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Category: Short Sale Programs

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.

Do You Want To Do A Short Sale With Multiple Mortgages? We Can Help You!

March 19, 2012

Shawn Polston here with TucsonShortSale.com at Keller William’s Realty in Tucson. We’re Tucson’s top short sale team. Today I wanted to talk to you about short sales with two loans.

First of all I wanted to let you know that we are more than happy to take these files on. It’s not uncommon that I have a client that has two mortgages on their property. They may have talked to some other real estate agent that has told them they don’t handle those or they gave them the impression that the lender doesn’t allow short sales with more than one mortgage.

We get short sales with multiple mortgages done all the time. Whether the situation entails both mortgages with the same lender or the two mortgages are held by different lenders, we can get these completed for you.

We’ve also dealt with situations where there have been three mortgages on a property and were also successful with that situation. We have experience in dealing with many different types of situations: two mortgages and an HOA lien, two mortgages and a judgment or two mortgages and an IRS tax lien. We are very familiar with how to work out all of these options, who the parties are that we need to speak to in order to get these things resolved and how things work together.

I would love the opportunity to sit down and discuss your situation with you and really explain the options and expectations of going through the short sale process with multiple loans. I’m sure you have more questions, so please feel free to check out the other videos on my website, call me, email me or fill out the Short Sale Request form at the top of my webpage. I look forward to speaking with you about your financial situation and helping you determine if doing a short sale is in your best interest financially.

Important Information For FHA And VA Short Sales

March 7, 2012

Shawn Polston here of TucsonShortSale.com and Keller William’s Southern Arizona in Tucson. Today I wanted to talk about FHA and VA short sales. Compared to other "regular" short sales, these are completely different. There are certain nuances to doing these short sales and because of this I wanted to give you a few pointers and questions for when you’re looking around for someone to handle your short sale transaction should you have this type of loan. Being government loans, they’re actually not referred to as short sales.

With VA loans they are referred to as a compromise sale and with FHA loans they are called pre-foreclosure sale program. One of the major things with a VA short sale is that they will give the borrower up to $1500 in relocation assistance, however they don’t automatically do it. Your agent has to make the request, otherwise you won’t get it. The other thing about a VA short sale, you can no longer have another VA mortgage unless you pay them back for the short sale. This doesn’t mean that you can never get another mortgage, you just lose your VA eligibility until you pay them back for the home that you had to do a short sale on. If you’ve got a VA loan and you’re considering a short sale, make sure whoever you are working with is aware of these things.

For FHA loans, the process is quite similar. When you get approved into their pre-foreclosure sale program, they give you an automatic $1000 if you complete the short sale within the first 60 days and then $750 if you complete it within 120 days. With FHA short sales there is no obligation to repay them to qualify for another FHA loan in the future. There are some other intricacies to getting those short sales done, but I just wanted to make sure that you knew the major points of these two different types should you be contemplating a short sale with one of these loans. If you have any further questions about FHA, VA, or traditional short sales, please contact us.

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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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