If so, then come on over and check out my real estate search engine optimization blog that teaches real estate professionals how to do their own real estate SEO!  Over the last five years I have hired various so called “Arizona SEO Consultants” which all sucked and were a HUGE waste of money.  So I taught myself how to do my own search engine optimization and it was the best business decision I have made yet in my real estate career.  Through trial and error I learned how to build a website and blog from the ground up with proper site structure, meta and title tags, good real estate copywriting targeting specific keyword phrases, onsite linking, and image / video optimization.  I learned how to build inbound links by distributing keyword rich articles, blog posts, and press releases.  I also learned how to utilize FREE web 2.0 tools found on the internet to market my real estate business and drive targeted traffic back to my websites!

FREE Real Estate Search Engine Optimization Training For Real Estate Professionals

I absolutely dominate online and get hundreds and hundreds of real estate leads per month because over the years I learned how to do my own real estate search engine optimization….AND YOU CAN TOO!  Real estate SEO is an art more than it is a science.  There are certain guidelines to follow (real estate SEO basics) but the rest is knowing where to put fresh keyword rich content that gives your link love and drives customers back to your website or blog.  The blog is new so over time I will cover everything you need to know about search engine optimization…and if you want I can do your SEO and real estate copywriting for you!

So check out my new real estate SEO training blog and tell me your thoughts, ask question, or contribute advice…I would love to hear from other real estate professionals.

This is just a quick post I wanted to throw up because I got a phone call yesterday that really bothered me. 

Real Quick…Before I begin I just want to thank the Realtors that treated this homeowner bad and thank them for setting me up to look REAL GOOD!  O.K. so about the phone call:

A homeowner  in Chandler, AZ called me up and said they were so frustrated because they kept calling so called “Arizona Short Sale Realtors” and were either blown off and not called back, or treated disrespectfully as if they were a “piece of dirt”.  This REALLY bothers me that professional agents here in the Valley would make a prospective client feel bad in a time where they already have enough to deal with.

This isn’t the first time I have heard of homeowners facing foreclosure talk bad about other Realtors that claim they specialize in short sales or stopping foreclosure because they were rude or disrespectful!  Sometimes BAD things happen to GOOD people that are out of their control and cause their financial frustrations.  LET ME BE VERY CLEAR…I will ALWAYS treat my prospective clients as well as those that choose to hire me and my short sale team with respect and dignity.  It is my duty as an Arizona Short Sale Realtor to help educate homeowners on their options as well as help them navigate the short sale process.

Obviously I helped this homeowner and she is now a client of mine and I truly believe me and my team can help her.  In a wierd way this helped me get business so maybe the message should be “Agents after your done being rude to a homeowner facing foreclosure go ahead and give them my contact info!”

If you are looking for Arizona Short Sale Help go ahead and give me a call at 602-626-3598 or visit CodySperber.com and fill in one of my submission forms.  I would love to help you in any way I can.

When you first start falling behind on your mortgage payments, the natural thing to do is call your lender(s) and ask for help.  Your lender(s) will request you to send in certain paperwork for review and see if you qualify for a loan modification or short sale.  The average timeframe for most banks to assign you a negotiator and complete a loan modification or short sale is around 4-6 months.  Lenders like Bank of America were notorious for loosing paperwork, creating false reasons why the short sale was taking so long, and denying short sales or loan modifications for stupid reasons.  Fellow Realtor Russel Shaw said it best in his September 2009 article titled “Bank of America Retard Division for Short Sales” where he stated that “Bank of America is to be highly commended for their complete willingness to give so many intellectually challenged people jobs as executives”.  Well I used to agree whole heartedly, however things may be changing!  Over the last few months, I have seen a complete shift in the way loss mitigation negotiators for BofA work with me.  They seem more streamlined, nicer to deal with, and are finally sending approval letters in under three months.  Could this be because of their new relationship with Equator Financial Solutions (formerly REOTrans.com) to create a short sale submission portal that is intended to automate the system?  Basically Equator is a technology that allows an agent to invite a homeowner facing foreclosure into the system.  The homeowner can upload any required documents directly into the system and in return directly to Bank of America’s loss mitigation department!  Any bond holders, PMI companies, BPO agents, or investors that need to be involved in the Bank of America short sale approval process can log into the system and conduct their portion of the approval.  In theory a short sale should get approved within a month instead of 4-6 months or longer like it currently takes.

Now all we need to pray for is that the people working at BofA’s loss mitigation department get the proper training on how to use the new system!

