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Tag: Shawn Polston

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.

By Understanding The Wells Fargo Short Sale Process We Can Help Ensure Success On Your File

March 13, 2012

Hello everyone Shawn Polston here with Tucson Short Sale and 502 Short Sales, your Tucson area short sale specialist, thank you for checking out my blog today. I work with Keller Williams Realty in the Tucson area and use my blog to provide up to date information on the short sale process. If you are behind on your mortgage or have seen the value of your home drop dramatically please visit my website or contact me today to learn more about your real estate options.

For my blog topic today I wanted to discuss working with Wells Fargo on a short sale in Tucson and some of my recent experiences. Wells Fargo has a very big presence in both Tucson and in the short sale world so naturally it is normal to hear both good and bad things about working with their team. Because Wells Fargo handles so many short sales across the country they have in place very specific guidelines that must be followed in order to get a short sale approved. By no means are the hard to work with but it’s important that you are on the same page with how their short sale team operates. I have had great results with Wells Fargo and I know they have helped numerous Tucson homeowners get out from under their distressed property.

Thanks to my years of experience working with Wells Fargo on short sale files I have built some great relationships with members of their staff. So if you have a mortgage with Wells Fargo please contact me today in order to discuss your options for avoiding foreclosure. If your home is underwater in the Tucson area I am the right agent with all the answers for you. Thank you for your time today and I look forward to hearing from you soon at Tucson’s leading short sale specialist.

What You Need to Know About the 2012 Short Sale Tax Changes and the Mortgage Debt Forgiveness Act

December 20, 2011

Hi, this is Shawn Polston with 520shortsale.com where we are Tucson’s leading short sale team. I wanted to talk to you about something that I’ve been getting a lot of questions about lately. That is an eminent change to the tax code in the way forgiveness of debt is going to be handled with both short sales and foreclosures. After you complete a short sale, the lender is required by the IRS to issue a 1099 for the amount of debt forgiven. One common misconception is letting a house go to foreclosure changes that. It actually doesn’t. Instead it increases the amount of the 1099 typically. Typically the lenders have more costs associated foreclosures they also sell the properties for less than what we sell them for in the short sale. Back in 2007 President Bush put into place the Mortgage Debt Forgiveness act which covers you in certain situations. This can cover people from any tax liability on that 1099. In 2010 it was renewed by President Obama and it’s scheduled to go away at the end of 2012. The reason this is important is my typical short sale process takes from 3 to 6 months to complete. Sometimes it takes more or less time.

If you’re in a situation where you’re trying to decide if you should walk away from that house or you do a short sale, it’s taking the average lender 12 to 15 months to foreclose. One of the reasons I’m bringing this up is that by just simply walking away from the house you could miss out on the enormous tax savings that you’d have and get a 1099 for the foreclosure that you’re going to have significant tax implications on. I can’t tell you for sure if you would have tax implications, because a CPA has to look at your situation. The mortgage debt forgiveness act is pretty straight forward and you can read about it at IRS.gov. I’ll put a link to it on my website as well.

I’m sure you have other questions so don’t hesitate to call me or fill out the short sale request form. I really look forward to speaking with you and helping you out. Again, this is Shawn Polston with 520shortsale.com where we are Tucson’s leading short sale team.

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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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