Austin Texas – If you are still trying to convince yourself to try a Bank Short Sale versus letting your home go to Foreclosure, you might find the following useful.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Example 1: Short Sale

Mr. Jones owns a home in which he has a mortgage balance of $200,000 and a current market value of $150,000. Mr. Jones has elected to short sell his property. His agent successfully obtains a buyer who puts forth an offer price of $135,000 (90% of the current market value). After reviewing the buyers offer and the financial hardship information from Mr. Jones, his bank agrees to accept the short payoff of $135,000 which would leave a deficiency balance of $65,000 plus closing costs (his bank pays all the closing costs, including agent commissions and taxes for him in a short sale). The transaction closes and is final. Mr. Jones then pulls his credit report 60 days after the transaction takes place. On the credit report he sees that the mortgage trade line states “Mortgage debt was settled for less than full” and the balance on the mortgage is $0. Mr. Jones is now on the road to financial recovery.

Example 2: Foreclosure

For the ease of illustration we will use the same value and mortgage debt amounts as in Example A. However, Mr. Jones has elected to forgo the short sale process and let the bank foreclose on his property. The bank holding his mortgage facilitates the proper legal procedures to foreclose on the property, all of which are costly. Mr. Jones is notified and his property foreclosed on and taken back by the bank to sell as an REO. Six months later, the bank finally sells Mr. Jones home only they sell it for $120,000 (80% of current market value). Remember, as a short sale, the home would have sold for $135,000 keeping the deficiency to $65,000. In addition to the deficiency now being $80,000, the bank has elected to add on legal costs of $15,000, closing costs of $10,000, and asset preservation costs of another $5,000 for a total deficiency liability of $110,000. Mr. Jones pulls his credit report 60 days after being notified that the bank has sold his property and of his liability. On the report he sees that the mortgage trade line states “Foreclosure” and the balance is $110,000. Because of Mr Jones choice to choose Foreclosure vs. Short Sale, his road to financial recovery has taken a major detour. He not only has a foreclosure on his credit report now, he also has a $110,000 deficiency balance on his credit report now too, and his bank will also likely seek a deficiency judgement against him within 2 years of the foreclosure for this $110,000 deficiency. This deficiency judgement may renewed every 2 years by the bank for a total of 5 times in Texas (so this is now a 10+ year problem for Mr Jones). This $110,000 deficiency judgement will follow and haunt Mr. Jones wherever he goes now (for about 10+ years). Mr. Jones will also likely have to retain an expensive attorney at some point to help defend himself against this $110,000 deficiency judgement.

The Best Option is Clear

While the financial, legal, and credit advantages are clear when choosing a Short Sale over a Foreclosure, other advantages are sometimes overlooked. The most important of all of them is maintaining the seller’s dignity and peace of mind. We have heard too many stories of families having to leave their homes because of a Sheriff’s or Constable’s orders or some other type of legal action the bank has taken. The short sale process alleviates this negative social impact. The process puts the control back in the seller’s hands so that they can get back on the road to financial recovery. In the battle of the two evils, the Short Sale is always the winner.

Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE

George is a Real Estate Agent and Broker Assiciate at Keller Williams Realty. Austin Short Sales Realtor:
Phone: (512) 970-0709. GeorgeKiefer@gmail.com.
Assisting Homeowners in Distress
View My homes for sale at www.GeorgeKieferAustin.com.
George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor Austin Texas Short Sales. Austin Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice
George Kiefer, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are George’s personal views and do not reflect the views of Keller Williams Realty.
This information on Austin Short Sales: is provided as a courtesy to our viewers to help them make informed decisions.

Austin Texas – What can you do if you are facing a foreclosure? One of the scariest and worse case scenarios for a homeowner is getting behind in your payments and now foreclosure is leering around the corner. You feel as though you have let everyone, yourself included, down. You feel embarrassed, even if you haven’t received the foreclosure notice with your auction date yet. So now what?

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here are a few tips to help you out:

1.) First off if you’ve been getting letters “threatening “ foreclosure you need to step up and take action NOW. Ignoring these letters until you actually get a “foreclosure auction date” scheduled could end up being your biggest mistake.

2.) It’s time to sit down and figure out how far behind you are and if it is truly realistic to catch up your payments. Be honest with yourself about your situation and figure out a realistic budget and determine if catching up on your mortgage payments is even possible given your current level of household income, assets, and expenses.

3.) Keep in mind that, in all honesty, the last thing your lender probably wants is to own your home. They are in the “money” business, not the “home owning” business. If your bank is forced to take your home, they’re also faced with everything a “homeowner” is faced with; such as all of the maintenance, upkeep, heating bills, air conditioning bills, utility bills, HOA bills, real estate taxes, insurance, lawn service, and more. This comes down to one thing, they really don’t want to take your home and would probably much rather work with you to make “other” realistic arrangements that don’t involve foreclosing on you.