So I have high hopes for homeowners that have a first or second lien with Bank of America.  It’s looking like things are getting more streamlined and much much faster.  As a short sale Realtor and expert short sale negotiator, my team and I have what it takes to help you navigate this difficult and time consuming process.  Together we are in the trenches each and every day processing and completing Bank of America short sales helping as many Arizona families avoid foreclosure as possible.  If you would like to talk with me about whether or not a Bank of America short sale is right for you, call me at 602-626-3598 or visit my website www.codySPERBER.com and fill out one of my quick contact forms today.

Arizona Short Sale Realtor Cody Sperber

What is a real estate Short Sale?

An Arizona Short Sale is the process of selling your home for less than what you owe your lender(s).  Through expert marketing and negotiations, an experienced short sale Realtor can help you navigate your way to a completed sale and avoid the possibility of a foreclosure on your record!  The best part is your lender(s) pay virtually all sales costs including commissions, escrow / title fees and repair costs.  My unique short sale program is absolutely FREE to you and is guaranteed to be the fastest way to sell a home that has no equity!

Is an Arizona Short Sale for me?

Well…it depends on your situation! Most mortgage lenders are willing to work with a borrower that is faced with a real financial hardship and is unable to pay their mortgage payments.  This is not a “get out of jail free” card and you must qualify.  My program expertly packages, proposes, and negotiates a real estate short sale on your behalf while you sit back and allow me to work hard for you for FREE!  First we must see if you qualify and that is why I offer a completely free and confidential consultation to go over your situation, explain your options and educate you on the short sale process.

If I do an Arizona Short Sale, will I have to pay to sell my home?

ABSOLUTELY NOTHING!  While some short sale companies try and charge you an upfront fee, my team and I will handle your entire Arizona short sale free of charge.  And if your lender(s) try and make you come out of pocket and pay them extra money to accept your short sale, then we will negotiate and get them to precede without any out of pocket costs to you!

I add this clause in all of my short sale proposals and offer contracts:

“Seller’s agreement to sell is subject to approval by existing lender of a Short Sale at no cost to Seller. Seller shall not be required to deposit funds to close escrow or pay any fees for short sale approval.”

Remember, lenders approve Arizona short sales and accept the resulting loss in an effort to avoid bigger losses through foreclosure.

Can I simply deed my property to someone else and avoid the hassle?

No, remember that when you purchased your house it came with a note and a deed.  The note represents the money that you borrowed from the bank; the deed shows the world who owns the property.  Just because you deed your home to someone else, you are still responsible for the note (loan) you borrowed to buy the home.  Plus when you deed your property to someone else you lose control of your ability to make decisions.

What sort of hardship would my lender consider legitimate?

While each lender has their own short sale qualifications, there are some basic hardships that all lenders will consider when approving a short sale.  Below you will find a list of “hardships” that are common and frequently accepted by mortgage lenders:

•·         Family illness, injury, or death

•·         Illness or injury in the extended family – particularly if it forces relocation

•·         Job relocation when the property is equity deficient

•·         Job loss or significant income loss

•·         Divorce or split of domestic partners

•·         Adjustment in mortgage payment or unforeseen increase in living expenses

I am current on my mortgage; will my lender consider an Arizona Short Sale?

The politically correct answer is MAYBE while the real answer is NO!  I have done some short sales where the homeowner was current and it only took me a year and a half.  I have also started many short sales while the owners were current and after about 6-7 months of no real progress and multiple buyers dropping out the owners got frustrated and stopped paying.  Then we got the results we were looking for and completed the short sales!

So in reality the answer is no because most lenders will not send your mortgage paperwork to loss mitigation unless they have a non-performing asset due to the fact that you are not paying.  And until it is loss mitigation we cannot get to the real decision makers who can approve the file!

Why would a mortgage company agree to accept an Arizona Short Sale?

There are actually several reasons why a mortgage company would approve a short sale payoff including the following:

Foreclosure Cost Money – This is the main reason a lender will accept a short sale.  When your lender(s) realize you are no longer paying your payment they start calculating their costs to foreclose.  They first send out a BPO (Broker Price Opinion) Agent to the home to give an estimation of value!  Once they believe they understand the value of the property they then look at the states foreclosure process and then calculate how many months it will be before they own the home.  Add some late fees, attorney costs, processing costs, loss mitigation fees and hold time into the mix and they come up with their true cost of foreclosure!  THIS IS JUST THE COST TO FORECLOSE…DON’T FORGET TO ADD THE COST TO THE BANK AFTER THEY TAKE THE PROPERTY BACK!  There are Asset Management Fees, broker fees, fix-up costs, more holding costs and then they get a low ball offer from some investor or first time home buyer looking to get a good deal and still sell it for less than they would have if they just accepted the short sale offer 10 months earlier!

