Facebook Linkedin Youtube Rss

Tag: short sale

Tucson Short Sale Specialist – Bank of America Short Sale

March 8, 2013

Hey there, I’m Shawn Polston with TucsonShortSale.com, and Keller Williams Southern Arizona. I wanted to talk to you about Bank of America short sales. A lot of people have Bank of America loans. They are one of the largest servicers out there. We work with Bank of America a tremendous amount. Whether you have an FHA loan or a VA loan, a conventional loan or another loan you might have, we have experience dealing with Bank of America. We also have a program with Bank of America that allows us to pre-screen you to see if you may qualify for one of their incentive programs. In some cases in Tucson is they are willing to offer $3,000 to $7,000 in relocation assistance. We have been very successful with accomplishing these types of sales with Bank of America and we have a very good working relationship with them. I attend all kinds of trade shows and have met a number of the higher executives at Bank of America. One of the things about Bank of America is that they really do want to help you. If they can help you get out of your house by doing a short sale, they are really wanting to do so. It doesn’t mean they will give you a decision in a day, but they are being very proactive in these short sales. They have had some kinks in their FHA short sale program which tend to take a little bit longer than the other short sales with them. They are working to get those worked out. I commend them on knowing they have something to address there. If you have a Bank of America loan and you are considering doing a short sale, please give us a call. I encourage you to fill out my short sale request form and we’ll get back to you as soon as we can. Thanks and we look forward to speaking with you soon.

Does A Deed In Lieu Of Foreclosure Really Help You In The Long Run

April 17, 2012

Hello everyone Shawn Polston here with Tucson Short Sale Negotiator, your top short sale team in the Tucson area, thanks for checking out my blog. I work with Keller Williams Realty in the Tucson area and my team and I are here to help distressed property owners avoid foreclosure on a daily basis. If you have questions on your underwater mortgage, or if you are already considering a short sale, please take a minute to browse my website or call me directly to discuss all of your Tucson real estate options.

Today I wanted to go over the option of a deed in lieu of foreclosure for Tucson homeowners who can no longer afford their mortgage or have stopped making payments. Lately I have had a lot of homeowners ask me whether this is a smart option to consider for getting rid of their underwater mortgage. A deed in lieu of foreclosure simply means you sit down with your lender and sign over your property to the bank. It is essentially a voluntary foreclosure and in most cases your lender may not be in favor of a deed in lieu. A homeowner has to qualify for a deed in lieu and it is possible that it may not help in the long run. Usually a deed in lieu will look the same on your credit as a normal foreclosure which is one of the reasons why I do not suggest them. In the case of a short sale, it will show up as a settlement of debt on your credit report and may inflict much less damage to your credit score.

If you are behind on your mortgage and unsure of your options give me a call today to figure out what is right for you. Stop by my website or call me today to arrange a free consultation to get you out from under your distressed property. Thanks for tuning in and I hope you have a great day.

If You Are Considering A Short Sale Act Fast To Save Money On Your Taxes

March 12, 2012

Hello everyone Shawn Polston here with Tucson Short Sale, your short sale expert in the Tucson area, thank you for stopping by my blog today. I work with Keller Williams in Southern Arizona and use my blog to provide distressed property owners with valuable information on their options for avoiding foreclosure. If you are behind on your mortgage or already considering a short sale please give me a call today to discuss your options.

For my blog today I wanted to discuss the Mortgage Debt Forgiveness Act and why time may not be on your side when it comes to tax breaks on your short sale. The Mortgage Debt Relief Act was put in place by Congress in 2007 to make sure homeowners who complete a short sale do not have to pay taxes on the debt that is forgiven in their short sale approval. The difference between the selling price of your home and the money owed on your mortgage is considered taxable income but thanks to this act of Congress if your short sale is approved by the end of 2012 you won’t pay any taxes. In order to qualify in Tucson the property must be your primary residence and may not sell for more than two million dollars. A typical short sale in Tucson takes four to six months to complete so it is important to start your short sale soon.

We may certainly be able to get a short sale completed quicker but you may want to start considering your options for your distressed property. If you live in the Tucson area give me a call today so we can discuss your options for avoiding foreclosure and saving yourself on taxes. Thank you for your time today and I look forward to hearing from you soon at Tucson Short Sale, Tucson’s short sale expert.

Stay or Sell?

Crunch the Numbers on Your Home Instantly!
Start Here

What is a Short Sale?

Start Here

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.

More About Shawn

© Polston Results Team – Tucson Short Sale Specialists