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Category: Tucson Homeowner Help

How Exactly Does A Short Sale Agent Get Paid?

March 21, 2013

Hello every Shawn Polston here with TucsonShortSale.com and Keller Williams Southern Arizona wanting to talk with you today about short sales. I use my blog to keep distressed property owners informed on their options for avoiding foreclosure including the possibility of a short sale. If your mortgage is underwater and you are struggling to make your monthly payments please visit my website or call me directly to chat with an expert. If you have already missed a payment please don’t hesitant to contact me in order to protect you from any future damage.

Today I wanted to talk with homeowners about a question that I get asked frequently by my clients. Given that I always tell my clients they will never pay any out of pocket fees for my service they are usually curious as to how I get paid. While some short sale agents will charge up front fees my commission is taking at closing from the selling price of the home. Any additional escrow or other possible fees are also deducted at this point in order to keep money in your pocket after a short sale is complete. I closed my first short sale in 2003 and have never charged anyone in distress a single upfront fee for my service. Our team is results based and if we cannot accomplish that goal we do not deserve to be paid in my opinion. This is nothing against Southern Arizona agents who charge upfront fees but I am here to help homeowners in need and this is one way of doing just that. Even if you just have some questions about your mortgage or your lender I am more than happy to share my experience and knowledge to help provide you peace of mind.

If you are facing foreclosure or simply need to sell your home please contact me right away to discuss your options. Make sure to stop by my website and try our Short Sale Calculator to find out when your home may be worth what you owe. Thanks for your time and I look forward to helping you in the future with your real estate needs.

Short Sale Specialist Discusses Credit Effect after a Short Sale

January 11, 2013

Hi there, I’m Shawn Polston with TucsonShortSaleNegotiator.com and Keller Williams Realty. We are one of Tucson’s leading short sale teams. I wanted to talk to you today about the question that often comes up and it’s really an interesting question. The answer is really vague and it’s about what impact a short sale will have on your credit. This is really a loaded question because the way credit scores are calculated is actually a closely guarded secret. There are a lot of variables that go into what the impact is going to be on your credit score. One of the things I can tell you is that we have had clients that we have done short sales for and they have been current on their payments. It actually worked out where we could get a short sale complete and they didn’t have to go behind on their payments. It actually goes to their credit report as a settled account. Meaning their lender and them worked out an agreement. It might have affected their score by 50 points. They’re paying all of their other credit and what they tell me is their credit score recovers rather quickly.

I’ve also had situations where borrowers have gone late or stopped paying their mortgage. The impact to the credit report in some cases hasn’t been too much and in some cases it has been a lot. One of the things there is it becomes a question of how much credit do you have. If you have 10 accounts and you have one account that you aren’t paying on, it won’t have as big of an impact as it would be if you have two accounts and you are late on one of them. All clients typically find out that their scores start to recover and increase after the short sale is complete.

The biggest myth I hear out there is that a short sale is going to have an enormous impact on your credit. In most cases, where that comes from is you have a borrower that has serious financial problems. Actually, it’s not just the mortgage that’s not being paid on the home. They may have two mortgages on the home that are not being paid; they also have several credit accounts that are not being paid. So really they are not paying any of their credit. When that’s the case, the credit score is going to have an enormous impact. people usually blame the short sale for the drop in credit and the short sale is a piece of that but really what it is, is that all their credit is not being paid is why it has an enormous impact on their credit.

The way credit scores are calculated is a closely guarded secret, and that’s how those industries make their money. Again, I’m Shawn Polston with TucsonShortSaleNegotiator.com, one of Tucson’s leading short sale teams and I’m here to help. So I hope you are having a great day. If you have any questions, feel free to pick up the phone and give us a call. Thanks and we look forward to speaking with you soon.

Are You Looking For A US Bank Short Sale Specialist In Tucson?

December 11, 2012

Hello again and welcome, this is Shawn Polston with TucsonShortSales.com and Keller Williams Southern Arizona in Tucson. I wanted to talk to you today about doing a short sale with US Bank. They’re a good size bank and one of the most well known banks in the country. We do business with them quite a bit and have completed many short sales with them.

US Bank is a great company to work with because they get things done. One of the big things about working with US Bank is that they do have a system and a process to being successful with them. One of the main points to remember if you’re thinking about a short sale with them is to make sure that you have an agent that’s familiar with the US Bank short sale process and that can properly handle your short sale for you. You need to ensure that your real estate agent is familiar with short sales in general and that they can give US Bank what they need to have a successful short sale with them.

If you have any questions about doing a short sale with US Bank or need help with one of their loans, please do not hesitate to give me a call or fill out the short sale request form on TucsonShortSale.com. I’d also like to encourage you to check out my short sale decision calculator. If you use this neat tool it can tell you how much your property is worth, how underwater you are on your home as well as how much time and money it will take you to break even again. It’s a great tool that a lot of homeowners in the Tucson area are benefiting from, so if you’re facing foreclosure and considering a short sale, or if you’d just like to know where you stand with your home, check out the short sale decision calculator on my website. Thanks again for coming to TucsonShortSale.com.

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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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