Short Sale Experts SellQuickForCash.com Is Helping Arizona's Homeowners Avoid Foreclosure!

ARIZONA REAL ESTATE SHORT SALE EXPERTS

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, SellQuickForCash.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 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. 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. 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 SellQuickForCash.com

WWW.SELLQUICKFORCASH.COM specializes in negotiating short sales for Arizona homeowners. At http://www.sellquickforcash.com/ we buy houses fast for cash with no Realtors, Fees, or Hassles!

WWW.SELLQUICKFORCASH.COM has a team of highly trained Short Sale Experts who have established fantastic relationships with most banks. We will handle your short sale transaction for you giving you the peace of mind you are searching for. The Arizona Short Sale Process is NOT a "do it yourself" project. To successfully negotiate a Short Sale In Arizona with a bank takes an experienced and highly trained real estate agent as well as a skilled negotiator. Our advanced process is extremely organized and we conduct these short sales in the quickest time possible relieving you of the fear of Foreclosure!

We Are A Member Of The BBB. We Have Many Referalls. We Are A Team Of Specialists That All Work On Your File!

602-626-3598

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Arizona Foreclosure Experts SellQuickForCash.com Created A System To Help Local Homeowners Avoid Foreclosure!

Local Arizona Company SellQuickForCash.com Helps Homeowners Stop Foreclosure Fast!

We know what you're feeling. You've had more than your share of difficulties the last few months. The good news is that you are not alone. Sell Quick For Cash can help you Stop Foreclosure Fast!

We understand that good people sometimes need a second chance. Most foreclosures are a result of an unexpected life event, such as:

• Death In The Family
• Difficult And Costly Divorce
• Lost A Job Or Had To Change Jobs
• Health Problems With Expensive Medical Bills
• Bad Decision When Pulling Out Or Refinancing Your Old Loan

Maybe you're struggling with increased utility prices or fuel expenses or an adjustable rate mortgage (ARM) that is unbearable. Maybe you've already had to file bankruptcy or get a forbearance and the repayment plan is not working out. Maybe this is all a big mistake and the payments you've been sending were rerouted or lost because your mortgage has been sold or traded. Let us help you stop foreclosure and get back on track.

When Good People Need A Second Chance

Whatever the difficulty, we understand how it feels to choose between a mortgage payment or groceries. We understand what it's like to have continual phone calls from your lender ... calls at home, calls at work and letters in the mailbox. You need to save your home but your lender is asking for too much money. You're not asking for them to forgive the loan but you need help creating a payment plan that you can handle. You just need someone on your side to negotiate with your lender to get you back on track.

Some Solutions If Your Financial Situation Was Only Temporary

Most Mortgage Companies will consider a Loan Modification, Deferment, Forbearance or a Repayment Plan as a first option to quickly bring the loan current. Our Foreclosure Specialists will use one of those options or perhaps a combination of those or any of the options below to develop your personalized strategy to stop Foreclosure.

• Reinstatement Plan
• Repayment Plan
• Loan Modification/Loan restructuring
• Loan Refinance
• Loan Forbearance
• Partial Claim

Some Solutions If You Can No Longer Afford Your Home, But You Do Not Want A Foreclosure On Your Record

• Pre-Foreclosure Sale
• Short Sale
• Deed-in-Lieu of Foreclosure

"Make no mistake.... to Stop Foreclosure you must act quickly and decisively. Your home will be sold unless you take the correct steps to satisfy the Mortgage Company and get your loan caught up."

We understand that each situation is unique and requires a custom solution to Stop Foreclsoure from a trusted expert. The best part about dealing with us, is we are a group of trusted experts that all contribute and play an important role on your foreclosure file. So when you chose to work with us, rest assured each team member of SellQuickForCash.com will get personally involved and collectively work towards a common goal...helping you avoid foreclosure fast!

SellQuickForCash.com has the resources and team in place to handle any housing / financial situation. Our team of specialists are highly educated on Arizona's foreclosure laws as well as the foreclosure process. Short Sales (http://www.sellquickforcash.com/shortsale.htm) 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.SellQuickForCash.com/

INFO@SELLQUICKFORCASH.COM

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Stop Foreclosure And Sell Your Glendale, Arizona House Fast With SellQuickForCash.com

Sell Your Glendale, Arizona House Fast - We Buy Homes in Glendale, Arizona!

Are you saying to yourself "I want to sell my Glendale house fast?" Are you saying to yourself "How can I stop foreclosure on my Glendale house?" If any of these questions are familiar to you, you need a reliable company to give you real solutions to foreclosure in Glendale, Arizona?

SellQuickForCash.com is a seasoned team of local experts that create custom solutions to your housing problems. If you are trying to sell your house quickly, or facing foreclosure, we can give you an all cash offer for your home. We pay cash for Glendale houses with no Realtor fees, plus we purchase your property as-is, meaning you do not have to do any repairs to your property. Don't bother painting, cleaning or taking out the trash. Just pick up your cash and move on with your life. Sell Your Glendale House Fast To SellQuickForCash.com!

If you are currently behind on your mortgage payments, and facing foreclosure in Glendale, you may not realize that you have many options. At SellQuickForCash.com, we pride ourselves on our foreclosure experience, and can give you a free "How to Stop Foreclosure in Glendale, Arizona" consultation. Most times, we can do it directly over the phone and it could open your eyes to many solutions that you never even new existed! Don't fight the foreclosure on your own. Trust the experts at SQFC.com and call 602-626-3598 now!

There are many reasons why you would want to sell your Glendale House to SQFC.com!

