Group 46:10 Discusses Short Sales And Loan Modifications

My First SHort Sale

Hello and welcome, my name is Fred Weaver and this is my enterprise partner Kevin Kauffman. We’re Group 46:10. Thank you for watching our video weblog today.

We’re right here to talk to you right this moment a few scorching actual estate subject within the trade because it pertains to short sales and loan modifications. As many of you could know we’re specialists and experts in short sales. We’ve been closing short sales for years now, almost four years now, and now we have a 90% success rate. Hundreds and hundreds of people averted foreclosures with us completing a short sale for them within the Phoenix area, Mesa, Tempe, Chandler, Gilbert, you name it, and we’ve helped them with a short sale.

Today we wish to speak about loan modifications because that subject continues to return up. On a regular basis Fred and I are approached by different prospective purchasers or purchasers in the course of or possibly people who find themselves simply beginning to marvel about mortgage modifications and is it possible for them to really get a loan mod. Here is the just of it, here’s what I need to share with you; yes loan mods are possible. However, I will share with you that very few of them really get accepted, that means it’s doable for those who attain out to your financial institution and also you apply for a mortgage mod, it is doable that they will approve you.

My greatest concern is this; they do not handle the real problem. For instance, should you’ve got a home that is value say $300,000 but you owe $500,000 or $600,000 on it, and you get a mortgage modification, that’s great as a result of your funds will go down and that’s going to be more affordable. The problem is you still have an asset or actually it is a legal responsibility of a house that is to this point below water that it is going to take you perhaps 7 to 10 years earlier than your property is value what you owe on it again. To me, that’s the larger drawback the place loan mods don’t really help people out.

Should you’re curious the place you stand by the best way, you may click on the link below for what we call our short sale decision calculator. You will discover out exactly how lengthy it’s going to take you before your property’s mortgage balance and your property’s worth are consistent with every other.

In case you have some other questions whether it’s about mortgage mods, short sales, foreclosures, or anything else that has to do with actual estate, please contact us. Fill out the form right here as we speak and myself, Fred, or certainly one of our associates will get in touch with you as soon as we can. We sit up for talking to you and see what we will do to help out. Thanks and have a great day.

Short sale FAQs and more.

Get more information on selling your home from Kevin and Fred at My First Short Sale by the Short Sale Specialists of Arizona