Maricopa, AZ

We are embarking on day two with Trent Chapman and we are amazed by the number of appearances Trent has had on shortsalepowerhour.com. We asked Trent to come back to chat about the Short Sale Genius Designation course. Everyone knows that we are not big fans of designations. We have contributed on our own designation recently, but we stole that from Trent. Yet, Trent has decided to do a real designation. The designation is for agents who work with distressed homes.

The designation is different from other designations. With other designations, you go to a class and take an exam and get your designation. With the Short Sale Genius designation, there are unique levels based on how many short sales you have closed.

If you take the class you will get a general designation, but it will also make a note of how many short sales you have closed. Trent simply figured that taking a class and passing a examination didn't make anybody an expert. So, he decided to inject a little bit of common sense and honesty into the procedure.

On a new note, software is something that many other agents ask about. Trent provides software that is state of the art with features that help the agent that is doing a few transactions or hundreds. His software essentially coaches you along in the short sale process. There are red flags that let you know if a folder is out of compliance or taking excessively long. There is also a feature that allows the home owner to log in and see the status of their folder. It was exclusively created for short sales. Check out the theshortsalegenius.com

If you have questions, get your Short Sale questions answered by Short Sale Specialists.

Watch this and more short sale videos by Kevin and Fred at Short Sale Power Hour

Also, follow Group 46:10 on their blog at Pre Foreclosure - Short Sale Arizona

For more videos on short sales check out Kevin and Fred on the Short Sale Power Hour. Video for Short Sale Specialists.

Are you facing foreclosure because your mortgage payment is too high? Are you searching for a form of loss mitigation in Phoenix, Arizona that can help you out with this problem?
Dealing with the bank's loss mitigation department is a very challenging thing to do. With the banks tightening their belts, the process of dealing with loss mitigation has gone from challenging to nearly impossible. Acting quickly in this crucial time of crisis is amazingly important to finding a loss mitigation situation that can work for you.
Loss mitigation can be found with the help of a real estate expert that deals in the short sale of homes. Because of their experience in loss mitigation and helping out people in your situation, they are the best experts to contact when you need to know how to negotiate with your lenders loss mitigation department.
A Short sale specialist in Phoenix, AZ, as a means of loss mitigation, can negotiate with the bank to facilitate a short sale on your behalf. With late fees mounting and a foreclosure notice potentially only weeks away, your loss mitigation needs to be kicked into high gear. The help of a short sale real estate expert can move the loss mitigation process along more smoothly and efficiently on your behalf. Being upside down in your mortgage (upside down refers to the fact that your property's value is less than the your mortgage loan) is not new to a short sale specialist.
Having dealt with your upside down situation several times before with home owners just like you, a short sale specialist can take you through the steps of dealing with the banks loss mitigation department during the short sale of your home. This is also the reason why loss mitigation departments don't mind working under the terms that a short sale provides. When they have the opportunity to deal with someone that understands the process from the home owners side, it makes the banks job much easier.
To be perfectly honest, taking a do it yourself approach to this situation should not even be considered. You would perform open heart surgery on yourself, would you? The same notion applies here. Leave the work to the experts.
Take a quick test to see if a short sale specialist can work for you in your loss mitigation needs.
Is your mortgage higher than the value of your home?
Do you want to avoid foreclosure and/or bankruptcy?
Have you missed payments or are you having trouble making payments?
If you answered "YES" to any or all of these questions, it is time for you to get your loss mitigation in high gear by contacting a real estate expert that deals with short sales. There knowledge of the loss mitigation process is keenly essential to your survival in this process.

Watch Kevin and Fred, Short Sale Specialists, on the Short Sale Power Hour. Video for Short Sale Specialists.