It is evident that the Arizona real estate market has changed drastically. Houses are taking much longer to sell, and homeowners like yourself are holding onto your homes longer than expected. Plus, you still you need to reduce the price monthly just to keep up with the declining, competitive market! Why deal with Realtors and picky buyers when you could call us and within 24 hours you could have an all cash offer with a quick close! We have the cash on hand to purchase your Glendale, Arizona house quickly. We are a local investment company that wants to create a win/win, cash purchase of your house. If you need to sell your house fast then give us a call.

Who Sells Their Glendale House Fast To Sell Quick For Cash Dot Com?

A lot of people have chosen to work with us!

• People who have trouble selling because of not having enough equity! These Glendale homeowners can benefit from our Short Sale program.
• People who have experienced a death of a loved one or the need to settle an estate. We can work with you and your family and give you an all cash offer that is fair for everyone!
• People who are tired of being a landlord. We know how difficult bad tenants can be. We also know how expensive it can be to have an old rental property. We pay cash for Glendale houses in their As-Is condition. Just call us and within a few hours we could make you an all cash offer on your investment property.
• Those that need to sell their house because of a divorce! Sell Quick For Cash understands that a difficult divorce can cause much stress in your life. Why add to that with the pressures of trying to "sell my Glendale house fast" in this difficult market?
• People who are behind on payments and facing foreclosure! The professionals at SellQuickForCash.com are Arizona Foreclosure Experts and understand Arizona's Foreclosure Process! We can educate you on your options to avoid foreclosure and save your credit.
• Anyone who purchased a new home and cannot sell their old one! Paying for one houses mortgage can be tough enough...let alone covering two mortgage payments! Why risk the unknown by hiring a Realtor and not knowing when your house might sell, if it sells at all? Contact SellQuickForCash.com and submit your property to us. We can give you an all cash offer on your Glendale, Arizona house fast.
• People who own vacant houses or houses that need repairs! Did we mention that we pay cash for Glendale, Arizona houses? Did we mention that we buy them in their As-Is condition in the timeframe you need us to?
• Homeowner's houses that have liens or title problems. We have a team of professionals in every aspect of the home buying process. Our experts can handle any title or lien issues preventing you from selling your Glendale house fast.
• People working with a real estate agent who hasn't come through as promised! Selling your Glendale house fast can be extremely difficult in today's tough market. Even if your Realtors intentions are good...even if they have a good marketing plan, it could take 4,5,6 or more months to sell your house! Why wait and compete with Arizona's 50,000 plus listings currently on the market when you could have peace of mind right now?
• Anyone facing a job transfer or relocation. If you are moving out of state, and need to sell your Glendale house fast, we have many options to choose from. We can pay you cash or we can partner with you and pay you over time!
• People from all walks of life who share the need or desire to sell their Glendale, Arizona house quickly, regardless of repairs needed.

Who Is SellQuickForCash.com

Take the time and visit our website http://www.sellquickforcash.com/to learn how you can sell your Glendale, Arizona House Fast. We are LOCAL, we are ETHICAL, we are FORECLOSURE EXPERTS, and we are SHORT SALE SPECIALISTS WITH A PROVEN TRACK RECORD! Why try and sell your Glendale house fast without first visiting our website and calling one of our Home Buying Specialists! We offer a FREE, NO OBLIGATION CONSULTATION! We have the cash on hand to close within 3 days...sometimes quicker if need be! There are many imitation investment companies out there that pay cash for your Glendale house, so spend the time and learn about those you are dealing with.

We have many referrals to validate our business practices! We are proud of our professionalism and always adhere to only the highest ethical standards. Also, when you deal with us, you can rest assured that your situation and any documentation shared will remain private.

Get Cash For Your Glendale, Arizona Home.
Private, Fast, Reliable, Respectful, Discreet.


http://www.sellquickforcash.com/
602-626-3598

Sell Your Tempe House Fast With www.SellQuickForCash.com. We Are Foreclosure And Short Sale Experts!

ARE YOU TRYING TO SELL YOUR TEMPE HOUSE FAST? ARE YOU FACING FORECLOSURE AND SEARCHING FOR ANSWERS?

The experts at http://www.sellquickforcash.com/ understand Arizona's Foreclosure Process and can assist you in preventing foreclosure in Tempe, Arizona therefore saving your credit! We understand that each situation is unique and that is why we create custom solutions to your housing / financial problems! We also understand that you are being bullied by your lenders, and feel threatened by greedy investment companies!

Below is a list of tips that we have created to ensure that you are getting a fair deal when working with a "We Buy Houses For Cash" investment company.

• Most important...make sure everything is in writing!


• Ask for a business address. Investors just showing up to your door are more than likely trouble so you should use extreme caution when signing any papers!


• Ask for "real" referrals from past clients to check their business practices!


• Check with the BBB to see if they are in good standing!


• Never sign a deal on the first consultation!


• Ask them if they are going to pay you cash for your Tempe house within days, or are they just trying to lock your house down in a contract and then go find a buyer? This is called wholesaling and unless they are up front about their intentions, many investors will try and put a contract on your house with no real intention to buy it! They then go out and try to find a buyer for your home for more money. These investors are not real buyers and you should make sure they put up some kind of earnest money when they sign the initial contract!


• Trust your gut...if it feels like a good match, make the deal!


• Ask for all options in writing and make sure you fully understand each one!


• Choose to use a company that has a strong team of professionals that each have one common agenda...helping you sell your home quickly and for a FAIR deal!


• Call SellQuickForCash.com, while you shop us, we can refer other professionals to shop as well that we know apply ethical business practices!

Take the time and visit our website http://www.sellquickforcash.com/to learn how you can sell your Tempe, Arizona House Fast. We are LOCAL, we are ETHICAL, we are FORECLOSURE EXPERTS, and we are SHORT SALE SPECIALISTS WITH A PROVEN TRACK RECORD! Why try and sell your Tempe house fast without first visiting our website and calling one of our Home Buying Specialists! We offer a FREE, NO OBLIGATION CONSULTATION! We have the cash on hand to close within 3 days...sometimes quicker if need be! There are many imitation investment companies out there that pay cash for your Tempe house, so spend the time and learn about those you are dealing with. We have many referrals to validate our business practices!