Government Incentives – Now the government is watching and incentivizing mortgage companies for participating in programs that help homeowners avoid foreclosure!  Short sales are no exception and the recent addition to the Making Homes Affordable Plan gives money to lender(s) who accept a real estate short sale!

Legal Concerns – Many mortgage lenders are aware that the loans they purchased or produced have some Real Estate Settlement And Procedures Act (RESPA) or Truth-In-Lending Act (TILA) violations and want to avoid any legal ramifications from borrowers that sue the lender(s) for mortgage fraud.  Add this to the negative press they would receive and they have some real incentive to work with a homeowner who has a verifiable hardship!

Wall Street Is Watching – During the housing boom many mortgages were pooled together and sold as Mortgage Backed Securities (MBS).  These MBS’s were then sold on Wall Street to both national and international investors who had a big pile of money and needed to invest it somewhere.  The whole point of buying a MBS was that it was supposed to diversify the risk of default by pooling loans from strong borrowers with loans of more risky borrowers giving a good return on investment (ROI) without a ton of risk.  The problem occurred when borrowers from all risk ratings started defaulting and the result was the mortgage meltdown we are experiencing now and the fact that Wall Street no longer wants to buy MBS’s!  In order to get back to business and start pooling loans again banks need to clean up their books and start making responsible loans to qualified borrowers!  A successful short sale gets the non-performing notes off their books, money in the door quickly, and gives banks the ability to start lending again!  Once that happens Wall Street will come back around with their big pile of money to buy up the notes!

Reserve Requirement – Every bank that lends money needs to have a certain amount of money set aside in a reserve fund to deal with potential loss from bad loans.  The amount of money in the fund is proportional to the amount of money that is being lent out and not performing.  As a lender accepts a short sale less money is needed in the reserve fund and more money can be lent out.

I have two loans, can I still do an Arizona Short Sale?

ABSOLUTELY yes!  I have completed many short sales on homes with more than one lien.  The hard part about negotiating a short sale on a home that has two loans is the fact that we are basically doing two separate short sales so it is double the work.  The lender in the first lien position is in the most control and therefore tries to dictate what the subordinate lien holders will get.  The subordinate lien holders are trying to mitigate their loss and can become stubborn threatening to disapprove a short sale unless they get more money.  This is where an expert negotiator can work with all lenders involved to come to an agreeable payoff resulting in an approved short sale.  My success rate when working with two or more lenders is phenomenal and I can show you completed short sales where more than one lender was involved!

My property is in rough shape and needs work; can I still do an Arizona Short Sale?

Sure, in fact this may incentivize your lender(s) to work with you even more!  Remember, you lender does not want to own your house…and they really don’t want to own your house that needs a bunch of repairs!  Aside from expense of completing the work, lenders are simply not set up to get the work done. They are in the loan business, not the fix- it business.

I am concerned about my credit, how will an Arizona Short Sale affect my credit?

Credit reporting is the only consequence of a short sale we have a hard time negotiating away.  In some cases we are able to ask for and receive a 90 day halt on credit reporting but it is really rare.  Our main goal is help you avoid a foreclosure on your record which could affect your credit score by 200-400 points and will stay on your record for seven years!

Late or missed payments are what negatively affects your credit, not the actual short sale mark.  Most homeowners see an 80-200 point drop in their credit score due to the fact that short sale process takes anywhere from 2-6 months to complete and each month a “missed payment” gets reported.  In general a short sale will show up on your credit as “Paid As Agreed” or “Paid In Full, Less Than Owed” and stays on your record for seven years but only prevents you from getting a new home loan for about two!  This is a dramatic increase over foreclosure or bankruptcy so there is no reason why anyone would just walk away from their home and not attempt an Arizona short sale.

Special Note: We always ask the bank to report a “Full Satisfaction” instead of “Paid As Agreed” or “Paid In Full, Less Than Owed” because it will have less of an impact on your credit rating.  Then we would suggest getting credit repair to get the missed payments removed from your report and it should look as if the short sale never happened.  If this is achieved, your credit will barely be affected!

Can a lender come after me or my other assets if I sell my home for less than what I owe?

