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Category: Tucson Realtor

Will The Bank Come After You Once You’ve Completed Your Short Sale?

January 14, 2014

One of the questions I get asked the most often is whether or not the bank will come after you once you’ve completed a short sale. Honestly, it’s really hard to answer that question right now. Don’t let this deter you, however, because we’ll be able to fully answer that question once we get your short sale approved.

When you get your short sale agreement letter it’s basically a new agreement between you and the bank regarding the terms of your short sale. The short sale approval letters that we receive from most letters, 99% of the time they grant a full release of deficiency to the homeowner. Occasionally we run into the circumstance where there is a second mortgage where they may have rights to pursue you and it can make the short sale a little bit trickier but in the vast majority of our short sales, the seller ends up leaving the situation free and clear of any loans on the property.

What I’d like you to do is contact me so that I can get a complete understanding of your situation and your scenario. When your loans were taken out, if there was cash taken out, if the loan was ever refinanced – all of these things impact how this one question gets answered. Don’t take a blanket statement as the correct answer for your situation because it hinges on several different things. You can fill out the short sale request form on our website or pick up the phone and give us a call so we can talk to you about your situation and educate you on the different things that are out there. We also have legal resources that you can speak to, to answer this question a bit more concretely. The biggest thing is to not do nothing; do something by giving us a call or filling out the short sale request form and we’ll be in touch soon.

Frustrated Homeowners Tired Of Wasting Money Turn To Strategic Default

January 7, 2014

Hello everyone Shawn Polston with Keller Williams Realty in Arizona talking with homeowners today about strategic default. This is a topic that many homeowners consider when their mortgage is underwater but it’s important to know your options and their effects before making a decision. If you have questions about your distressed property or have already missed a mortgage payment please give me a call or visit my website to discuss your options.

A strategic default occurs when a homeowner who is able to make their mortgage payment walks away from the home and decides to default on their mortgage. Homeowners who have seen a severe drop in their property value over the last few years have made this decision after throwing away money for months or years. If you are considering a strategic default I would love to opportunity to talk with you about all of the options you have for your distressed property. There are numerous reasons for completing a strategic default, whether it’s moving to a new home or town or to avoid wasting money, but there may be a better option for you to consider. Many homeowners who have decided to complete a strategic default may have missed out on the opportunity to complete a short sale. Many lenders currently are allowing homeowners to complete a short sale without ever missing a payment on their mortgage. After all that has occurred I feel no sympathy for the banks but want to help homeowners protect themselves for the future and make the best decision available. Even if a strategic default is the option you select it is important to know what this could mean for your long term credit and loan standing. Thanks to state and federal programs homeowners who are stuck with underwater mortgages have options to consider before walking away.

Please give me a call today if you are frustrated with making payments every month with no sign of home equity in the future. I offer any homeowner a no obligation free consultation in order to help them find the best solution to their property problem. Thank you for your time and I look forward to hearing from you in the future at Keller Williams Southern Arizona.

Ask The Right Questions When Making Your Choice For A Tucson Realtor

December 9, 2013

If you are considering a short sale make sure you find a Tucson realtor with the experience to help you sell your home fast. Any Tucson real estate agent can handle your short sale file but if they don’t have experience they may simply be wasting your time. Shawn Polston has been helping homeowners in the area for years avoid foreclosure and take advantage of their current real estate options.

Most homeowners select their Tucson realtor thanks to a referral from a friend or co-worker without doing any research. A short sale is not your normal real estate transaction and for this reason it is important to know your Tucson real estate agent has the knowledge and experience to help. For this reason it may be best to learn some important facts about any potential Tucson realtors that you hire. One of the most important things to know about your Tucson realtor is their success rate on short sale files. If your short sale agent is not selling the homes they list at a high rate they could be wasting your time. An experienced and educated agent in the area should be able to close over ninety percent of the short sale files that they take on. It may also be a good idea to learn how many home sales your Tucson realtor handles every week. A short sale requires nearly daily contact with your lender and if your agent is too busy it could impact your sale. Especially for those homeowners who have missed multiple payments and have a foreclosure date that is nearing. Some Tucson realtors even utilize a team of agents for short sales in order to ensure that every file is handled in a timely manner.

Your short sale is a very big opportunity to avoid foreclosure and get out from under your mortgage debt which is why a qualified agent is necessary. Put in the time to find the best agent for your current needs that will help sell your home fast and for the highest and best offer.

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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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