602-626-3598

Info@SellQuickForCash.com

http://www.SellQuickForCash.com/

Homeowners Throwing In The Towel And Walking Away From Their Mortgage.

Mortgage lenders see more borrowers give up

By Noelle Knox, USA TODAY

On the front lines in the mortgage foreclosure crisis, lender and loan servicer Dennis Lauria says his deepest losses are from borrowers who owe more than their homes are worth and simply mail in the keys, rather than try to work out a new payment plan.

"I can't get you to pay if you've got no skin in the game," says Lauria, senior vice president of Popular Mortgage Servicing in Cherry Hill, N.J., who says 14% of his customers with subprime loans — high-interest loans given to people with poor credit ratings — are in default.

Nearly 3 million homeowners were behind on their mortgages at the end of last year, the Mortgage Bankers Association (MBA) said last week. An additional 1 million-plus borrowers were at risk of imminent foreclosure. The number of foreclosures is likely to set records throughout the year and poses an increasing risk to the housing market, the financial markets and the economy.

Federal Reserve Chairman Ben Bernanke says the mortgage industry needs a "vigorous" response to help beleaguered homeowners. But what about the response — or lack of one — from borrowers?

In California, Florida and Nevada, particularly, where prices are falling the steepest, rising numbers of borrowers are giving up and abandoning their homes despite the significant damage a foreclosure can have on the credit ratings that determine their ability to get future loans.

Nationwide, more than half the borrowers who lose their homes through foreclosure never answered their lenders' calls or letters, according to Freddie Mac. And an MBA analysis found that 23% of loans in foreclosure last fall were to homeowners who had no contact with their lenders, and that an additional 18% were to absentee owners.

The numbers help explain why it's so difficult to reverse the trends of rising foreclosures and falling property values. Even some homeowners who can afford to pay their mortgages are defaulting, Lauria says, because their house might have lost 30% of its value, and they figure it will be a long time before it's worth what they paid for it.

"They say, 'If I play my cards right, I can live here free for 12 months, maybe longer' " before the lender can foreclose, Lauria says. "Our challenge isn't contacting the borrower. I can talk to them, but they stick their tongue out at me."

Hundreds of thousands of distressed homeowners are reaching out for help. The Homeownership Preservation Foundation, part of the Hope Now Alliance, fields more than 4,000 calls daily to its toll-free hotline (888-995-HOPE). But about 1 in 4 callers don't want credit counseling, the foundation says. Many simply want financial relief.

Thary Yin, 26, who works at Wells Fargo's call center in South Carolina, talks with 10 to 20 borrowers a day.

"A lot of the stories I hear from mortgagors are situations that are very, very extreme," she says. "I talked to a cancer patient, and after Katrina hit New Orleans, the stories I hear. … Wells Fargo offers solutions on the mortgage side, but on the personal side, you can only cover so much on a phone call. Not being able to do more personally is the most difficult thing for me."

Getting more aggressive

With home prices sliding and politicians calling for government and the mortgage industry to do more to help troubled homeowners, lenders and loan servicers such as Lauria are becoming more aggressive in contacting delinquent borrowers and modifying loans to make payments a bit easier.

Such tactics make sense for the loan industry: The last thing a lender wants is another vacant property to fix up and sell.

"We're becoming more realistic about where the market's going to go," said David Sunlin, senior vice president for foreclosures and bankruptcy at Countrywide Financial, which is the nation's largest mortgage lender and the focus of several government investigations into aggressive lending practices that made the company financially vulnerable.

With an inventory of nearly 40,000 foreclosed properties nationwide, Sunlin says, he will work with a borrower to try to sell a property, even with a sizable loss, up to the date it's scheduled to be auctioned at a foreclosure sale.

At JPMorgan Chase, which has seen foreclosures jump 38% in the past two years, cases now go from collections to the "loss mitigation" department just five days after a borrower misses a payment, so the company can try to find a faster solution to keep the homeowner in the property. Not so long ago, the loss mitigation department didn't get involved until 90 days after a missed payment.

As soon as a lender takes control of a property, the value begins to drop while the maintenance costs mount.

Safeguard Properties, a company many lenders use to change the locks, cut the grass and board up windows on foreclosed homes, has seen business rise more than 15% during the past year. A lender will pay $600 to $1,200, and more in some cases, for Safeguard to care for each property.

The largest surges in new foreclosures in the fourth quarter of 2007 were in California, Arizona, Nevada and Florida, where the frenzied real estate boom in the past several years attracted buyers who put little money down and got risky loans with virtually no proof of income.

Avoiding lenders

There are many reasons homeowners behind on their mortgages fail to contact their lenders, mortgage specialists say. Some don't believe their lenders can help them. Others fear it will only speed the foreclosure process. And some don't call because they simply don't have money to give the lender, according to surveys by Wells Fargo and Freddie Mac.

"It's (lenders') own fault that borrowers won't answer their calls," says Todd Buckner, CEO of National Housing Solutions, a for-profit mediator between borrowers and lenders to stop foreclosures. "Their collections departments have beat (delinquent homeowners) over the head for months. It's no wonder borrowers won't answer the phone."

To reverse public perception that they don't want to work with troubled borrowers, lenders are hiring and training hundreds of employees to answer calls and help borrowers restructure their mortgages. They also are turning to more creative ways to try to reach at-risk homeowners.