Well that depends if you qualify for protection under Arizona’s Anti-Deficiency Statutes.  The thing to consider is that the deficiency law will protect those whose home is a single family residence or a single two-family residence on less than 2.5 acres of land.

Currently as long as the money you borrowed is considered purchase money (meaning NOT a HELOC or cash-out-refinance) and the property is a single family residence or duplex on 2.5 acres or less then you should be protected.  The only time a HELOC or cash-out-refinance is protected is if you pulled out the loan with the “intent” to upgrade the house and can show receipts!  Furthermore the homeowner cannot “waste” the property meaning they cannot deliberately fire sell or damage the property in any way that affects the value of the home.  If you do then you are not protected under the law.  Lastly, this law is about to change starting September 30^th, 2009.

The statute SB 1271 was just passed and is intended to amend Arizona Revised Statutes A.R.S. § 33-814. The new law hopes to protect primary residence homeowners and enable lenders to go after investors who are defaulting on their investment properties.  But as it stands the creators of this amended version couldn’t even get this right.

As written SB 1271 requires that the trustor (owner) to “utilize” and “use” the property as a dwelling for six consecutive months to be protected from a deficiency judgment. This means that only primary residences are protected!

The very definition of utilize is to:  To put to use, especially to find a profitable or practical use for.  NONE of that means in any way shape or form for the owner to “occupy” or “live-in” the property.  If SB1271 intended the owner of the home must live there then why didn’t the revised statute A.R.S. § 33-814 clearly state this intention?

Also Arizona law clearly prohibits a secured lender from suing a homeowner in default when the funds for that mortgage were “purchase money” funds.  Meaning that they financing for is mortgage went directly to buy the property.

So this law is being challenged even before it goes into effect and could change within the next couple of months.  For now focus on the current law as stated in the first paragraph.

It is important to note that an expert short sale negotiator will negotiate for the lender to produce a waiver of deficiency or to include a paid as agreed statement in their short sale acceptance letter.

What are the possible tax consequences for an Arizona Short Sale?

The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.

This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion does not apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition.

Your lender will issue you a 1099-C Cancellation of Debt form.  In turn you must prove your insolvency by proving that at the time of the discharged debt your total debts were more than the fair market value of your total assets.

Though the forgiven debt is excluded from your income due to the 1099-C, you must still report it on a Form 982 – Reduction of Tax Attributes Due to Discharge of Indebtedness form.  Which combined with your insolvency will absolve you of the tax liability.

About The Author Cody Sperber (Arizona Short Sale Realtor)

Cody Sperber is a full time real estate investor, Realtor and small business owner that specializes in short sales and loan modifications.  Over the last few years Cody has put together and trained a team of highly skilled loss mitigation experts that masterfully package, propose, and negotiate loan modifications and short sales on their clients behalf.  Cody owns and manages www.CodySperber.com, www.SellQuickForCash.com, www.ForeclosureCounseling.com, and www.AdjustMyLoan.com(all top ranking websites in Arizona).  Cody’s creativity and ability to overcome objections allow him and his team to share a ridiculously high success rate!  So if you are facing foreclosure and need someone to educate you on your options, contact Arizona’s #1 Short Sale Realtor at 602-626-3598 today for your FREE CONSULTATION.

Cody Sperber Contact Info

Arizona Short Sale Realtor

The Short Sale Advantage / Saving Your Credit Through a Short Sale!

By: Phoenix, Arizona Short Sale Realtor Cody Sperber

Dear friend,

If you are reading this it’s most likely you are behind in you mortgage, in arrears so much the bank is threatening to foreclosure and you don’t know which way to turn.

Let’s get one thing straight, if you can’t afford to make your payment and your lender is uncooperative towards doing a loan modification, here’s the truth about your situation.

YOU ARE GOING TO LOSE YOUR HOME!

And if it’s inevitable, you have a responsibility to put yourself, your spouse and your family in a position to recover as quickly as you can.

I’m sorry for being so harsh but I do so because I want to get to the heart of the matter so you the homeowner can make an informed decision about what your options really are.

It’s my belief the best option for you is an Arizona Short Sale.  In order to understand why we must review how a foreclosure and a bankruptcy affect your credit.

First of all a foreclosure will lower your credit score as much as 300 points.  Not could but will.  Furthermore as a result of your foreclosure, any creditor is forced to refuse you any financing for the next three years after your foreclosure.  Not just another home or car.  But all credit down to something as innocuous as a TV.  No one and I mean no one will extend you any credit or financing for anything for two years!  The foreclosure itself will stay on your record for seven years.

