Yost Realty Group - Distressed Property Experts

Testimonial: How did you prepare your home for the short sale process?

Tue, 01 Jun 2010 10:38:58 GMT

Testimonial: Did you have any issues during the short sale process?

Tue, 01 Jun 2010 10:36:53 GMT

Testimonial: How is your stress level now that you have completed the short sale process?

Tue, 01 Jun 2010 10:32:49 GMT

Testimonial: Does it matter who you hire for your short sale?

Tue, 01 Jun 2010 10:15:22 GMT

Testimonial: What advice would you give someone going through the short sale process?

Tue, 01 Jun 2010 10:12:32 GMT

Can't Make Payments? Don't Abandon Your Home!

Tue, 19 Jan 2010 21:54:47 GMT

It happened again today. I spoke to another person who abandoned a home because they thought they would lose it to foreclosure. I understand the hopes and dreams they had as new homeowners are dashed by the economic challenges of this market, and they may feel as though they have no other options. In reality, it may take months for the home to actually be acquired by their bank and in the meantime neighborhood home values will be negatively impacted as landscaping dies, the pool turns green and weeds grow in the yard of this abandoned home.

If a homeowner is struggling financially or feels desperate because their mortgage balance exceeds current market value, abandoning their home is actually the last thing they should do. Contrary to popular belief as well as the folks who answer the phone at the mortgage company, lenders do not want to foreclose on their property. I know of homeowners who haven’t made a mortgage payment in over a year who are still in their homes.

Many people erroneously believe that if they miss a mortgage payment the bank will foreclose and this means that they and their belongings will be thrown out into the street. Arizona law protects homeowners by giving them a minimum of 90 days legal notice before the actual trustee’s sale takes place. And that notice of foreclosure (which starts the 90-day time period) usually won’t begin for months after the first monthly payment is missed.

As in every natural and manmade disaster, there are those individuals and companies who find a way to prosper in the face of others’ distress. I’ve spoken with countless homeowners who have paid companies thousands of dollars to help them modify their loans, seek short sale approval or induce them to sign over their property with the ability to rent the property until some future date when they can purchase it again. The federal government has laid out guidelines and provided financial incentives to mortgage companies to assist borrowers with loan modifications and foreclosure alternatives, such as short sales, at no cost to the homeowner. I repeat: There is no need to pay anyone money to participate in the HAMP loan modification and HAFA foreclosure (short sale) programs and the federal government actually pays the lender money for successful assistance to homeowners under these programs. The truth is that participating in these programs requires unending patience, a lot of financial disclosure and paperwork, and can take months to complete.

Some lenders have actually taken a proactive approach to the challenging real estate market and have streamlined their short sale procedures to the point where approval can be obtained in as little as 10 days! More lenders are watching these pilot programs, with the goal of adopting similar procedures in the coming months.

Rather than moving out of their home while wading through the paperwork and procedures involved and taking on another housing expense in the form of rent and moving costs, financially distressed homeowners are far better to remain in their homes, even if they are unable to make their scheduled mortgage payments.

The real estate market has changed from the skyrocketing appreciation Arizona experienced in the 2002-2005 years, and it will probably never return to those crazy days. The only way for the market to stabilize is to stop foreclosures and the further value declines they create in our neighborhoods.

There are many Realtors who have been extensively trained in dealing with the banks and negotiating short sales, which is convincing the bank to accept a loan payoff which is “short” of the full balance owed. If you or someone you know is having difficulty making their payments or finds their loan balance is so much larger than their home’s current market value, interview Realtors to find someone who has been extensively trained and certified in this specialty, doesn’t charge a fee up front, and who has a track record of successfully closing short sales. Short sales have been called “the brain surgery of real estate” and while I would seek a family doctor for treatment of the flu, I would seek out a skilled brain surgeon with a successful track record if I needed that type of treatment.

If you or someone you know is in trouble with your mortgage or property value, please don’t abandon your home. It doesn’t help you, your lender or your neighbor’s home values.

Debt Relief from Arizona Short Sales May Not Be Taxable

Sat, 16 Jan 2010 16:25:20 GMT

Tax consequences on Arizona Short Sales

Chris Combs of Combs Law Group, PC had some very interesting comments in a piece published in the January 13th, 2010 edition of the Arizona Republic. A reader asked about the tax consequences on the debt forgiveness on three Arizona residences being sold as short sales. Two of the three properties were investment properties and the third was their primary residence and they wondered if they would have any taxes on the debt forgiven.

