The GR Team

Bank of America is excited to announce that for a limited time, they are offering enhanced relocation assistance payments in which qualified homeowners who initiate a short sale without an offer could be eligible to receive $2,500 – $30,000* in relocation assistance and owe no more on their mortgage with the sale of their property.

If you own a Metropolitan Phoenix or Scottsdale home, and your mortgage is with Bank of America, do not miss this limited-time offer to get the help you need by in… Continue Reading The Bank of America Short Sale Relocation Assistance Program

Many home owners are not aware of how a short sale would affect their ability to purchase a home after the short sale transaction of their current home closes.
The waiting period is not as long as many would think and in some cases, it could be even shorter than most lenders would lead on.
There are many factors which come into place when a home buyer is having to qualify for a home loan or mortgage. Often, one of the more critical aspects of the process for a home buyer, aside from ensuring … Continue Reading What is the Waiting Period for the Purchase of a Home After a Short Sale

In Phoenix there seems to be alot of confusion for homeowners with VA loans as to whether or not they can do a short sale. The answer is yes. I just recently assisted two homeowners, with VA loans, in the Greater Phoenix area, complete short sales. Those homeowners have now avoided foreclosure and they should be able to buy a home again in two years if they rebuild their credit during those two years.

I believe part of the confusion lies in the VA guarantee; homeowners think they have to p… Continue Reading Can I do a Short Sale if I have a VA Loan?

I recently have closed a few HAFA short sales which is very rewarding as the homeowner receives $3,000 at closing for relocation expenses.  However, the HAFA short sales that I have negotiated and closed did not really work exactly as the Treasury Department had originally intended or at least advertised.

When the Treasury Department introduced HAFA, it was supposed to complement HAMP (the Treasury Departments loan modification program.)  If a homeowner was denied a HAMP loan modification, … Continue Reading HAFA Short Sale With Indymac (OneWest)

Phoenix AZ – Yes, short sales actually help preserve home values in a neighborhood. Here is why.

Most people short sell their home while they are still living in the home. They are maintaining the home, mowing the yard, keeping the air conditioning on, etc. An occupied home is much better than a vacant home.

Most bank owned properties are empty for 3-6 months, if not longer. Rarely does the bank maintain the home during that time period. Empty homes are easy targets for vandalism and t… Continue Reading How A Phoenix Short Sale Helps Preserve Neighborhood Values

Phoenix AZ – If your loan has Private Mortgage Insurance, also known as PMI, then there is a high likelihood that they will request that you sign a promissory note.

<strong>Today’s blog post talks about how to convince the lender to waive it. </strong>

<a href=”http://stopforeclosure-scottsdale.info/short-sale.html”>Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.</a>

PMI companies are notorious for asking for pr… Continue Reading Phoenix Short Sales: How To Negotiate Away Promissory Notes

Phoenix AZ – We recently negotiated a short sale on a VA Loan. After the appraisal is complete and all the other necessary document have been received, VA guidelines state the loan servicer should give us an answer within 15 days.

The loan servicer took 65 days to give us an answer. That is a complete violation of VA’s requirements. “Oh, but that’s no big deal”, you might say.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

It is a… Continue Reading Loan Servicer doesn’t follow VA Short Sale guidelines on a short sale of a VA Loan

Phoenix AZ – The Stop Foreclosure Institute recently received a question from Arman. Here is his question.

I am a Seller trying to avoid foreclosure. My agent has a buyer and his offer is with the lender from last seven months. Now the lender told us that Fannie Mae investor refused the short sale offer and the house is going to foreclosure early next week.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

The lender’s own appraisal shows … Continue Reading Question from homeowner: I want to avoid foreclosure, but my lender won’t let me

The Arizona Republic reported that attorney generals from all 50 states say they will push for an agreement with mortgage lenders to help distressed homeowners.

Included in these agreements would be a standardized model for reducing the chances of an improper foreclosures, creating a fund to assist homeowners who were foreclosed on illegally and a standard procedure for loan modification requests and approvals. As many know, loan modification can take months and often lead to foreclosure wit… Continue Reading States Put Heat On Mortgage Lenders

Phoenix AZ – The Stop Foreclosure Institute recently received a question from Tim. Here is Tim’s Question.

“I have an elderly friend who recently finalized a loan modification through her lender. The mortgage company shows on their website that the mod has been processed and the new terms are in effect.

However, since foreclosure proceedings were begun before the mod was approved, her homeowner’s insurance holder will not renew her coverage policy, since the local Clerk of Courts rec… Continue Reading Question from homeowner: My homeowner’s insurance won’t renew my policy because my loan is in foreclosure