A bankruptcy is the absolute worst hit you can have on your credit score.  Not only does your credit score lower it remains there for 10 years.  What’s more depending on what type of bankruptcy you file for, there is the risk of still losing your house if the judge decides it must be sold to pay off creditors. (Chapter 7) And while you may be able to get new credit in less than two years it will be at he cost of much higher interest rates since you have been deemed a credit risk.

Or in the case of a chapter 13 filing, rather than having to liquidate all assets, in order to keep your property you have to agree to pay your creditors through future income.  Even if you pay all your creditors the bankruptcy remains on your credit history.  Nor are you allowed to make new debts or sell any assets at all without the courts permission.

So, why an Arizona Short Sale?  It’s simple.  The short sale is the best way to shed your self of a bad mortgage, and move forward.

Does that mean your credit will be untouched?  No the truth is it is instead of appearing as damaging as a foreclosure or bankruptcy it will appear as a settlement of debt which has a much more positive impact on your credit score.

Yes, your credit score will be lowered somewhat, and you will still be looking at possible higher interest rates.  But you will still be able to apply for credit immediately.  And though it is supposed to remain on your credit score for seven years you may have success in getting removed before that time by finding a good credit repair agency to work with.

Does your credit score lower similar to a foreclosure?  Yes depending on who you talk to as much as 200 points.  Here’s some key point to keep in mind however, if you are in arrears your credit starts to take a hit the moment your mortgage is reported to all 3 credit agencies.  So the damage is primarily done by the time you get around to doing a short sale, bankruptcy or are foreclosed upon.

So once again the distinction is how any one of these 3 outcomes appear on your credit history and how it affects your future.  So let me belabor the point and state once again, with a short sale by having a settlement of debt it shows that you took responsibility for your situation and worked out an amenable solution with your creditor.  Which in turn will allow you to be in a position to still apply for future credit and give you the opportunity to repair your credit score at a much faster rate.

To your success,

Cody Sperber

602-626-3598

www.CodySperber.com

P.S.  Be sure to check back next week for our next subject…..

P.P.S. I do real estate short sales in the following Arizona Cities:

Chandler Short Sale Realtor, Mesa Short Sale Realtor, Gilbert Short Sale Realtor, Tempe Short Sale Realtor, Phoenix Short Sale Realtor, Avondale Short Sale Realtor, Anthem Short Sale Realtor, Tolleson Short Sale Realtor, Surprise Short Sale Realtor, Glendale Short Sale Realtor, Scottsdale Short Sale Realtor, Paradise Valley Short Sale Realtor, Fountain Hills Short Sale Realtor, Ahwatukee Short Sale Realtor, Carefree Short Sale Realtor, Cave Creek Short Sale Realtor, Higley Short Sale Realtor, Queen Creek Short Sale Realtor

An ARIZONA LOAN MODIFICATION is a way to renegotiate your current loan terms with your lenders resulting in lower monthly mortgage payments.  We can adjust your interest rate, length of your loan, or even get a a principal balance reduction on the amount you owe!

WE CHARGE NO UPFRONT FEES FOR OUR LOAN MODIFICATION SERVICE!  WE OFFER FREE ARIZONA LOAN MODIFICATION CONSULTATIONS!

We are Arizona’s #1 loan modification company located in Downtown Phoenix, AZ.  We are members of the BBB and have many testimonials and referrals to prove our business ethics!  Visit our state of the art website at www.AdjustMyLoan.com today and educate yourself on your “stop foreclosure” options today.

Our ARIZONA LOAN MODIFICATION BLOG is packed with Arizona loan modification information, current Arizona loan modification programs, and do-it-yourself Arizona loan modification advice. 

CALL 480-968-5626 FOR A FREE LOAN MODIFICATION CONSULTATION TODAY!

