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Tag: Tucson

Do You Want To Do A Short Sale With Multiple Mortgages? We Can Help You!

March 19, 2012

Shawn Polston here with TucsonShortSale.com at Keller William’s Realty in Tucson. We’re Tucson’s top short sale team. Today I wanted to talk to you about short sales with two loans.

First of all I wanted to let you know that we are more than happy to take these files on. It’s not uncommon that I have a client that has two mortgages on their property. They may have talked to some other real estate agent that has told them they don’t handle those or they gave them the impression that the lender doesn’t allow short sales with more than one mortgage.

We get short sales with multiple mortgages done all the time. Whether the situation entails both mortgages with the same lender or the two mortgages are held by different lenders, we can get these completed for you.

We’ve also dealt with situations where there have been three mortgages on a property and were also successful with that situation. We have experience in dealing with many different types of situations: two mortgages and an HOA lien, two mortgages and a judgment or two mortgages and an IRS tax lien. We are very familiar with how to work out all of these options, who the parties are that we need to speak to in order to get these things resolved and how things work together.

I would love the opportunity to sit down and discuss your situation with you and really explain the options and expectations of going through the short sale process with multiple loans. I’m sure you have more questions, so please feel free to check out the other videos on my website, call me, email me or fill out the Short Sale Request form at the top of my webpage. I look forward to speaking with you about your financial situation and helping you determine if doing a short sale is in your best interest financially.

Make Your Decision Easier By Using The Short Or Stay Calculator

January 27, 2012

Hello there Shawn Polston here with Tucson Short Sales and 520 Short Sales thank you for checking out my blog today. I work with Keller Williams Realty in the Tucson area and my team and I specialize in short sales. I update my blog frequently to provide relevant content to homeowners looking to avoid foreclosure. If my blog is helpful today, or if you would like more information, take a minute to browse my website or contact me directly to discuss your options.

For my blog topic today I wanted to discuss a very common question that is very important to anyone considering a short sale. When I speak with a distressed property owner they always want to know what their home will be worth once the housing market improves and gets back to normal. It is a difficult question for anyone to answer but I have a new service on my website that gives homeowners a good idea of their homes current and future value. This service is called the Short or Stay Calculator and with some basic information about your mortgage this calculator can give you a snap shot of when your home will no longer be underwater. By simply entering your mortgage balance, current address, and roughly what your monthly mortgage payment is the Short or Stay Calculator will provide your homes value in different recovery scenario’s. The Short or Stay Calculator will show your homes value with slow, medium, or aggressive appreciation. The calculator will also show your continued cost of ownership in order to understand if it makes sense to stay in your current residence.

If you have any questions about the short sale process or the Short or Stay Calculator please give me a call and we can set up a free consultation. My team and I are committed to helping Tucson residents avoid foreclosure and make the best real estate decision available. Thank you for time today and I hope to hear from you soon.

To try out my new short sale calculator, click on http://tucsonshortsalecalculator.com/

Should I Pay My HOA Fees If I’m Facing Foreclosure or Short Selling?

December 23, 2011

Hi, Shawn Polston with Tucson Short Sales; we are your leading short sale team in the Tucson area. I wanted to talk to you today about homeowner’s associations and what happens with them in the event of a short sale or a foreclosure.

As a member of an HOA, you are obligated to pay the dues. If you do not pay the dues, the HOA has two options to pursue these unpaid dues. The first of these options is that they can formalize the lien against your property and attempt to foreclose it. The problem with this option is that there’s usually a mortgage on the property, and if they put a lien on it, they actually have to pay off the mortgage before they can foreclose on the property. Simply put, if the house is worth less than what the mortgage is, the HOA is not going to do that.

The other option that the HOA has is to pursue you personally. They can do this even after a foreclosure. A few of my clients have come to me a few weeks before their foreclosure date, they haven’t paid their HOA dues for the past few years and now there’s an enormous HOA lien on their home. The lenders in short sales, generally speaking, are receptive to paying that lien. But, sometimes, they aren’t because the lenders know that if they foreclose on the property, the HOA loan gets wiped away from the property and the HOA’s only recourse is to come after you personally.

Typically I recommend my clients that no matter what happens with the property, they need to keep paying their HOA dues because it could come back to haunt you. If you keep your dues current, it’s going to help you in getting a short sale done. I’d love to talk to you more about this subject, or anything related to short sales or foreclosures, so please give me a call today.

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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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