The Hope Now Alliance, a coalition of 28 lenders and loan servicers supported by the Bush administration, has mailed more than 1 million letters since December to borrowers with subprime, adjustable-rate mortgages (ARMs). In many cases, the lenders are offering to freeze the borrower's interest rate for five years. In other cases, borrowers may qualify for a 30-year, fixed-rate loan. Even so, the response rate has been less than 20%, on average.

To find homeowners who have stopped paying their mortgages and moved out, lenders use companies known in the trade as "skip tracers." One of them, Players National Locator, for example, is receiving 7,000 cases a month from lenders looking to track down delinquent homeowners, up 20% since September.

Martin Goodman, president of Residential Capital in San Diego, sends his delinquent borrowers a $5 Starbucks gift certificate, along with documents that explain how his company can help them restructure their loans and avoid foreclosure. His response rate is only 10%.

But Goodman says making contact is only one challenge. The other is persuading delinquent borrowers to tell the truth about their financial condition. He suspects at least 90% of borrowers don't explain the real reason they are falling behind on their payments out of fear it might accelerate their foreclosure.

"Everybody's grandmother is dying. Everybody's kid is having surgery," Goodman says. "I'd rather somebody say, 'We mismanaged our debt. This is what we make, and this is what we can afford.' "

A 'sense of entitlement'

As home prices fall from coast to coast, 8.8 million homeowners will have mortgage balances equal to or greater than the value of their property by the end of the month, Moody's Economy.com. predicts.

That could come as a shock to consumers who thought property values would always rise, and it helps explain the attitudes lenders are seeing among their troubled customers, Goodman says.

"If you buy a car and it depreciates," Goodman says, "you don't expect the automobile dealer to write off your loan. There's a sense of entitlement (among homeowners) that is just unbelievable."

Goodman, whose firm specializes in home equity credit lines, says the main reasons people took out the loans were for home improvement, debt consolidation and medical expenses. But he estimates that about 20% used the cash to go on vacation or buy a new car.

Stories like his are fuel for the opposition in Washington against a government bailout for homeowners facing foreclosure. On the other side, consumer advocates such as the National Community Reinvestment Coalition (NCRC) can cite a litany of abusive lending practices that hurt homeowners.

"The government ought to get involved because there's been a market failure," said John Taylor, CEO of NCRC. "Our proposal is for the government to act as a cash-flow agent, to temporarily acquire the mortgages creating these problems long enough to refinance them into sensible terms and conditions. There would be no bailout because the government gets paid back."

So far, the Bush administration has backed two initiatives from the Hope Now Alliance to help some homeowners avoid foreclosure. But their restrictions severely limit their effectiveness.

In December, for example, the alliance said it would freeze interest rates or refinance an estimated 1.2 million homeowners with subprime ARMs. To qualify for the interest-rate freeze, borrowers would have to be facing a 10% increase in their mortgage payment once their interest rate reset. But many subprime ARMs are tied to an international index that has fallen 2 percentage points since Christmas.

"In our portfolio, 60% of the borrowers who would have gotten fast-tracked (under the Hope Now plan) would not get that now that the rates have changed so much," said Melissa Lucas, director of loss mitigation for Home Loan Services.

Instead of a payment increase of $450 a month, on average, her customers will see their payments rise by only $135. They may still qualify for other loan modification programs, she said, but not for the Hope Now plan.

FHA can help, sometimes

In a separate push, the administration backed this year's temporary increase in the maximum loan limits of the Federal Housing Administration, which caters to first-time and low-income borrowers.

The FHA also has created a new loan program, called FHASecure, to help subprime borrowers refinance out of risky ARMs. Since it was announced in fall, the FHA has received about 277,000 applications and approved fewer than half of them.

In New Jersey, Lauria said he sent the FHA about 3,000 of his company's delinquent loans to see how many could be refinanced under the FHASecure program. The answer: 61.

Even for the borrowers who contact their loan servicers, the options the companies can offer are tightly constrained by their contracts with investors who buy and sell pools of loans that are packaged as bonds.

But Lauria doesn't believe every homeowner who can't pay their mortgage can or should be saved.

"One-third of people who are delinquent should be in foreclosure. It's the best alternative," he says. "They don't have the money. They shouldn't have (gotten the loan) to begin with."

And that's why, he says, he doesn't blame some of them for walking away from their homes.

Is The Governments Plan To Help Homeowners Avoid Foreclosure Enough??? -www.SellQuickForCash.com-

This is another statistic that lends to the reason why short sales are becoming a popular method of liquidation for lenders. The homeowners usually work out a payment plan with their lender and 80% of them don’t even receive a FIRST PAYMENT! It is no wonder why banks are discounting properties so frequently. Now is the best time to look at short sales as an exit strategy from your home!

CRL Criticizes Government’s Loan Modification Program

Article: Kerri Panchuk

The Center for Responsible Lending (CRL) says the U.S. Treasury Department’s existing plan to help distressed homeowners is ineffective and realistically will only have the impact of preventing 118,200 foreclosures, which is only 3-percent of the outstanding subprime loans that are in the marketplace heading towards rate resets.

CRL said, “This analysis shows the Treasury plan, plus existing lender modifications, barely make a dent in the growing foreclosure crisis and will allow subprime damage to continue spreading through the entire economy.”

In a critique of the plan, CRL claims data supplied by the Mortgage Bankers Association points to a disturbing trend in which voluntary loan modifications will be significantly outnumbered by potential foreclosures.

Below is a verbatim list of CRL’s criticisms of the Treasury Department’s plans:(Source: CRL)
On all loans, industry data show that for every loan modification made by a lender, seven times as many foreclosures are initiated. For the subprime adjustable-rate mortgages (ARMs) that are at the root of the current crisis, foreclosures outnumber modifications 13-to-1.

Lenders are giving themselves credit for loan "repayment plans," but these should not count. Repayment plans make homeowners’ monthly mortgage payments higher. And they allow lenders to designate a distressed loan as being current without actually changing any of the terms that made a mortgage unaffordable in the first place.