As a consequence we are able to serve Arizona loan modification clients in the following Arizona cities:
 

Tucson Loan Modification
Mesa Loan Modification
Glendale Loan Modification
Chandler Loan Modification
Scottsdale Loan Modification
Gilbert Loan Modification
Tempe Loan Modification
Peoria Loan Modification
Yuma Loan Modification
Surprise Loan Modification
Avondale Loan Modification
Flagstaff Loan Modification
Lake Havasu City Loan Modification
Goodyear Loan Modification
Sierra Vista Loan Modification
Prescott Loan Modification
Oro Valley Loan Modification
Bullhead City Loan Modification
Apache Junction Loan Modification
Prescott Valley Loan Modification
Casa Grande Loan Modification
El Mirage Loan Modification
Marana Loan Modification
Kingman Loan Modification
Buckeye Loan Modification
Fountain Hills Loan Modification
San Luis Loan Modification
Nogales Loan Modification
Florence Loan Modification
Douglas Loan Modification
Queen Creek Loan Modification
Maricopa Loan Modification
Payson Loan Modification
Sahuarita Loan Modification
Paradise Valley Loan Modification
Chino Valley Loan Modification
Eloy Loan Modification
Sedona Loan Modification
Cottonwood Loan Modification
Camp Verde Loan Modification
Show Low Loan Modification
Winslow Loan Modification
Somerton Loan Modification
Safford Loan Modification
Coolidge Loan Modification
Globe Loan Modification
Page Loan Modification
Bisbee Loan Modification
Tolleson Loan Modification
Youngtown Loan Modification
Wickenburg  Loan Modification
South Tucson Loan Modification
Guadalupe Loan Modification
Holbrook Loan Modification
Snowflake Loan Modification
Cave Creek Loan Modification
Benson Loan Modification
Thatcher Loan Modification
Litchfield Park Loan Modification
Eagar Loan Modification
Pinetop-Lakeside Loan Modification
Taylor Loan Modification
Colorado City Loan Modification
Dewey-Humboldt Loan Modification
Willcox Loan Modification
St. Johns Loan Modification
Carefree Loan Modification
Clarkdale Loan Modification
Quartzsite Loan Modification
Parker Loan Modification
Superior Loan Modification
Williams Loan Modification
Clifton Loan Modification
Kear Loan Modification
Pima Loan Modification
Springerville Loan Modification
Star Valley Loan Modification
Gila Bend Loan Modification
Wellton Loan Modification
Miami Loan Modification
Huachuca City Loan Modification
Mammoth Loan Modification
Tombstone Loan Modification
Fredonia Loan Modification
Patagoni Loan Modification
Hayden Loan Modification
Dunca Loan Modification
Winkelman Loan Modification
Jerome Loan Modification

I recently read a very interesting article on how the way consumer credit scores are calculated will be changing in the next year.  The Fair Isaac Corp – creator of the FICO scorehas unveiled a new scoring model for determining your credit score dubbed FICO 08.  Currently FICO scores range from 300 to 850 and are based on consumers’ credit histories.  This score “in theory” should reveal the risk associated with lending a person money and their chances of default.  The lower the score, the more chance for a default.   A Good credit scoreis anything over 700 and a low score can severely restrict a person from buying a house, car, renting, turning on utilities, credit cards, and even getting into a good college.

The Fair Isaac Corp explained that the new method is more forgiving on minor slip-ups and will more accurately predict a borrower’s risk of defaulting on loans.  FICO 08 will still take into consideration the same factors of a person’s financial history including indebtedness, length of credit history, and number of open lines of credit, the main difference is the weight these factors will carry.

YOUR FICO SCORE MIGHT GO UP IF…

You maintain various lines of credit, such as credit cards, or car / home loans.  This demonstrates your ability to successfully manage different types of loans.  YOU WILL BE LESS PENALIZED IF YOU ARE DELINQUENT IN ONE ACCOUNT, BUT ARE IN GOOD STANDING ON THE OTHERS!

YOUR FICO SCORE MIGHT GO DOWN IF…

You have many delinquent accounts.  This has always had a negative affect on your credit, but more so after the change.

NO MORE PIGGYBACKING

This is a popular method of adding people with poor credit to those with good credit to increase their credit score.  Currently by being added as an authorized user to a person with a good credit account can dramatically increase your score…THIS WILL NOT HAVE AN AFFECT ONCE THE CHANGE OCCURES.  Parents can still co-sign for their kids, it just will have no affect on the kids credit score anymore!

In today’s declining real estate market here in Arizona, and as families go through the Foreclosure or Short Sale process, credit concerns are more important than ever.  Being proactive in monitoring and maintaining your credit report is crucial to your future, and we at www.CodySperber.com recommend using www.annualcreditreport.com to monitor your credit report every 12 months.  If you need actual credit repair, I recommend using www.GenesisCreditGroup.com.  Genesis is a local credit repair company that specializes in helping homeowners that have gone through a foreclosure or a short sale fix their credit withing 6-12 months.  I have sent many of my clients to them and they are all happy with the service.  If you are falling behind on your mortgage payments and would like to talk with a local Arizona Foreclosure Expert, please feel free to call me anytime at 480-861-8732.  Also, if you are looking to Sell Your Arizona House Fast, remember, I PAY CASH FOR HOUSES.

