Tag: Shawn Polston

Tucson Real Estate Agent Offers Unique Mortgage Tool

Are you in a situation where you’d like to sell your home but aren’t exactly sure if you have enough equity in it or are still underwater? If so, one Tucson real estate agent has a tool that you might be interested in finding out more about. On his website Tucson real estate agent Shawn Polston offers homeowners a Short or Stay Calculator for use, free of charge. This calculator, which no other Tucson real estate agent has to offer, can help you determine just how much equity you have in your home. If you should happen to be underwater it can tell you how much time and money it takes until your home will be an asset again and you can complete a traditional real estate transaction on it. Of course, if you need to sell and are underwater, Tucson real estate agent Shawn Polston can also help you complete a short sale.

“So, how does it work?” you may be asking yourself. It’s simple, really. All you need to do is enter in your address, current principal, monthly mortgage payment and interest rate. From there, the calculator will do the rest and you’ll receive an email outlining just how much equity or how underwater you are on your home. If you’re underwater, you can see just how much time and money it will take until you do have equity again. From this report many underwater homeowners will then decide if it is better financially for them to stay in the home and wait to have equity or if they should just complete a short sale.

Tucson real estate agent Shawn Polston recommends that all homeowners considering a short sale try out this calculator to help them fully evaluate their situation before making a decision. If you have additional questions or have tried out the calculator and determined a short sale is right for you, contact Tucson real estate agent Shawn Polston today to get the ball rolling on your successful short sale.

Tucson Real Estate Agent Discusses Short Sale Process

Are you one of the many homeowners that is still, unfortunately, underwater despite the increase in home values and prices. Tucson real estate agents want you to know that while the housing market is recovering, the option to complete a short sale on your home is still available. If you’re unfamiliar with the short sale process, Shawn Polston, a Tucson real estate agent with years of short sale experience is here to enlighten you and help you determine whether a short sale is something you’re interested in doing.

In a nutshell, short selling your home entails asking your lender (via your Tucson real estate agent) for permission to sell your home for less than what you owe. While the process is much more in depth than this, if you are approved for a short sale it simply means that your lender says you can sell your home for less than what your current principal balance is.

One of the first things you’ll do in the short sale process, says Tucson real estate agent Shawn Polston, is assemble your short sale package. This package is submitted to your lender and contains financial documents, a hardship letter and other lender specific forms; it shows your lender just how much you can’t afford your home or why you need to complete a short sale. Once this is submitted to your lender they will either approve or deny your short sale. If you work with an experienced Tucson real estate agent like Shawn Polston, the chances of approval are great. After getting approval, the bank will order an appraisal on your home, a listing price will be determined and a buyer secured. Once the buyer places an offer on your home your Tucson real estate agent will negotiate the details of the sale with your lender, not with the buyer’s agent.

Selling your home via short sale is a great alternative to foreclosure or to get out from underneath your mortgage. For additional information and to learn more about the short sale process with your lender, contact a Tucson real estate agent that is experienced in short sales.

Tucson Real Estate Agent Discusses Short Sale Package

Are you considering completing a short sale with your Tucson real estate agent, you’ve heard about the short sale package you need to submit and are now wondering what documents need to be included in the short sale package? Tucson real estate agent Shawn Polston with Keller Williams Southern Arizona would like to help you get started on the process of compiling documents for your short sale package. We’d also like to mention that if completing a short sale it is imperative you work with a Tucson real estate agent that is familiar with short sales and is current on processes to ensure that you are submitting the correct documentation.

A majority of lenders often require the same financial documents for their short sale package. These documents include bank statements, most recent paystubs, W-2s and tax returns for the previous two years. Tucson real estate agents say that some lenders also have their own specific forms that are required when submitting the short sale package. Also required by most lenders is the hardship letter. This is a letter written by the homeowner that outlines their situation and answers questions for the lender such as why they need to short sale and why they feel it is the best option for their situation. Tucson real estate agents can give you tips and pointers on writing the hardship letter as well as provide you with examples.

Submitting the short sale package is one of the most important pieces of the puzzle when completing a short sale. You want to ensure that everything submitted is complete and accurate or it could delay the processing of your short sale transaction. Again, this is one of the main reasons why it is so important that you work with a Tucson real estate agent that knows short sales. They can keep your short sale from facing any unnecessary roadblocks and make the process as seamless as possible.