It is questionable whether even the true loan modifications will be sustainable because lenders have no obligation to report outcomes. In fact, previously Countrywide acknowledged that most of its touted modifications actually "involved deferring overdue interest or adding the past due amount to a loan," not reducing interest rates or principal balances on unaffordable subprime ARMs

www.SellQuickForCash.com Specializes In Helping Homeowners Short Sale Their House(s). We Are Highly Educated Loss Mitigation Specialists With Years Of Negotiating Expertise! If You Are Considering A Short Sale, Contact Us For A Free, No Obligation Review Of Your Options.

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Are You Facing Foreclosure? Real Advice On How To Deal With And Avoid Foreclosure!

At www.SellQuickForCash.com we answer countless calls, and show up at many houses where homeowners who are facing foreclosure are not sure or understand what is happening to them, and more importantly, what to do about it! If you are falling behind on your mortgage payments and are getting letters and phone calls from your lender(s) asking you to contact them, then here are a few tips for dealing with foreclosure.

1. DO NOT IGNORE YOUR LENDER

You have options at this point and by ignoring the problem you are making it more and more difficult to negotiate a work-out plan (forbearance agreement) with your lender(s). The further behind you become the chances you will lose your home increases.

2. EVALUATE YOUR SITUATION

Do you have any equity in your house that you are trying to protect? This is the golden question and is not always easy to answer. Many of us created HUGE equity when the housing market went nuts in 2004-2005. Unfortunately many of us did not sell during that time and instead refinanced and stripped the equity from our house! Two things are happening today….one, prices are falling and therefore our equity is disappearing, and two, we have overleveraged our houses and already spent the money.

If you evaluate your situation and realize that you do have significant equity in your home, you actually have some really good options! You could list your home with a highly skilled and determined Realtor that uses strategic pricing and strong marketing to sell your home before you go to foreclosure. Or, you could contact a company like http://www.sellquickforcash.com/ and sell your house within 3 days with no Realtor fees, repairs needed, closing costs, or hassles!

If you evaluate your situation and realize that you do not have any equity in your home, a Short Sale is a great option for avoiding foreclosure and if you CLICK HERE, we will explain the ins and outs of this amazing exit strategy!

3. UNDERSTAND YOUR OPTIONS

First, you want to try every available means to stopping your foreclosure before you decide to sell your house quickly. Contact www.HUD.gov/foreclosure/ for some great foreclosure advice. You can also visit www.fha.gov/foreclosure/index.cfm for more free advice. While we agree that these government services are great for some homeowners, they are not always able to act in the speed you might need to avoid foreclosure. Depending on your equity position, you can also:

SELL YOUR HOUSE FOR CASH: Maybe you are currently FACING FORECLOSURE or have other financial pressures and are forced to sell your house quickly. It can take 3...6...9 months or more to sell the traditional way, and there is no guarantee you will sell fast enough before the auction takes place. Whatever your reason is for needing to sell quick for cash, we have the cash available, and the team of experts in place to close in as little as 3 days. We buy homes all over the Phoenix Metro area and can buy yours too!

SELL YOUR HOUSE FOR CASH AND RENT IT BACK: There are many reasons why you would want to sell your house to us and keep living in it. Financial pressures, a difficult divorce, a pending foreclosure are just a few of the many reasons you may need to sell quickly. This option is perfect for anyone that says "I want to sell my house fast" but does not want to move out yet. You can rent your home back for as little or as long as you wish and the best part is we will always structure the deal at very competitive market rent rates.

SELL YOUR HOUSE FOR CASH, RENT IT BACK WITH AN OPTION TO BUY AT A PRE-DETERMINED PRICE: If outside circumstances have forced you to sell your home without you wanting to move, we can create a plan with a short-term rental, or long-term rental that has an option to buy-back the home at a pre-determined price. This allows you to get quick cash for your house, continue living in it, and buy it back for less than market value while saving most of your hard earned equity. This is a great option if you believe your situation is only temporary and you will want to continue owning your home in the future once your finances get stronger! The best part of this deal is all of our rental rates, and buy back options are set up fairly with the price agreed upon in advance.

If you do not have any equity, you can:

NEGOTIATE A SHORT SALE WITH YOUR LENDER: A Real Estate Short Sale refers to a lender(s) accepting a sales price that is less than what is currently owed plus all related sales expenses. This is common in a declining housing market and can be a win-win for both the bank and the homeowner. Normally a bank will begin to look at the short sale option only if the homeowner is behind on payments and begins to face foreclosure. This option is great if you have no equity and can find a skilled Realtor or Investment Company that understands how to negotiate through the short sale process.

4. AVOID FORECLOSURE PREVENTION SCAMS

If a company is sending you letters, calling you on the phone, or showing up on your doorstep and is promising to stop the foreclosure auction if you sign some paperwork, more than likely they are trying to take advantage of your situation and steal your equity. The most common scam in the foreclosure industry is where a fast talking person shows up with a lot of paperwork saying that he was sent there by your lender(s) and can stop the auction and refinance your home if you sign all the documents. What you are unaware of is within all those documents, is a purchase contract, and the deed to your house! Before you know what has happened, the so called representative is gone and you no longer own the equitable rights to your home. They then go out and use someone with good credit to pull cash out of your house and vanish without a trace! Follow the links for other well known foreclosure scams. The more you know and understand, the less likely you will ever fall into one of these traps!

http://www.consumeraffairs.com/news04/2005/virtual_realty.html

http://www.bankrate.com/brm/news/mortgages/20050728a1.asp?prodtype=loan

If you would like to learn more about our company and the options we could provide you in this temporary time of financial need, please contact us anytime. Our consultations are always free and there is never any obligation to use us.