In Arizona, we have two issues to deal with in a short sale: deficiency judgments on the difference between the mortgage balance and a sales price lower than market value; and the tax consequences of the debt forgiveness on a property that is not your primary residence.

Mr. Combs, who is considered an expert in AZ real estate law explained that the seller of these three properties would "probably not" as "the amount of any debt forgiveness on a loan is generally taxable income, and the lender will send a Form 1099 to the Internal Revenue Service for the amount of the debt fofgiveness, debt forgiveness on loans used to purchase homes is generally not taxable income." (See complete article)

I kept reading, thinking Mr. Combs would go on to say that debt forgiveness on your AZ principal residence is not taxable income, as a result of the Debt Forgiveness Act of 2007. I expected him to say that the debt relief on the rental homes may be subject to taxes. He explains that the IRS has ruled that "there is no tax liability for debt foregiveness of non-recourse debt." He further explains that under Arizona law, "any loan used to purchase a home in generally non-recourse debt; that is, the homeonwer has no personal liability for the loan."

WOW! Most loans made to purchase Arizona residential real estate are non-recourse debt - on both personal residences and on homes purchased as investment property. This has huge implications for many investors who are forced to sell Arizona properties with short sales. I haven't seen anyone else address this issue of non-recourse debt being excluded from taxes on debt forgiveness. He also suggests that if your lender erroneously sends a Form 1009 indicating debt relief it can be corrected on your tax return. This is certainly an important point to remember and discuss with your tax preparer! I'm clipping and saving his column for future reference!

Expanded Homebuyer Tax Credit and Selling Your Arizona Home During the Holidays

Thu, 19 Nov 2009 16:22:13 GMT

Expanded Homebuyer Tax Credit and Selling Your Arizona Home During the Holidays

Thursday, November 19, 2009

by Yost Realty Group

While most people believe that listing your home during the holidays doesn't make sense, the new first time homebuyer tax credit and expanded homebuyer tax credit gives us even more reasons to list your home now, even during the holidays. Contrary to what most believe, selling during the holidays gives a seller several important advantages:

1.      There is less competition for buyers. Most sellers erroneously believe buyers don't buy during the holidays.
2.      Winter prospects are more serious buyers. Why look at homes during this time if you aren't serious about buying?
3.      Your home looks better during the holidays with all the fresh holiday decor.
4.      The Expanded Home Buyer Tax Credit, for First-Time Home Buyers and Existing Home Buyers (specified criteria applies as defined by law). If you plan to sell and take advantage of lower prices and interest rates, you must have an accepted purchase contract on the new property by the end of April and close escrow by the end of June 2010. This gives you just five months to sell your home and purchase a new one!
5.      You may receive more money for your home now because you have less competition with other properties.
6.      Throughout the holiday season, it's reasonable to restrict showings during your personal family events.
7.      Buyers have more time to look at homes during the holidays, especially during vacations.
8.      January is traditionally the biggest job transfer month and you must be on the market NOW in order for those homebuyers to find your home.
9.    By selling now you can have a delayed closing or extended occupancy until the beginning of 2010, if you want it.
10. When you sell during the winter you have an opportunity to buy during the spring, when more homes are traditionally on the market.
11. You may have fewer actual showings, but more qualified and motivated potential buyers.
12. Corporate transfers, who need to buy a home now, can't wait until spring.

The expanded and first time homebuyer program is available to those who meet ONE of the following three conditions: They are buying their first home, OR they haven't owned a home in the past three years, OR they have owned a home for 5 out of the past 8 years and are buying a new property they intend to live in as their primary residence. In this case, you do NOT need to sell your present home in order to buy a new one. If you or someone you know meets one of these three criteria, you may be able to receive an $8000 or a $6500 TAX CREDIT!

The tax credits are simply that...a CREDIT against taxes, not a tax deduction. Selling during the holidays ALWAYS makes sense. And now the new and expanded tax credit provides even MORE reasons to list your home at this time.

If you are thinking of selling a home in the Casa Grande Valley, from Maricopa, to Arizona City, to Coolidge or Robson Ranch in Eloy, we'd be happy to provide a free, no obligation consultation to discuss your options. For more info, visit our websites at www.CasaGrande-RealEstate.com or www.YostHomes.com or call us at 520-836-1717 or email us today!.

