PHOENIX SHORT SALES: MYTHS

Short Sales are Impossible and Never Get Approved

Nothing could be further from the truth!

• Are short sales more difficult? Yes.
• Do you need to learn a new process? Yes.
• Are they impossible? ABSOLUTELY NOT!!!

You have come to a website that is owned by The KC Real Estate Group, Phoenix Metro Area SHORT SALE EXPERTS who are trained and certified to give you the best opportunity to get your short sale completed successfully.

Banks are Not Accepting Short Sales

The reality is that banks (and the government) are trying to do anything they can, within reason, to avoid foreclosing on property. To think that they would deny a Short Sale in hopes that some future legislation will pass and pay them for their loss is preposterous.

The reality is that more banks are aggressively pursuing Short Sales and agents (like the one who gave you this report) who understand how to process them. Freddie Mac recently hosted a national training webinar for real estate agents where they expressly stated the organizational goal of "eliminating distressed assets through modification or short sale".

Listing my Home as a Short Sale is an Embarrassment

It is understandable that you may have reservations about letting the world know that you owe more on your home than it is worth however, understand that according to recent estimates, 1 out of 5 homeowners in the US is in your exact situation. You are to be congratulated for admitting you need help, taking action, and finding a professional who can work with you towards a solution.

With 40 to 60% of the sales in the US predicted to be Short Sales or foreclosures you are not alone!

You Must be Behind in on your Mortgage in Order to Negotiate a Short Sale

While it is true that initially some lenders wanted you to be in default (missed a payment) before they were willing to consider a short sale - this trend has almost all together reversed. Today lenders are looking for verifiable hardship, monthly cash flow shortfall or pending shortfall and insolvency.

If you meet these three requirements and are in a position where you will soon not be able to afford your mortgage, act now! Don't wait until the countdown clock to foreclosure has started and you have even less time left.

Buyers are Not Interested in Short Sales and Avoid Them

This is a myth that potential sellers hear all the time - thankfully the reality is that today it is not. In fact many agents are getting calls from buyers who say "I only want to look at foreclosures and Short Sales!"

Short Sales and Foreclosures have become synonymous - not with issues - but with GOOD DEALS. International buyers specifically are interested in these properties. If you list with the educated CDPE agent who gave you this report you have a very good chance of seeing a contract on your property, soon.

There is not Enough Time to Negotiate a Short Sale Before My Foreclosure

This is a myth that probably hurts homeowners the most. Many don't realize that foreclosure is a process and there is time.

The foreclosing party (in most cases a lender) can stall a foreclosure up to the final day of the process. These days many lenders will stall a foreclosure with as little as a phone call from you letting them know that you are trying to sell. Almost all lenders will stall a foreclosure with a legitimate contract, in our view there is always time until the foreclosure process is complete and final.