 

ARIZONA SHORT SALE HELP BY LOCAL SHORT SALE EXPERT CODY SPERBER

Are You Looking For Arizona Short Sale Help?  Do you owe more than your home is currently worth?  Is your home loan amount equal to or higher than your current home value?  Are you behind on payments, or realize that you can no longer afford your home?  If this is your situation, CodySperber.com can help!

Selling a home that has a loan higher than it’s worth is extremely difficult, if not impossible. Who would want to pay above the true value of a home? Usually when a homeowner owes more than the home’s current market value and can no longer afford the home, they are left with two choices: 1. Lose the home to Arizona Foreclosure due to no one wanting to buy an overpriced home; 2. Negotiate an Arizona Short Sale with the bank to ensure the home sells before Foreclosure. Obviously no homeowner wants to lose their home to Foreclosure. People who let their home go to Foreclosure typically destroy their credit for 7 years during which time, it is nearly impossible to purchase another house. You will need Arizona Short Sale Help.  There is a better way to exit from your financial burden…a Real Estate Short Sale!

So What Is A Short Sale?

A Real Estate Short Sale is when the bank is willing to take a lesser amount of your home’s loan in order to sell your home and Stop Foreclosure Arizona. Basically, our company goes in and negotiates with your lender to accept a discounted sales price due to your financial situation, as well as the current market conditions.For example: Your home’s current market value is $200,000 You loan amount for your home is $225,000. No one will want to buy your home for $225,000 because the real value is $200,000. The bank then realizes they must lower the amount owed to $175,000 (this number varies) so the home can sell. This is just a simple example and all the numbers will vary from deal to deal.
So why Is A Real Estate Short Sale Better Than A Foreclosure?

A Real Estate Short Sale is a win/win solution for everyone. Obviously the homeowner does not want a Foreclosure on their record. The bank definitely does not want to take the home back through foreclosure due to the large expenses and long waiting period. So if the homeowner can complete a short sale, they will have successfully sold their home without losing the home through Foreclosure, thus saving their credit. And the bank will be satisfied due to not having to foreclose on the home saving time and money.

Plus, the time it takes to rebound from a Real Estate Short Sale is much shorter than the time it takes with a Foreclosure! Furthermore, it shows your character! You are attempting to repay the loan that you took out which gives you peace of mind. Homeowners desiring to do a Short Sale usually must show to the bank:

• Financial hardship
• Loss of job
• Divorce
• Medical conditions or large medical bills
• Behind on payments
• Job Transfer

Typical Beginings Of A Real Estate Short Sale:

1. The homeowner(s) begin to miss payments
2. The lender(s) try to arrange a repayment plan
3. The repayment plan fails or is never attempted and the bank mentions a short sale

Requirements for a Real Estate Short Sale are:

1. A proven financial hardship
2. Behind on payments (In most circumstances)
3. You owe as much or more than your home is currently worthThe homeowner requests a Short Sale Packet from their lender(s)
4. The bank notifies the homeowner(s) that they can’t turn in the short sale packet until they have a signed purchase contract
5. The homeowner(s) decide to contact CodySperber.com

Cody Sperber is an Arizona Short Sale Realtor that creates custom solutions to Arizonas housing problems.  I do not act as a typical Realtor just listing your house on the MLS and trying to compete with the other 50,000+++ listing out there!  I have years of Short Sale Negotiation experience and understand how to market, negotiate, and close on Arizona Short Sale homes.  Please Google me!  You will find hundreds of posts, articles, and websites with my name attached.  I own www.SellQuickForCash.com a local “Cash For Houses” website that buys houses from those wanting or needing to sell their Arizona house Fast.  I am an Arizona Foreclosure Expert and have helped Dozens and Dozens of homeowners Avoid Foreclosure Arizona.   If you need Arizona Short Sale Help, take the next step and contact me.

 CLICK HERE TO FILL OUT MY QUICK CONTACT FORM

 Arizona’s April Foreclosure Rate Skyrockets!!!

In April, one in every 519 American households received either a default notice, bank repossession or auction sale notice, according to RealtyTrac’s U.S. Foreclosure Market Report. With foreclosure filings up 65 percent from a year ago, CodySperber.com takes a look at which ten states had the highest foreclosure rates.
 