We are so confident in our abilities, that we share who our competition is on our “Who We Are” page for you to comparison shop. One of our Home Buying Specialists is waiting for your call!

www.SellQuickForCash.com

Info@SellQuickForCash.com

480-861-8732

Want Short Sale Or Foreclosure Advice? Are You Trying To Stop Foreclosure In Arizona By Short Selling Your Home?

ARE YOU INTERESTED IN SHORT SALES? ARE YOU ASKING YOURSELF "HOW TO SHORT SALE MY HOUSE?" ARE YOU TIRED OF FEELING LIKE YOUR SINKING IN DEBT?

HTTP://WWW.SELLQUICKFORCASH.COM CAN PAY CASH FOR YOUR ARIZONA HOUSE FAST! WE BUY AND NEGOTIATE SHORT SALES!

A lot of homeowners that visit our website call us to understand HOW SHORT SALES WORK? I created this quick Blog post to give a fast explanation on the ins and outs of short sales in Arizona, as well as give a good understanding of the short sale process! The following are some general questions we get when homeowners call:

Is doing a Short Sale a good option for a homeowner that is having a tough time selling in today’s market because they owe as much or more than their house is worth?

First, we have to understand the three major areas of a homeowner’s life that a short sale could affect:

1. Credit Issues

A short sale may adversely affect a borrower's credit rating because a lender can report for seven years that a loan has been "settled" for less than its balance. Although a lender is unlikely to change what it reports to credit bureaus, a borrower may attempt to negotiate this issue when arranging the short sale or request a letter from the lender detailing any extenuating circumstances surrounding the short sale. We use http://www.genesiscreditgroup.com/ when dealing with any credit concerns!

2. Deficiency Judgment

In order to recoup any shortfall in the final sales price, including attorney's fees, court costs, and accrued interest charges, the lender must file a deficiency judgment. A deficiency judgment is defined as a judgment that has been issued when the collateral for the loan is inadequate to satisfy the lender's debt completely. Arizona is a Non-Deficiency State meaning that most single family residences are not at risk to cover the difference between the amount owed, and the amount accepted from a Short Sale. According to http://www.azleg.state.az.us/ars/33/00814.htm the law is as follows:

33-814. Action to recover balance after sale or foreclosure on property under trust deed

F. A deed of trust may, by express language, validly prohibit the recovery of any balance due after trust property is sold pursuant to the trustee's power of sale, or the trust deed is foreclosed in the manner provided by law for the foreclosure of mortgages on real property.

G. If trust property of two and one-half acres or less which is limited to and utilized for either a single one-family or a single two-family dwelling is sold pursuant to the trustee's power of sale, no action may be maintained to recover any difference between the amount obtained by sale and the amount of the indebtedness and any interest, costs and expenses.

Lets Recap:

Arizona is a non-deficiency state and as long as your home qualifies under the above foreclosure laws, you do not have to pay back the difference between what you owed, and what you finally sell your home for! Just to be safe, a good Realtor or Investor should negotiate for the lender to put in writing to waive their right for a deficiency.

3. Tax Complications

When completing a Short Sale, possible tax issues can arise for the homeowner. As such, an owner considering a Short Sale should be encouraged to discuss these issues with an attorney, accountant, or other appropriate professional. From my understanding, the debt forgiven by a lender is generally taxable to the borrower as "debt discharge income." When a taxpayer receives proceeds from a new loan, those proceeds are not taxable income because there is an offsetting obligation to repay. However, if the debt is cancelled, there may be debt discharge income. This basically means that if you owe $200,000 and Short Sale the home for $150,000, on your next tax return it could look like you have $50,000 worth of earned income from the sale of your residence and would be treated as taxable income. IRS Form 1099-C: Cancellation of Debt will be sent to you at the end of the year.

BREAKING NEWS! H.R. 1876: The Mortgage Forgiveness Debt Relief Act of 2007 would eliminate the tax owed on any forgiven mortgage debt. This bill has been passed and signed into law by the president! The bill permanently eliminates tax on up to $2 million of debt for a principal residence. The best part about this bill is that it is retroactive to January 1st, 2007. This means that any Short Sale conducted after that date automatically is protected from any tax implications! For more info, please visit http://www.whitehouse.gov/news/releases/2007/12/20071220-6.html

Let’s Recap:

The bank accepts a Short Sale, your foreclosure is canceled, and you sell your home for less that what you originally owed. The new House Bill H.R. 1876 should protect you, but if you do not qualify, and you receive a 1099-C: Cancellation of Debt at the end of the year, you still have options! Ask your accountant about the IRS Form 982: Reduction of Tax Attributes Due to Discharge of Indebtedness (http://www.irs.gov/pub/irs-pdf/f982.pdf). If you can prove your insolvency (your expenses outweigh your income) then you should qualify for an exemption and not be taxed on the deficiency.

How does a typical short sale negotiation work (i.e. the general process)?

Short Sales are a difficult and time consuming process that only true professional negotiators should undertake. You only have one shot to get it right or you risk facing a foreclosure on your record! Here's the general process:

1. Initial offer is made and agreed to between buyer and seller (subject to lender's approval) 1-3 days

2. Short Sale package is prepared and submitted to lender - Week One

3. Lender processes the package through their system - Week 2

4. Lender orders a Broker's Price Opinion - Week 3

5. Lender says they can't find the package and asks you to resubmit it. Week 4-5

6. Broker Price Opinion is Performed and submitted to lender - Week 4-5

7. Broker Price Opinion is evaluated by Lender - Week 6

8. Lender says they can't find the package and asks you to resubmit it - Week 6

9. Loss Mitigation Specialist is Assigned and Whole Package is Reviewed - Week 7-8

10. Lender proposes A Counter Offer - Week 9

11. Negotiation Continues - Week 10-12

12. Agreement is reached and the closing takes place within 30 days.

What are some of the negotiating practices you have found to be effective?

