Today, Kevin and Fred would like to speak about making the mortgage payment or missing the mortgage payment. So, how does the staff at Group 4610 process this situation?
As real estate specialists we have to be very careful not to direct our customers to skip payments and also not to direct customers to make payments. Perhaps the best thing that we can do for the clients is to have them call the bank.
Normally, if you phone the bank and ask them about this state of affairs, they will advise you that they only do short sales for clientele that are missing or behind on payments. That is an interesting reply. The bank won't tell you to skip payments. Nevertheless, they are basically telling the clientele how to get a short sale completed.
It's important to talk to your agent about this. In early 2009, short sales were being closed on a regular basis without the customers missing payments. Nevertheless, major investors similar to Fannie Mae have now publicly acknowledged that they will not look at a short sale if the property owner is current with their payment.
Kevin and Fred are essentially informing their customers that they will not list their home unless they are delinquent. Note that Kevin and Fred are not telling customers to skip payments. This decision of missing payments is investor explicit, property specific, client specific and bank explicit. Each short sale is distinctive.
There are explicit reasons why you may take a client short sale without missing payments. For illustration, divorce and job relocation are all clear hardships that may factor in your decision. We certainly aren't telling you how to carry out your business, just how we operate ours.
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