4.) Do not avoid your lender or the law firm handling your foreclosure. Call them and see what your current options are and start to see what can be done to stop, delay, or push-back your foreclosure date (if a foreclosure auction date has been scheduled). Once the actual foreclosure process begins it can be hard to stop; so you want to make sure you contact them immediately if you have missed any payments. If you reach a person that you simply cannot deal with and takes the approach of scare tactics and put downs, then immediately request to speak to their supervisor or simply hang up and call back and talk with another representative that is professional. You deserve to be treated with respect throughout the entire process and should demand such. The first question you should ask each and every time time you call is “Do I have an auction date yet? And if yes, what is my auction date?” The second question you should ask is “What are my options?” Don’t be surprised if you get “different” options each time you talk with a different representative or supervisor (this is common). Take notes every time you call and always get the name, direct number, and email address, of each person you talk with and what solutions and alternatives to foreclosure they are offering you. Each solution they offer you will have it’s own set of unique pros and cons you will need to consider. However, one “pro” each alternative they offer will all have in common is that they will all be better than being foreclosed on .

Once you start talking to the lender or foreclosure law firm representative, you may find they have many options to help you (like the following): 1. Short Sale 2. Reinstatement 3. Forbearance 4. Mortgage Modification 5. Rent the Property 6. Deed-in-Lieu of Foreclosure 7. Bankruptcy 8. Refinance 9. Service Members Civil Relief Act 10. Sell the Property. You are not the first person they’ve had who was in this position of facing possible foreclosure and you won’t be the last. Bottom line, there are many alternatives to being foreclosed on. Your immediate job is to find which alternative to foreclosure works best for you (so you can avoid the foreclosure). However if you have already missed a payment(s) you have a very limited amount of time to act.

Thinking about a bank short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE.

George is a Real Estate Agent and Broker Assosciate at Keller Williams Realty. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor Austin Texas Short Sales. Austin Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

George Kiefer, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are George’s personal views and do not reflect the views of Keller Williams Realty.

This information on Austin Short Sales: Are you facing Foreclosure? is provided as a courtesy to our viewers to help them make informed decisions.

Austin Texas – Some lenders have been offering huge cash incentives to homeowners at risk of foreclosure to “Short Sale” their home (versus being foreclosed on). For example, Chase has been very quietly offering as much as $35,000 cash at closing to homeowners to short sell.

These homeowners are “upside down” on their loans — meaning, in general, they owe more than the home is currently worth. With a “short sale” (also called a “short pay”), the lender is willing to accept less than the full amount due from the borrower.
These cash incentive programs were started by lenders after they saw the U.S. Treasury start a cash incentive program in 2009, also known as HAFA (Home Affordable Foreclosure Alternatives). The HAFA program provides approximately $3,000 to the borrower upon the successful completion of a short sale. In general, to qualify for the $3,000 HAFA cash, your loan needs to be owned by Fannie Mae or Freddie Mac (and over 80% of the loans in the U.S. are currently owned by Fannie or Freddie).

The lender cash incentives began last year and are available nationally (ie in all areas of the U.S.). Why would a lender want to pay such large cash incentives to a homeowner who hasn’t been making their mortgage payments? The short answer is that short sales generally wrap up the transaction for the lender much more quickly than the lender foreclosing on the borrower, and it also leaves the home in better shape for resale so the lender normally gets more money for the house with a short sale (since the homeowner continues to live in the house until the short sale is complete). A short sale generally produces a better and faster result for the homeowner, the lender, and the community, than a foreclosure. Chase has completed more than 140,000 shorts sales since the start of 2009. And these cash incentive programs seem to be expanding and increasing system wide. Wells Fargo is now offering cash incentives for short sales and “deed in lieu of foreclosure” transactions in many markets. Citi recently confirmed through the media that its average incentive offer is currently $12,000 for borrowers in cases where Citi owns the loan. Bank of America is not offering any cash yet, but says it is committed to improving the short sale process and has made procedural changes to cut some of the red tape for agents working with the bank on pre-foreclosure sales.

These lender cash incentive payments normally only apply to first-lien loans that the lender holds for its own portfolio (rather than loans it merely services for others like Fannie Mae and Freddie Mac). However the Fannie and Freddie owned loans would likely qualify for the $3,000 HAFA cash incentive mentioned above. The lender cash incentive amount varies, based on many factors like the loan balance and appraised value of the home. If you have an FHA loan (or another government guaranteed loan like USDA or VA), you could qualify for up to a $2,000 cash incentive if you successfully short sale your home versus allowing your home to go to foreclosure.