Some Lenders Streamline the Short Sale Approval Process!

Thu, 19 Nov 2009 15:09:37 GMT

Some Lenders Streamline the Short Sale Approval Process!

Its true! Short sales can be frustrating, difficult, require mounds of paper and followup, and take months for approval. However, we've seen a definate trend with lenders understanding the problem of reduced property values, and making strides to streamline the process. In fact, some lenders have begun pilot programs where the main requirement for approval is that your property value is less than the current mortgage balance(s).

We have recently become aware of a few lenders who will approve a short sale in just a few weeks, not require mountains of paper and will approve the short sale based only on the mortgage balance/market value difference. Lenders processes are changing all the time with an effort toward streamlining their systems, and that is great news for those of us in Western Pinal County in Arizona. Call or email us today to find out if YOUR lender is one of the forward thinking ones who are approving short sales faster and without the hardship or payment delinquency requirements.

Unfortunately, many short sales can take 2 to 4 months for approval and closing, which means it is even more important to get your home on the market now so that the potential buyer has enough to time close escrow before the expanded first time homebuyer and repeat homebuyer tax credit deadlines become an issue. There is a great misconception that listing your home during the holiday months of Nov and Dec is a waste of time. Nothing could be further from the truth, especially with the expanded home buyer tax credit!

The new laws require a signed purchase contract before the end of April 2010 with closing occurring before the end of June 1020. If you think that you may be a good candidate for a short sale, get your home on the market with a broker who is highly experienced with successful short sales as soon as possible! As CDPE's (Certified Distressed Property Experts) we understand the process needed to stop the foreclosure action by your lender. Wouldn't be nice to know your family could enjoy the holidays without worrying about a possible foreclosure?

If you own a home in Western Pinal County from Maricopa to Casa Grande, Arizona City to Coolidge, Robson Ranch in Eloy or anywhere in the Casa Grande Valley, we are here to help you. We can help you explore your options, avoid foreclosure and help you get a fresh start. Members of the Yost Realty Group at RE/MAX Casa Grande understand the frustration you are experiencing with your lender and are here to help.

The Truth About Mortgage Modifications

Mon, 02 Nov 2009 08:23:26 GMT

The Truth About Mortgage Modifications

The decisions you make as a homeowner today hold a profound impact on your financial future. However, it is important to safeguard yourself from misinformation and fraud. Get the facts regarding your situation and always have a contingency plan.

For those who qualify, a mortgage modification is the ideal remedy to their financial distress. I’ve prepared a FREE report on the truth about mortgage modifications to guide you through this important process. Simply provide your information below to get this valuable information, and feel free to pass it along to anyone who may need it. One homeowner lost to foreclosure is one too many!

As a Certified Distressed Property Expert, I have training and experience in providing solutions to homeowners facing financial hardship. Together, we can formulate a plan to get back on track.

If you have any unanswered questions, or your circumstances are urgent, please call me today.

Debbie Yost
520-836-1717

Options and Solutions

Thank you for visiting this site and taking the first step toward finding answers. I appreciate what it has taken for you to come here, and commend your efforts to get the facts about your situation. The current real estate environment can be frustrating, with misinformation and conflicting plans for how to proceed.

As a real estate broker, what I often see in troubled homeowners is a belief that they are alone with their challenges. Regrettably, over 70% of homeowners in foreclosure proceed without ANY visible assistance. This is not acceptable for the communities our team serves.

That's why we've developed this site: to ensure you get the valuable resources that can reduce your financial strain and change your life for the better. As a CDPE I know the options for homeowners in foreclosure or delinquent on their mortgages, and I can send you a report detailing this information, prepared just for you.

Simply enter your information below and click "I Am Ready to Learn My Options." I hope that you will review this information carefully, so that your next steps are the right steps toward a real solution.

Let us help you evaluate your options and get back on track to a solid, stable future.

Foreclosure Vs. Short Sale

As a Certified Distressed Property Expert, I have devoted my career to helping homeowners who face difficult situations, taking them from uncertainty to resolution. Lately I've found a lot of conflicting information going around, especially concerning short sales, which you should know about.

