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Category: Short Sale FAQs

Is it Possible to Complete a Short Sale When You Have a Reverse Mortgage?

April 3, 2012

 

Hi there, I am Shawn Polston here with TucsonShortSales.com, one of Tucson’s leading short sale teams. I wanted to talk to you today about reverse mortgages and short sales. For those of you who are not aware of what a reverse mortgage is, it is a product, generally speaking for folks who are up there in years, and I think the requirement is over 65. Depending on how much equity you have in your property, a reverse mortgage will actually pay you every month. One of the things I have found out there in my looking around the internet is there are actually some people out there claiming that you cannot do a short sale on a reverse mortgage. Nothing could be further from the truth.

In situations where there is definitely some sort of hardship, the lenders are interested in doing short sales on reverse mortgages. Maybe something has changed, there has been a job loss, or unfortunately a death of someone who was involved in a reverse mortgage, chances are, your lender will work with you on your situation.

I wanted to get that out there and make sure you know that it is an option. If you have any questions about how short sales and reverse mortgages work, please do not hesitate to pick up the phone and give me a call. You can also fill out the short sale request form on our website. Again, I am Shawn Polston, one of Tucson’s leading short sale teams and we are here to help. I look forward to speaking with you soon. I hope you are having a great day, thanks.

We Can Answer All Of Your Short Sale Questions

March 29, 2012

Hi this is Shawn Polston with TucsonShortSale.com and Keller William’s Realty in Tucson. I just wanted to get the word out there that we have answers for all of your short sale questions. We can answer questions regarding how the short sale process works with your lender to how the entire short sale process works overall; we can sit down with you, explain everything to you and answer all of your questions.

Many people wonder why homeowners would do a short sale versus walking away from their home or why they would do a short sale versus a deed in lieu of foreclosure.

We have answers to your questions about loan modifications. If a loan modification may or may not be right for you we can help you look at the situation and assess what the outcome may be if you should pursue one. We have all kinds of information and articles about how deficiency with short sales work and whether or not the lender can pursue you. If they can’t, we can tell you how the tax ramifications will work.

Many things regarding the short sale process might need consultation or advising from either an attorney or a certified public accountant, but one of the things we can do is give you the information that is out there. We can also educate you about the different programs that are out there to help underwater homeowners.

If you are considering a short sale, a deed in lieu of foreclosure or a loan modification and you have any questions at all, please either give us a call or fill out the form on our website. Please feel free to check out our website further and watch any of our videos to further explain short sales. Thank you for visiting our website; we look forward to hearing from you and helping you get started on the road to successfully short selling your home.

Have You Been Told You Won’t Qualify For A Short Sale?

March 27, 2012

Hello everyone Shawn Polston here with Tucson Short Sales, your short sale specialist in the Tucson area, thank you for taking a minute to check out my blog today. I work with Keller Williams in the Tucson area and use my blog to provide valuable information for distressed property owners on their options for avoiding foreclosure. If you are behind on your mortgage, or have seen the value of your home greatly diminished, please give stop by my website or contact me today to learn more about your options.

For my blog today I wanted to talk about getting a second opinion if you have been told you don’t qualify for a short sale. It is not uncommon for a distressed property owner or someone looking over their real estate options to be misinformed by a family member or selling agent. Usually this misinformation is surrounding the short sale process or whether or not their Tucson area lender will even consider completing a short sale. What surprises me the most is when I talk to a homeowner who is behind on their mortgage and has been told they will not qualify for a short sale. It is very rare for a lender in the Tucson area to not allow a short sale when the homeowner is behind on their payments.

So if anyone has told you that a short sale may be difficult or that you may not qualify I urge you to contact me for a second opinion. I have the short sale experience with all of the Tucson area lenders to help get your distressed property sold in a hurry. Feel free to stop by my website or give me a call today to set up a free consultation. Thank you for your time today and I look forward to hearing from you soon at Tucson Short Sales.

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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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