First, understand the goals of the parties involved:

• Buyer: Wants to buy as low as possible
• Lender: Wants to sell as high as possible
• Real Estate Investor / Realtor: Wants to buy a property below market value or earn a commission. Also, they want to follow the law in their state.
• Seller: Praying that it all works out and stops the foreclosure

Second, listen more than you talk. The other side always wants to be heard. If you don't let them tell you their side, you are going to lose.

Third, Always let the other side talk first. There is an axiom in negotiating, "He who speaks first loses."

Fourth, remind everyone that you are trying to reach a win/win solution.

Fifth, remember that NO is not a final answer. You may have to go through 7 NO's to get to the YES you want.

Are there any common mistakes you see people make in short sale negotiations?

1. Lenders mistakenly believe the BPO (Brokers Price Opinion) is correct. However, the BPO is usually prepared by an inexperienced agent because the lender only pays @ $50.00 for it. It is our job to influence the BPO to reflect the true market value!

2. Buyers become impatient and lose sight of their goal. If we are negotiating a short sale on behalf of a seller and we find an end buyer other than ourselves to purchase the property, it is our job to keep the end buyer on the line long enough to finish the negotiating process!

3. Becoming angry is a negotiation killer. The Loss Mitigation processors at the banks are overwhelmed with the amount of foreclosures they are getting back on a daily basis. Imagine you working in a call center only dealing with hundreds of angry homeowners and short sale negotiators all day long! It is our job to constantly stay in touch with our assigned Loss Mitigation processor and stay on their good side. We have many negotiating tricks and techniques that get the job done, but avoid pissing off these overworked bank employees!

Can you give me a specific example of a negotiation that went particularly well, or particularly poorly, and why it went the way it did?

Seller Owed: $320,000

We Offered: $199,000

BPO: $219,000

Field Test: $240,000 (This was like an appraisal review)

Lender's Counter-Offer: $240,000 Close in 7 Days

Our Counter-Offer: $209,000Our Offer Was Accepted!

This short sale took two and a half months to complete! The house needed about $15,000 worth of repairs and was in an o.k. location in North Phoenix. The major negotiating stance we took was that it bordered the 202 Freeway, needed some repairs to get it up to a marketable condition, and had over 45 bank owned properties and listed short sales within a 2 mile radius! Our expert negotiator worked diligently on this file and in the end the homeowners avoided foreclosure and we were able to purchase the house for a great deal!

Is there anything else you think is important for homeowners to know?

1. Work with an experienced Real Estate Investment Company or Realtor unless you like to learn things the hard way. Lenders will not allow you to negotiate your own short sale no matter what they tell you in the beginning! Local investment companies all say and do the same things, it is the character one conducts business in, the ethics they abide by, and the systems they have in place that sets a good investment company above the rest.

At SellQuickForCash.com we pride ourselves on our commitment to our clients and their families! We only choose to work with those that we truly feel we can help in their brief period of financial despair!

2. Make sure you have plenty of patience and can stay calm during this time-consuming process. We will do everything in our power to keep you informed every week so you understand where in the process we are! We take great pride in our organization and short sale system we have created and believe we are the best option for homeowners that are upside down, have a verifiable hardship, and need to sell their house quickly to avoid foreclosure.

WWW.SELLQUICKFORCASH.COM/SHORTSALE.HTM

INFO@SELLQUICKFORCASH.COM

480-861-8732

WE STOP FORECLOSURE, WE SHORT SALE YOUR HOUSE, WE SHORT SALE HOMES, WE BUY SHORT SALES, WE PAY CASH FOR SHORT SALES, SHORT SALE EXPERTS, FORECLOSURE EXPERTS, SELL YOUR HOUSE FAST, WHAT IS A SHORT SALE, HOW TO SHORT SALE MY HOUSE, PAYING CASH FOR HOUSES, SELL MY CHANDLER HOUSE FAST, SELL MY TEMPE HOUSE FAST, SELL MY MESA HOUSE FAST, SELL MY GILBERT HOUSE FAST

Local Short Sale Experts Help Arizona Homeowners Short Sale Their Houses! www.SellQuickForCash.com

Are you asking yourself "How To Do A Short Sale On My House?" How about "What Is The Short Sale Process And How Does It Work?"

www.SellQuickForCash.com Buys Short Sales In Arizona!

It normally starts with by a job loss, death in the family, medical emergency, or option ARM adjusting. You fight to pay your debts, you understand that you don't have enough equity to refinance, and eventually you have to make a choice of which bills to pay....your mortgage, your car, or your credit cards. After you miss that first payment, your mortgage lender starts calling you. By the second month they start harassing you, and by the third month they start threatening you. Their big solution....pay them a large chunk of your arrears (the amount you owe them plus late payments, attorneys fees, and interest) and the rest will be spread out over a year's time increasing your monthly payments by hundreds of dollars. WOW, what a solution...let's raise my payments seeing how I am just overwhelmed with extra money each month!

So you accept the forbearance plan and try paying your lender what they want, quickly realizing how impossible this task really is. Finally you give up and miss some more payments resulting in the lender(s) filling for foreclosure. You ask yourself "what are my options?" Fortunately you have some choices...let's review them here:

Option #1: Pay Off Your Arrears

This option only works if you actually have some money, or have the ability to borrow some money. This is by far your best option, but lets be real...if you have money you probably won't be facing these circumstances and you would be reading this purely for entertainment purposes.

