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Category: Short Sale FAQs

Active Military Short Sale Information

June 28, 2012

Hi there, I’m Shawn Polston with TucsonShortSaleNegotiator.com and 520ShortSale.com, with Keller Williams and your Tucson short sale specialists. Today we have breaking news from the Federal Housing Financing Agency. The Federal Housing Financing Agency has a great deal of control they exert over our friends at Fannie Mae and Freddie Mac. Today they just announced something very important to members of our military. They have made some changes in that if you are a member of the military and you have received a permanent duty station change and you have your orders and you are going to have to move, even if your mortgage is current, that is considered a legitimate hardship for the purpose of a short sale. Not only does this guidance say they have to process your short sale but they also have to completely relieve you from the debt if your loan is owned by Fannie Mae or Freddie Mac.

If you have questions about whether or not your loan is owned by Fannie Mae or Freddie Mac and is this program going to qualify? I have very easy access and a very easy way to determine if that’s the case. I encourage you if you know you have a permanent duty station change coming up and you have a house that is underwater or even if it’s not under water, we are here to help you with getting you out of that house and getting you moved on.

Again I’m Shawn Polston with your Tucson short sale specialists and we’re here to help answer any questions you may have. Please feel free to fill out my request form on this page or give me a call today. Thanks and I look forward to speaking with you soon.

Bank of America is Offering Incentives to Customers who complete a Short Sale on their Homes

June 19, 2012

Hey there, I’m Shawn Polston with 520ShortSale.com, from Keller Williams and your Tucson short sale specialist. I wanted to talk to you today about my friends at Bank of America and short sales. Bank of America just released a brand new program. If you have a Bank of America loan and you have been having trouble with your payments or maybe even not, you may be receiving a letter in the mail that looks something like this. I’m putting this out there to just emphasize the importance of opening your mail from your lender because Bank of America has a limited time program that they are going to start paying owners to short sell their homes and giving them between $5,000 and $30,000 worth of relocation assistance. It’s an invitation program; it’s something that you need to receive one of these letters from them. My staff and I also have the ability to check within their system and communicate with them to see if you would in deed qualify for this program.

This is really an amazing thing, we have seen it from a couple of other lenders out there and it’s really a great step on Bank of America’s part to helping their customers and helping their homeowners in need. Also, I just want to get it out there that if you do receive this letter, it is definitely the real thing and this program does exist.

Again, I’m Shawn Polston your Tucson short sale specialist and I encourage you to ask any questions you may have about this program. We are here to help in any way that we can. Please give me a call today or fill out my short sale request form on top of the page and I look forward to speaking with you soon. Thanks and have a great day.

What Should You Expect While Working With The FHA On A Short Sale

June 12, 2012

Hello everyone Shawn Polston here with Tucson Short Sale Negotiator and 502 Short Sales thank you for your time today. I work with Keller Williams Realty in the Tucson area and use my blog to share valuable content with distressed property owners on their options for avoiding foreclosure. If you are behind on your mortgage or already considering a short sale please take a minute to browse my website or give me a call to learn more about your options.

For my blog today I wanted to talk about completing a short sale through the FHA and what to expect while working with their staff. Because I am working with different lenders and investors every day I always try and keep homeowners informed on my experiences and how long your short sale could take. Currently the FHA is overwhelmed with short sale requests and has not been afraid to be upfront with agents about that. Because the FHA is an investor on mortgages with numerous different Tucson banks this is no surprise. I like to share this information that way homeowners have the proper expectation of how long a short sale will take to complete. From the time the FHA receives your short sale packet it is taking them one to two months to review and approve your packet. Once your packet is reviewed and approved it may take an additional six to eight weeks for the FHA to approve the offer on your Tucson home. This is nothing out of the ordinary and our team works to make this process as short as possible but it’s best to have a realistic outlook.

If you have any real estate questions surrounding your distressed Tucson home please give me a call today to arrange a free consultation. I hope your having a great day and I can help you with all of your real estate needs.

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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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