A short sale occurs when a lender accepts the selling price of a home, even if it is less than the full amount owed on the mortgage. For particular homeowners, this can be the best option to foreclosure. Yet, I still hear people suggest that short sales are basically the same as foreclosure.

This is absolutely wrong!

You need to have the CORRECT information. That’s why I'm glad you're here. To help, I’ve prepared a free report—just for you—that compares the realities of foreclosures and short sales side-by-side. Simply provide your information below, and I'll send you this report.

If you have any additional concerns about this issue, or your circumstances are urgent, please feel free to give me a call. I can help you evaluate your options and get you back on track to a secure financial future.

Debbie Yost 520-836-1717

7 Short Sale Myths

There are millions of homeowners just like you who are looking for answers and don’t know what to do. You’re not alone and you’re in the right place.

As a Certified Distressed Property Expert, I have training and experience in providing solutions to homeowners facing financial hardship. Despite my best efforts, there’s still an overwhelming amount of misinformation about the options available, especially short sales.

To give you a better idea of the short sale option, and to set straight some of the myths you may have heard, I’ve prepared a free report just for you - please fill out the information below to receive your free report. This report will clarify the following myths:

The Bank Would Rather Foreclose Than Bother With A Short Sale
You Must Be Behind On Your Mortgage To Negotiate A Short Sale
There Is Not Enough Time To Negotiate A Short Sale Before My Foreclosure
Listing My Home As A Short Sale Is An Embarrassment
Short Sales Are Impossible And Never Get Approved
Banks Are Waiting On A Bailout And Not Accepting Short Sales
Buyers Are Not Interested In Short Sale Properties

These ideas are potentially harmful to homeowners seeking real solutions. I hope you’ll review this information for yourself or share it with a homeowner in need.

In these times, we all need to know the truth to know how to get back on track.

If you have any additional concerns about this issue, or your circumstances are urgent, please give me a call.

Debbie Yost
520-836-1717

Short Sale & Deed-In-Lieu

Contrary to what you may have heard, lenders actually want to avoid foreclosure wherever possible. That’s why they’re accepting more short sale and deed-in-lieu transactions everyday in an effort to eliminate unnecessary foreclosures. This is great news for homeowners facing financial distress.

To help you understand more about these two options, I’ve prepared a free report just for you, called ‘Short Sale & Deed-in-Lieu: Dignified Solutions.’ To receive your free report, please provide your information in the fields below.

I hope you’ll review these options carefully and pass this information along to those who may need it. I commend your efforts to finding a solution to the difficult financial situation that you or someone you know is currently facing. Providing the best advice and information in your time of need is my priority.

Let me help you evaluate your options and get you back on track to a secure financial future.

Your First Steps To Avoid Foreclosure

Your First Steps

In today’s market, 1 in 7 homeowners is having trouble paying the mortgage. More than 70% of these homeowners proceed without seeking assistance or getting the facts. Many do not even realize that foreclosure is a process, and that there is time to make decisions that may result in a better outcome.

You are not alone. Millions of other homeowners nationwide are in the same circumstances. To assist you, I’ve prepared a free report outlining the first steps a homeowner should take when facing a foreclosure.

Fill out your information below for this free report. Don’t hesitate. Get back on track today!

Strategic Defaults are NOT Strategic

Walking Away Is NOT The Answer

You may have heard that a “strategic default” can be an appropriate and even beneficial reaction to an upside-down mortgage or impending foreclosure. While this idea is widespread, the truth is that default is never an easy road to choose, and rarely ever strategic.

Unfortunately, the ramifications of a “strategic default” are rarely explained, leaving many homeowners stranded on an island of misinformation. To assist you, I’ve prepared a free report outlining the myths and misrepresentations of strategic defaults.

Fill out your information below for this free report. Don’t hesitate. Get the facts today!

Avoiding Mortgage Modification Fraud

I Am An Agent Against Mortgage Fraud!

The last thing struggling homeowners need is to be victimized by fraud. Sadly, some people are preying on those who need help the most. Today, the real estate industry is the newest, biggest target for predatory schemes. In fact, the U.S. Attorney General, Eric Holder, stated that mortgage fraud cases are 400 percent higher than they were five years ago.

With nearly 1 in 6 homeowners unable to pay their mortgages, understand that you are not alone. Knowing your legitimate foreclosure-avoidance options is the best way to fight this terrible trend.