Option #2: Deed-In-Lieu

The process of transferring ownership from you back to the lender is called a Deed in Lieu of Foreclosure, and it is sometimes referred to as a "friendly foreclosure". If there are no other liens on the title, the lender may agree to take the property back. Unfortunately this option does not protect your credit, nor will it cut off the rights to the junior lien holders so this normally only works if there is only one loan on the property. Also, this option avoids the possibility of a deficiency judgment in the event the property fails to produce enough income to cover the outstanding debts after it goes to auction. If you have a lot of equity in your home, this is a horrible options seeing how you will give up your rights to receive any surplus from the auction!

Option #3: Do Nothing And Let It Go To Auction

This is by far the worst of your options. A foreclosure on your record has a devastating impact on your credit, your health, your love life, your job, basically all daily activities for about 7-10 years. You will be evicted from your home and you will leave with nothing in hand. You must try something, anything to stop this from happening. You have many options if you have a ton of equity in your property, but the walls can feel like their closing in if you are upside down in your home. Fortunately there is a solution!

Option #4: A Short Sale

A Real Estate Short Sale refers to a lender(s) accepting a sales price that is less than what is currently owed plus all related sales expenses. This is common in a declining housing market and can be a win-win for both the bank and the homeowner. Normally a bank will begin to look at the short sale option only if the homeowner is behind on payments and begins to face foreclosure. The process works like this:

• The homeowner(s) begin to miss payments


• The lender(s) try to arrange a repayment plan


• The repayment plan fails or is never attempted and the bank mentions a short sale

Requirements for a short sale are:

• A proven financial hardship


• Behind on payments (In most circumstances)


• You owe as much or more than your home is currently worth


• The homeowner requestS a short sale packet from their lender(s)


• The bank notifies the homeowner(s) that they can't turn in the short sale packet until they have a signed purchase contract


• The homeowner(s) have to decide what to do next

http://www.sellquickforcash.com/ specializes in negotiating short sales for Arizona homeowners. At www.sellquickforcash.com we buy houses fast for cash with no Realtors, Fees, or Hassles!

WWW.SELLQUICKFORCASH.COM has a team of highly trained short sale experts who have established fantastic relationships with most banks. We will handle your short sale transaction for you giving you the peace of mind you are searching for. The short sale process is NOT a "do it yourself" project. To successfully negotiate a short sale with a bank takes an experienced and highly trained real estate agent as well as a skilled negotiator. Our advanced process is extremely organized and we conduct these short sales in the quickest time possible relieving you of the fear of foreclosure!

CALL 480-861-8732 OR GO TO http://www.sellquickforcash.com/shortsale.htm NOW!

SellQuickForCash.com Case Study: Deed-In-Lieu Vs. Short Sale

Yesterday, a fellow investor sent me the following email regarding Short Sales Vs. Deed In Lieu:

I have a client that I am working with on a short sale for their house. Before talking with me they had already started the process with their first mortgage holder for a "deed in lieu of foreclosure". The lender has told me that they will consider either the deed in lieu or a short sale but not both. If I start the short sale process they will stop the deed in lieu process. The first mortgage holder will provide an initial readout on the deed in lieu on 12/29. My inclination is to wait on any short sale discussions until that time so that the homeowner will have that information from the lender before we start any short sale discussions.

Can you provide a summary of the advantages and disadvantages of a short sale vs a deed in lieu of foreclosure? I would like to provide some information to the homeowner so they can decide how to proceed. The other detail on this situation is that the homeowner also has a second mortgage. No discussions have taken place with the second mortgage holder so far. The house is not worth what is owed on the first.

This is a great question and I thought I would share what I know about Short Sales Vs. a Deed In Lieu.

Deed In Lieu Of Foreclosure:
A "deed in lieu of foreclosure" is when you voluntarily give your house back to your lender and move out. In exchange, the lender stops the foreclosure and agrees not to sue you for more money if the house is sold for less than the amount you owed. Since a DIF does not wipe out junior liens (i.e. 2nd mortgage or other liens), banks will usually NOT accept a DIF because they do not want to inherit the junior liens against the house. Also, you will not receive any money for your house when you use a DIF.

Bottom Line: In general, to take advantage of this solution, you must only have one mortgage. If you have a 2nd mortgage, 3rd mortgage, etc, most banks will not accept a DIF.

Short Sales:
A "short sale" is an agreement with your lender to accept less money than they're owed as full payment for your loan. This solution often makes sense when you owe more than the property is worth. For example, if you owe $500,000 but your property is only worth $420,000, a short sale may be your only option. Rather than trying to negotiate a short sale yourself, often times its better to call a professional who is experienced in negotiating with lenders. A short sale requires selling your property to an end buyer who will live there, or an investor who will negotiate with your lender on your behalf. There are no guarantees that the lender will accept the short sale. Keep in mind that your bank does not want your house back! It is considered a non-performing asset and they cannot have too many on their books! They want to work something out with you. As part of the short sale agreement, the lender prohibits you from receiving any proceeds from the sale. In other words, the investor cannot give you any money for your house. However, the investor may be able to give you some money under a "Bill of Sale" for household items such as furniture and personal effects such as jewelry or art.

Bottom Line: To take advantage of this solution, you need to have the following:

• A Hardship
• Owe As Much Or More Than Your House Is Worth
• A Realtor Or Short Sale Negotiator That Knows The Process And Paperwork Required By The Bank(s)

So to answer the investors question: I would first get all the financial information from the homeowner. I would want to know all about their financing (loan structure), and why they is going into foreclosure (his hardship). I would also take into consideration the local market and see if there is ammunition to take to the bank when negotiating my offer! Most investors don't realize how much work a Short Sale is and selfishly try to discount the home only to fail, when in fact all they are doing is wasting valuable time that the homeowner really can't spare. In my opinion, the bank will not allow a Deed In Lieu of Foreclosure because there is a second lien on the property, and a Short Sale will be this homeowners best option. (I would also check into a Loan Modification to see if that would be your homeowners best option...but thats for another case study!)