More than a thousand home owners in Phoenix, Arizona area were able to use foreclosure prevention techniques to keep their homes from being foreclosed on. Because of a variety of foreclosure prevention projects, millions of Americans across the country have been able to avoid foreclosure. Contrary to popular belief, the banks and lenders that hold these mortgages want to help you with foreclosure prevention just as much as you want to help yourself.
The government in Phoenix, AZ understands that foreclosure prevention programs are important to the families of this great state. And they are doing everything that they can to help with foreclosure prevention for all of those home owners that need it. There have been exhaustive efforts with respect to foreclosure prevention to help people stay in their homes.
The foreclosure prevention program that the federal government unrolled was enacted by President Obama. He also had the intentions of helping foreclosure prevention of homes that were purchased with sub prime mortgages. The foreclosure prevention program is set up and can be used until at least 2012.
Under the foreclosure prevention program, many people that face foreclosure or the potential of foreclosure can have the opportunity to use something like a loan modification. Loan modification is a great method of foreclosure prevention as it gets the home owner into a situation that they can feel comfortable with. However, because the government is involved, they are in control of who can use the program. That is a good thing for people trying to find a method of foreclosure prevention. Without the government involved, a loan modification can only happen if the lender agrees to it, and they only care about there money.
The foreclosure prevention program is useful for many, but its criteria can make it difficult for some to qualify. Also, if you are one of those individuals that can't make the payments at all, modifying the loan may not help at all. Therefore, some of you need to consider another foreclosure prevention option.
Consider for your foreclosure prevention prevention method the short sale of your home. The short sale offers the home owner the opportunity to get out from under their mortgage by selling the home.
Because of current state of the housing market, with home values plummeting, people don't think that they can sell their homes for enough money to pay off the mortgage. While this is true, the short sale remedies that, which is why it is a very nice method of foreclosure prevention.
With a short sale, you are able to sell your home for less than the value of the mortgage and the bank accepts that money along with other terms that include either forgiving the remainder of the loan or working out a payment schedule for the remainder of the loan. Either way, it is a great way of foreclosure prevention.

Watch Kevin Kauffman and Fred Weaver of Group 46:10, Short Sale Specialists, on the daily Short Sale Power Hour.

Short Sale Power Hour is happy to welcome Trent Chapman, Short Sale Genius, back to the episode. Trent has exhausted a lot of time coaching realtors how to escalate. He provides a form letter on his website, theshortsalegenius.com, to give people an example of how to impart the escalation message to the lender. Essentially, it gives a universal script as to how you can rationalize that the short sale is better than foreclosure.

Unfortunately, because too many people have just copied and pasted the file, Matt Vernon may have a problem with it. For those that do not know, Matt Vernon is a bigwig at Bank of America. So, Trent will be contacting Matt Vernon to talk about the escalation letter.

The thought behind the letter is that Trent needs to aid agents in knowing how to escalate. When you are addressing somebody that is higher up in the lender, you want to make the narrative as short as possible. We recommend that you tell them the following. This is the house. It has been listed for 'x' days. We have a bid. It's full market value. Here is the fair market value based on these comps. Then you give them the figures. With a short sale, you will obtain this much capital and if this forecloses, you will obtain this much capital. That is the essence of the email.

If you have questions, get your Short Sale questions answered by Short Sale Specialists.

Watch this and more short sale videos by Kevin and Fred at Short Sale Power Hour

Also, follow Group 46:10 on their blog at Peoria - Short Sale Arizona

Today, Kevin and Fred have decided to cover a subject that they have never covered before. In addition, they haven't ever talk about it in one of their Crush It courses. The subject is post short sale approval troubles. In essence, you previously have an agreement from the bank and troubles happen. How do you handle them? What is truly occuring out there?

With a transaction that closed yesterday, our escrow official was looking to get the closing HUD approval from our negotiator at Citi. It was closing today. The negotiator denied the closing HUD in spite of the fact that all of the provisions were met. The worst part was that the negotiator was not willing to speak in plain english to make clear that the HUD had to look a precise way. It is essential to note that just because the contract is approved, it does not mean it is closed.

Realize that your approval letter at most lenders says that they have to approve of the final HUD. Because the approval letters do not specify what they are paying and what they are not paying, you might not know if they will approve it.

We had one more post approval difficulty recently, with an approval from the controller. We scheduled the closing. About a week into the closing, we got a phone call from another negotiator that introduced themselves as the the new negotiator for this file. She requested a number of documents so that she could get the file approved. When we informed her that we previously had the file approved, she let us know that that agreement was no longer applicable because they never got the file approved from the investor.

This is the sort of stuff that is occuring out there that you will not here in a normal short sale teaching lecture. The point is that there are post approval troubles and you are going to have to work with them if you want to be successful in this business

If you have questions, get your Short Sale questions answered by Short Sale Specialists.