The report on this site will tell you how to avoid mortgage fraud schemes, as well as what solutions are available to you. Enter your information below and get the facts now!

Understanding HAFA

New Help Has Arrived!

The rising number of foreclosures in this country is simply too big to ignore. That is why a government-backed program has been released that aims at streamlining foreclosure avoidance options.

Short sales and deeds-in-lieu are dignified solutions to foreclosure, and now the government is making them easier, quicker and more accessible through the Home Affordable Foreclosure Alternatives Program, or HAFA.

With one in six homeowners struggling to make mortgage payments, you are not alone, and there are options available. With the free report provided here, find out if you qualify for the HAFA Program. Simply fill out your information below to get started on your new chapter of financial stability.

Please read this report to learn the facts, and contact me to begin your journey to a solid, stable tomorrow.

Government Program Surveys

Are You Eligible?

The government programs currently available to homeowners can be valuable resources, but only if you know which ones are right for your situation.

That’s why I’ve created this free resource that lets you find out which programs you’re eligible for. Read the descriptions for each program to see which one fits your situation, then fill out the corresponding survey to see if you are eligible.

Find out now if you are eligible!

The good news is that programs exist for a variety of situations, and even more options are available beyond those programs. As a CDPE-designated agent, I can provide all of your possibilities and help you get moving toward a solution.

Cash for Short Sales

Short Sales are More Valuable Than Ever!

Avoiding foreclosure is always a smart move, but now there are incentives that make it an even better one.

Short sales and deeds-in-lieu are dignified solutions to foreclosure, and now the government is making them easier and quicker through the Home Affordable Foreclosure Alternatives Program, or HAFA, which also gives the homeowner $3,000 for participating.

With the free report provided here, you can learn all the benefits of completing a HAFA short sale. Simply fill out your information below for details on the program and how you would benefit.

Please read this report to learn the facts, and contact me to start exploring solutions.

A Dignified Solution

You Deserve a Dignified Solution

The economy today has been especially hard on homeowners. I meet people every day who thought they made a responsible decision on their mortgage loan, only to be hit with the unexpected.

The first and best move to make in this position is to educate yourself on what your options are based on your financial situation. Avoiding foreclosure is always something worth pursuing if you can, and there really are dignified alternatives available.

To get my free report on all the options and benefits of avoiding foreclosure, fill out the form below and click "Send". If you need immediate assistance, please contact me right away.

I'm here to help.

Credit Score Issues

Don't Let Your Credit Score Drop Unnecessarily

Avoiding foreclosure now could make or break your attempts to get a loan in the near future and determine whether you can get affordable interest rates.

That's why I've made this site available for anyone in our community struggling with mortgage payments. Foreclosure alternatives like short sales and deeds-in-lieu allow homeowners to avoid many of the damaging effects of foreclosure. In addition, short sales may have less of an impact on credit scores than foreclosure.

To get all the information on how these options affect your credit score, fill out the form below and click "Send". If you need immediate assistance, contact me right away.

I'm here to assist you.

Hidden Costs of Bankruptcy

Considering filing for bankruptcy? There may be alternatives you've never considered …

If you are having trouble paying your mortgage and are possibly considering bankruptcy, there may be better solutions for your particular circumstances. I've created the free report available on this page, "The Hidden Costs of Bankruptcy," to provide more information.

Alternatives to foreclosure, such as conducting a short sale and moving into a rental residence with less expensive payments, may offer the breathing room you need to reorganize your finances.

To get your free report, fill out the form below and click send. However, if your situation is urgent and you need immediate assistance, please don't hesitate to contact me.

I'm here to assist you.

Short Sale vs. Foreclosure

Foreclosure or Short Sale: Understand the Differences

Underwater on your mortgage? Facing foreclosure? Avoiding foreclosure through a short sale can have many benefits for your future financial stability.

I created this site to help spread the word about the options to avoiding foreclosure, and a short sale has many benefits. A successful short sale can reduce the damage to one's future loan eligibility, credit rating, employment, security clearance and more.

For a free report on the differences between short sales and foreclosure, fill out the form below and click "Send". If your situation is urgent, feel free to contact me immediately. I'm ready to help you take action and secure a more secure financial future.

As a CDPE-designated agent, I've been trained to pursue foreclosure alternatives, and I'm here to help.