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Tag: short sale agent

Be Wary Of Short Sale Agents Who Outsource Your Private Information To Third World Countries

November 13, 2012

Hello everyone Shawn Polston here with Tucson Short Sales and 520 Short Sales thank you for your time today. I work with Keller Williams Realty in the Tucson region and use my blog to keep distressed property owners informed on their options for getting out from under their mortgage debt. If you are struggling to make your mortgage payments or just need to sell your home fast please visit my website or call me personally to find out what options you have for avoiding foreclosure.

For my blog today I wanted to talk with Tucson homeowners about what to look for in a short sale team and some of the common trends I have been seeing lately that may be a risk for you. As short sales become more common across the country I continue to see more and more agents pop up trying to capitalize on the amount of distressed property owners in need of help. Unfortunately many of the agents, or teams, are only out to make a quick buck and do not have the best interest of you the homeowner in mind. From talking with Tucson homeowners and realtors I know that some of these upstart companies even outsource your file, and the private paperwork involved, to other countries. If you are a Tucson homeowner you need a Tucson agent that understands this area and will keep your private information in house and provide a full team of experts focused on getting your home sold. My team at Tucson Short Sales keeps all of your information in house from start to finish and have been getting short sales closed in this area for over four years.

Simply put, our team wants to share our experience and knowledge with you in order to make the best real estate decision that is available to you. As a long time Tucson resident I know this area, as a homeowner and as a realtor, and can help you get the answers and results for your distressed property needs. Please fill out a contact form on my website or call me directly today with any questions about getting out from under your mortgage debt. Thank you for your time today and I look forward to helping you in the future at Tucson Short Sales.

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.

Some Important Traits To Look For When Searching For A Short Sale Agent

July 20, 2011

Hello everyone this is Shawn Polston with Tucson Short Sale Negotiator, thank you for joining me today. Today I wanted to discuss what kind of questions you should ask and what you should look for in a short sale agent. I travel across the country to seminars and training sessions and have met numerous different agents with several different strategies. Often times when meeting with people in the Tucson area I end up referring them to a short sale agent in a different part of the country so I often interview short sale agents just like you the homeowner. Some of the things I always look for is a proven track record of short sale approvals and how many short sales are they currently working on. If a short sale agent isn’t working on files on a consistent basis it is very easy to lose touch with the ever changing short sale process. Currently my team is negotiating over fifty short sale files and are in the trenches day in and day out working for our clients. Also, be wary of any certifications or designations that a short sale agent adds to their title. Some of these designations only require three hour seminars or merely watching a few DVD’s and cannot match up with years of experience. If you are in the Tucson area and have short sale questions I encourage you to visit my website or contact me today. Even if you are outside of Tucson we have several credible short sale agents around the country we can refer you to for your short sale. Thank you for your time and have a wonderful day.

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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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