Watch this and more short sale videos by Kevin and Fred at Short Sale Power Hour

Also, follow Group 46:10 on their blog at Pre Foreclosure - Avoid Foreclosure Arizona

The final challenge to overcome in the bank short sale process is the ever mounting stress. We've already touched on this a bit in the above concerns and also in Part I of this article. However, the bank short sale process brings stresses from several angles. There is undue stress from how the bank deals with the bank short sale process and stress from the loved ones around you that think they are helping by giving you advice. There is also stress from the time that it takes to complete a bank short sale. That is why a real estate agent, to deal with banks and negotiators, is so essential.
With the bank short sale becoming an increasing popular tool in Queen Creek, AZ to help home owners out of soe tight situations, the real esate agent is critical to making the process move smoothly All that being said, we could tell you to avoid the bank short sale, but that is not in your best interest if you find yourself in an upside down mortgage situation. The bank short sale is the best option for you if you have an ally in the battle with the bank and the buyer and the negotiator. Tackling this daunting process without the help of a supremely qualified agent can be enough to push you to the crazy house. So, why do we deal in bank short sale listings? The simply answer is this. The bank short sale can bring to fruition three happy parties. First, the bank, that gets more money for the property through the bank short sale process than they would if they had to foreclose on the home and sell it. Second, the current home owner wins by using the bank short sale to get themselves out of an upside down mortgage. And Third, the new home buyer uses the bank short sale as a way to get a great property at a reduced price.
Bank short sale listing can offer a buyer in Queen Creek, Arizona a great opportunity to get into a home that is ready to live in. It gives the seller a way out and the bank a little less loss. Also, because of the bank short sale process, they can be real winners in the negotiation process.
Currently, banks and home owners alike are having their cups run over with upside down mortgages. The bank short sale can help out all parties in making a bad situation a little bit better. Avoiding foreclosure in lieu of a bank short sale is in everyone's best interest and using an experienced real estate agent to facilitate the bank short sale is in your best interest.

A variety of foreclosure prevention techniques are used by people in Phoenix, Arizona who are facing foreclosure every day. Today, we are choosing to focus our attentions on a fairly unknown, but still highly effective method of foreclosure prevention. To be sure, you should know that there are many foreclosure prevention techniques available to you. We lose count at about forty if you are keeping track at home. However, many of the foreclosure prevention techniques you may have heard of are simply ways to delay the process and do nothing to actually stop the process, which for most people is the goal in finding foreclosure prevention techniques.
Foreclosure prevention by slowing down the foreclosure process has a few advantages in Phoenix, AZ; you have the opportunity to stay in your home payment free for what can seem like a long period of time. Furthermore, it can give the chance to find foreclosure prevention through qualifying for a loan modification program run by the government or given by your lender. Some of these foreclosure prevention strategies can be done by you, but finding a foreclosure prevention specialist is probably in your best interest.
What are foreclosure prevention techniques? foreclosure prevention is used to delaying or halt the process of foreclosure. You should initially find out how a foreclosure works so that you can apply foreclosure prevention techniques that will best serve you. If you have a basic idea how the foreclosure process flows, you can use foreclosure prevention techniques to delay the progress of your foreclosure.
Some delay techniques include the following...
Respond to the foreclosure Summon -- If you respond to the foreclosure letter from your mortgage lender, this foreclosure prevention option will stop the process for a several weeks or months.
Negotiate the late payments as a form of foreclosure prevention. If you and the lender can agree on a payment plan to cover the late payments your lender may choose to halt the foreclosure process. This foreclosure prevention technique is not negotiating a mortgage refinancing, but it is paying off you late payments.
File for bankruptcy as a source of foreclosure prevention. This is really a silly foreclosure prevention strategy. Filing for bankruptcy gives you horrible credit and, even though it can delay the process, you will maybe lose your home in foreclosure anyway. This foreclosure prevention strategy is not a decision that you should make without careful consideration.
The best foreclosure prevention strategy is to utilize a not well known process called the short sale. You can contact a real estate agent that knows about this foreclosure prevention strategy and they will explain to you how it works. It will get you away from foreclosure and it keeps the bank happy to. So, your credit won't take a big hit from using a short sale.

We are going to chat about mindset once more today. We have noticed a trend on our favorite social media website, facebook. Coincidentally, facebook just surpassed 500 million users. So, that is a magnificent lead generation process on mindset Monday. Simply ask the 23 customers that we received through facebook and closed on.

