what you should look for in a short sale agent. I travel across the country to seminars and training sessions and have met numerous different agents with several different strategies. Often times when meeting with people in the Tucson area I end up referring them to a short sale agent in a different part of the country so I often interview short sale agents just like you the homeowner. Some of the things I always look for is a proven track record of short sale approvals and how many short sales are they currently working on. If a short sale agent isn’t working on files on a consistent basis it is very easy to lose touch with the ever changing short sale process. Currently my team is negotiating over fifty short sale files and are in the trenches day in and day out working for our clients. Also, be wary of any certifications or designations that a short sale agent adds to their title. Some of these designations only require three hour seminars or merely watching a few DVD’s and cannot match up with years of experience. If you are in the Tucson area and have short sale questions I encourage you to visit my website or contact me today. Even if you are outside of Tucson we have several credible short sale agents around the country we can refer you to for your short sale. Thank you for your time and have a wonderful day.

What You Will Need To Know To Get Started On A Short Sale Today

June 23, 2011

Hi there I am Shawn Polston with Tucson Short Sale Negotiator and Keller Williams Tucson. Today I wanted to talk about getting started on a short sale and what you need to know about the first few steps. Hopefully you have watched some of my video blogs to help answer some of your general questions about short sales and feel confident that this is the right choice for you. One of the first things you will need is a run down of all the documents your bank will request in order to initiate a Tucson short sale. Included in these documents you will need two years of tax returns, two months of bank statements, and pay stubs for your last month of work. The most important document will be a letter of hardship. This letter of hardship will briefly describe your situation and why the bank should consider allowing you to short sale your home. If you are unsure about what to write we can certainly provide some assistance but it is important to remember this letter is just to provide the facts to your bank. I recall the first short sale I ever closed the gentleman simply wrote,"My hours have been cut at work, I am not making as much money, please consider me for a short sale." By having this paperwork all set up it will take a lot of the guessing out of the short sale process for you the homeowner. If you would like to get started or have specific questions please give me a call or send me an e-mail. I look forward to hearing from you.

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About Shawn Polston

Shawn has been a Realtor since 2006. Prior to becoming an agent Shawn and his wife were active real estate investors. Shawn takes his education seriously; he’s taken over 200 hours of continuing education classes, to keep up-to-date on current laws and trends. Shawn is a member of the Arizona Association of Realtors Master of Real Estate Society and a Graduate of the Realtor Institute. He is also a HAFA certified Short Sales and Foreclosure Specialist in addition to being a National Association of Realtors Short Sale and Foreclosure Resource.

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