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Category: Short Sale Programs

Freddie Mac And Fannie Mae Short Sales Require Special Knowledge

April 18, 2013

Today on TucsonShortSaleNegotiator.com I wanted to talk to you about Fannie Mae and Freddie Mac short sales. Fannie Mae is the largest owner or investor of mortgages in the country; I’m unsure of what the percentage is that they own, but I can tell you that it is extremely high. Freddie Mac is the second largest owner or investor of mortgages in the country. If your loan is owned by either of these and you’re considering a short sale, it doesn’t matter who your lender is, Fannie Mae or Freddie Mac have very distinct processes for their short sales. Again, it doesn’t matter who your lender or your servicer is, but they are supposed to follow these processes to get the short sale done.

One of the big things in success or failure with your short sale is that you need to hire an agent that understands how to figure out if it’s a Fannie Mae or Freddie Mac loan and how to work with them. While the short sale information might be going to Bank of America, for example, if it’s a Freddie Mac or Fannie Mae loan, there are just certain requirements that Bank of America has to follow. Going into the short sale with your eyes wide open and knowing how to deal with them will reduce the amount of time it takes to get your short sale approved; your chances of getting short sale approval go way up.

We typically have over a 90% approval rating on our short sales and there’s a reason for that. We’ve learned how these lenders and investors work; we’ve worked with them in the most efficient manner possible so that they can get the short sale done for you. If you have a Fannie Mae or Freddie Mac loan and have questions about getting a short sale done with them, please pick up the phone and give us a call.

Tucson Short Sale Specialist and Chase Short Sales

April 11, 2013

Hi there, I’m Shawn Polston with Keller Williams Southern Arizona and 520ShortSale.com. I wanted to talk to you today about my friends over at Chase Bank and Chase short sales. Chase is a company we have worked well with for years and years and years. One of the most interesting things about Chase and working with Chase on short sales is actually how consistent they seem to have been able to stay over the years. I remember doing short sales with Chase back in the early 2000s or mid 2000s and here we are in 2013. Their processes and their timeframes and how you get things done with Chase have not changed. We do a great job in getting short sales done with Chase. We know who to talk to over there so if there are problems or issues that arise; we know how to get past those problems. I know you are going to have other questions, so what I encourage you to do is pick up the phone and give us a call. You can also fill out a short sale request form and we will talk to you very soon.

Active Duty Military May Qualify For Compromise Sale And Relocation Incentive

April 1, 2013

Hello everyone Shawn Polston here with TucsonShortSale.com and 520 Short Sales thank you for your time today. I work with Keller Williams in Southern Arizona and use my blog to share my experiences with distressed property owners who are looking to avoid foreclosure. If you can no longer afford your mortgage or just need to sell your home fast please fill out a contact form on my website or call my office today to chat with an expert about your options.

For my blog today I wanted to talk with any military members that have a VA loan about their specific short sale process. I have a lot of experience getting short sale approvals for active duty military members but the short sale process can be very different with the VA. The VA actually refers to their short sales as a compromise sale and they generally go very smoothly for active duty members who have been relocated. Even if payments are current you will likely be able to complete a compromise sale if your mortgage is underwater and you have an acceptable hardship. The VA will do a full appraisal of the property and will certainly expect us to get an offer near the market value that they come up with. One of the nice things about the VA program is the fifteen hundred dollar relocation incentive available at closing. This is literally free money but your agent must ask for the incentive or it will not be granted. If you are received your papers for relocation and need to sell fast please contact me today to get your VA compromise sale started.

I have worked on numerous VA compromise sales and can focus on selling your property while you prepare to move. Call my office today or fill out a contact form on my website if you have any questions about whether or not you will qualify for this great program. Thank you for your time and I look forward to hearing from you soon.

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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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