The theory that we would like to chat about is that we have noticed lots of realtors on facebook that are complaining. We aren't mad at them because many of them are our associates. Nevertheless, we see a lot of the status updates about which bank you dislike. Also, there are lots of status updates asking if anybody has a good contact at this particular bank or that particular bank. In light of these facebook postings, we would like to transport people back to the January 2nd installment.

The theory that was discussed on that installment was to do something distinctive. This is not an installment to get mad at realtors. The objective is to not get trapped in a rut doing the same thing all of the time and hoping for distinctive results. You will have to do something distinctive.

One of the things that we advise to realtors is to chat to somebody distinctive at the bank. If you are wondering how to accomplish that, try jigsaw.com. We get emails all day for contact information. It is crucial to note that we will never answer with contact information, but we will usually answer with a suggestion to try jigsaw.com

Just one instance of doing something distinctive, Fred couldn't get a bank employee to stop talking today so he just started pushing buttons on the telephone. It probably wasn't the most grown-up thing to do. However, he was doing something distinctive. If what you have been doing is not getting you the results you desire, try something distinctive. The worst thing that can ensue is you will still not get the results you desire.

If you have questions, get your Short Sale questions answered by Short Sale Specialists.

Watch this and more short sale videos by Kevin and Fred at Short Sale Power Hour

Also, follow Group 46:10 on their blog at Arizona Short Sale Specialist

With the economy at its lowest point in memory and unemployment at historically high levels, you may be concerned about your economic future. As you track the news, the buzz surrounding plummeting home values always includes a discussion of foreclosure. It seems that more and more people have to foreclose on their homes. Perhaps you are struggling financially, and you are wondering if foreclosure is a possibility for your home. Maybe you've heard about a loan modification or a mortgage modification as an alternative to foreclosure, but you are unsure as to what any of that means.

A foreclosure is when the legal ownership of a home ends. In other words, the lending institution that holds your mortgage takes your house and you have no more legal rights to it. This often happens when the monthly mortgage payments have not been made. Usually, the lending institution will sell the house at an auction and use the money from the sale of the house to pay down the remaining mortgage debt.

The current administration is trying to help homeowners avoid foreclosure by working with lenders to offer loan modifications to their customers. A mortgage modification can help you avoid foreclosure when your lending institution changes a portion of the mortgage agreement so that you can afford the monthly mortgage payments. The mortgage holder can reduce the interest rate on the mortgage, or they can lengthen the term of the loan and reduce the interest rate. Changing one or both of these terms of the mortgage will lower the monthly mortgage payments. The goal is for the homeowner to avoid foreclosure and keep their house.

Before deciding that foreclosure is your only option during this difficult economic climate, consider loan modification. Likely you will need to summarize your monthly income and your monthly expenses. You will also need to write a hardship letter along with your application.

If you are serious about mortgage modification, you should look into getting a home loan modification kit. One such kit is 60 minute loan modification; it is basically a loan modification encyclopedia. The kit includes outlines of properly written hardship letters, important information about all major lenders, important to know terms and vocabulary and much more.

If you want to learn more about loan modification and 60 minute loan modification click here

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IF you are in search of foreclosure help in Phoenix, Arizona and are not sure where to turn, consider the government's plan to help you out. However, realize that the government plan for foreclosure help, basically a loan modification, has several requirements that may cause you to be ineligible. We believe that foreclosure help from the government is just the second best option. The best foreclosure help available to you is the short sale. Here are the two plans, in a nutshell, and some of the things to consider with each.
With the government program, you will only receive foreclosure help in Phoenix, AZ if you meet the criteria laid out by the government and get your application for foreclosure help is during the time frame that the government sets aside. Here is that criteria as we understand it....
1. You must live in the home that you are seeking foreclosure help for.
2. The mortgage you are seeking foreclosure help on must have been obtained prior to January 1, 2009.
3. foreclosure help can not be used on mortgages that are more than $729,750.
4. Your total monthly mortgage payment, including taxes, insurance, and homeowner's dues has to be more than 31 percent of your gross monthly income.
5. To receive foreclosure help, you must be a difficult financial situation.
6. If your payments are up to date, you can still qualify for foreclosure help, but you need to prove that your current financial status will probably lead to defaulting on your loan
If you qualify for foreclosure help based on the criteria above, you have a good chance of getting a loan modification that will better suit your needs. We recommend that you apply for foreclosure help as soon as possible. Do the following to get qualified for foreclosure help...