Top 10 State Foreclosure Fillings In April 2008

1. Nevada – One In Every 246 Housholds Recieved A Foreclosure Notice
2. California – One In Every 204 Housholds Recieved A Foreclosure Notice
3. Arizona – One In Every 224 Housholds Recieved A Foreclosure Notice
4. Florida – One In Every 242 Housholds Recieved A Foreclosure Notice
5. Colorado – One In Every 349 Housholds Recieved A Foreclosure Notice
6. Maryland – One In Every 380 Housholds Recieved A Foreclosure Notice
7. Georgia – One In Every 422 Housholds Recieved A Foreclosure Notice
8. Ohio – One In Every 432 Housholds Recieved A Foreclosure Notice
9. Michigan – One In Every 440 Housholds Recieved A Foreclosure Notice
10. Massachusetts – One In Every 539 Housholds Recieved A Foreclosure Notice

Arizona Foreclosure activity in April increased 26 percent from the previous month and 181 percent from April 2007, helping to bump the state’s foreclosure rate up to third highest among the states. Foreclosure filings were reported on 11,620 Arizona properties in March, one in every 224 total households. (Source: RealtyTrac.)

“It is obvious to us that the number of homeowners that need a REAL SOLUTION to stop foreclosure is rising and the housing market is still declining”

CodySperber.com has the resources and team in place to handle any housing / financial situation. We Are Arizona Short Sale Experts! Our team of specialists are highly educated on Arizona’s foreclosure laws as well as the Foreclosure Process. Arizona Short Sales (http://www.codysperber.com/whatisashortsale.php) are our specialty and we offer a no-hassle, quick close without Realtors and the fees associated with a traditional sale. We pay cash for houses fast in the Phoenix – Metro market. We buy both nice and ugly homes and we can close within 3 days, sometimes faster or slower, depending on your financial needs. We are Arizona’s #1 “Cash For Houses” homebuyer dedicated to helping families in their time of need.

http://www.CodySperber.com/

Do you want to sell your Chandler, Arizona House Fast?

We buy Chandler homes fast!

Do you want to sell your Chandler, Arizona home fast…no agents…no fees…no hassles? You’re in the right place! We buy homes in any condition.  http://www.sellquickforcash.com/ is Arizona’s #1 and fastest homebuyer specializing in helping homeowners solve their housing problems!

Arizona has a record breaking 50,000+ single family homes listed for sale and is steadily rising.  Average days a home sits on the market in Maricopa County is close to 6 months.  Foreclosures have had a devastating effect of the value of your home. Whole neighborhoods have declined in value and the next few years looks to be just as bad if not worse!  You may not be aware of this fact but you will have to pay out 15% – 20% of the sale price of your home while waiting anxiously for it to sell. This means if your house sold for $350,000, it would cost you approximately $70,000 in commissions, repairs, utilities, additional mortgage payments and taxes.  Why have the uncertainties of the market affect when you are going to sell?  Why allow your current circumstance to affect your livelihood any longer?

The unfortunate reality of the market, along with extenuating circumstances, has forced many like yourselves to realize that what is worse than knowing….. is not knowing when your home is going to sell.

  So Let’s Recap:

		A no-hassle, no obligation, FREE in home consultation!
		We are quick.  We can buy your home in as little as 3 Days!
		There are never any hidden costs and everything we do is in writing!
		We pay all closing costs, appraisal fees, everything!  You pay nothing!
		We offer a fair price.  Typically our offers are within 70%-90% of your homes Fair Market Value!
		Our offers are guaranteed and we will not change our minds at the last minute.  We have our own CASH and can act on your timetable!
		We provide customized solutions.  There is no “one-size-fits-all” answer, so we take an educational approach when making offers.  Once you understand all your options, you can make the best decision for you and your family!

SOUNDS LIKE A WIN / WIN SITUATION TO ME!
We always offer custom financial solutions which will best suit the needs of you and your family.  http://www.sellquickforcash.com/ is Arizona’s #1 Cash For Houses website offering fast solutions to your housing problems.  We are honest, ethical and always fair so if you want to sell your Chandler House Fast, keep on reading!

Stop the worrying and call…there is never any obligation! Sell your Chandler, Arizona home fast!

If you are saying to yourself, “I want to sell my Chandler house fast, call 480-861-8732 today and speak with one of our Home Buying Specialists!