The cash incentives being paid by Lenders, the U.S. Treasury (HAFA), and FHA (HUD) to Short Sale your home (versus be foreclosed on), can be used by the borrower to cover expenses, like moving and relocation costs (or to just get back on your feet). In brief, the “Short Sale” allows the homeowner to avoid foreclosure, minimize their financial damage, and move on from a burdensome, unaffordable mortgage, and most of time owe nothing to the lender after the short sale is completed. And in many cases, a short sale allows the borrower to qualify for a new mortgage in just 24 months as opposed to 5 to 10 years after a foreclosure.

It doesn’t appear likely that the need for short sales will end anytime soon. Most economists and experts are forecasting another price drop in the U.S. of about 3 percent 2012.

Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE.
George is a Real Estate Agent and Broker Associate at Keller Williams Realty in Austin, Texas. Austin Short Sales Realtor:
Phone: (512) 970-0709. GeorgeKiefer@gmail.com.
Assisting Homeowners in Distress

View My homes for sale at www.GeorgeKieferAustin.com.
George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor Austin Texas Short Sales. Austin Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.
Important Notice
George Kiefer, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are George’s personal views and do not reflect the views of Keller Williams Realty.
This information on Austin Short Sale Question About Deficiencies is provided as a courtesy to our viewers to help them make informed decisions.

Austin Texas – The Stop Foreclosure Institute recently received a question from Jon. Here was his question:

“I experienced a financial hardship about two years ago and sold my house via a short sale. I am now back on my feet and want to purchase a home again. I have been paying my rent on time and my credit scores have quickly gone back to around 700 again. What programs or other options do I have in terms of buying another home now and getting a mortgage loan? I want to purchase a house for about $150,000 in North Austin. I would like to use an FHA loan if possible, since the down-payment is only 3.5%.”

Jon, we are happy to hear you are back on your feet, and that you’ve been able to get your credit scores and finances back in shape so fast. Based on what you have told me, you have three possible options currently:

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
1. Wait one more year to get an FHA loan. Your are only about 1 year away from the expiration of the 3 year FHA waiting period (post doing your short sale). Unless you have an urgent reason to buy now or have a lot of cash sitting around (see item 2 below), my advice is to wait the additional year out. In the meantime, make sure to pay ALL your bills on time and work with your mortgage officer to make sure all your other financial ducks are in a row so there are no surprises when your 3 year FHA waiting period is finally up.

2. Go get a Non-FHA loan. FHA is popular among buyers who only have enough cash to make the FHA minimum 3.5 percent down payment — but it’s not the only game in town. The vast majority of conventional loans (ie Non-FHA) available from mainstream lenders are insured by either Fannie Mae or Freddie Mac. Both of these U.S. government controlled agencies impose a shorter, two-year, post-short-sale waiting period (as long as the borrower is coming to the table with a 20 percent cash down payment). And if you wait an additional 2 years (ie a total of 4 years post short sale), the minimum down payment requirement comes down to 10 percent for Fannie and Freddie insured loans, but by then you would already qualify for the 3.5 percent down FHA mortgage as well.

3. Plead “extenuating circumstances” to FHA. FHA guidelines do make an exception for the 3 year, post-short-sale, waiting period for former homeowners who did a short sale. If you can document you were forced to do the short sale by “extenuating circumstances” you might be able to cut that 3 year wait short. The most common scenarios that fit the bill are a 1) job transfer to another area (not job loss) or 2) a natural disaster that affected the property (like fire, flood, etc.). Beyond that, whether a “hardship,” rises to the level of an “extenuating circumstance” for purposes of qualifying for an FHA loan before the 3 year waiting period is up, is up to the discretion of the underwriter and lender you are using to do your FHA loan. However things like a 1) job loss, 2) an interest rate adjustment on an ARM loan you had, or 3) the decline of the home’s market value, DO NOT count. If you had, say, an accident or illness that resulted in a temporary disability, it might be worth the effort to plead your case for that set of facts if you can document it fairly well. Speak with your mortgage professional about whether you can make a credible argument in favor of shortening your 3 year FHA waiting period based on this “extenuating circumstance” angle.

Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE.

George is a Real Estate Agent and Broker Associate at Keller Williams Realty in Austin, Texas. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor Austin Texas Short Sales. Austin Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

George Kiefer, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are George’s personal views and do not reflect the views of Keller Williams Realty.

This information on Austin Short Sale Question About Deficiencies is provided as a courtesy to our viewers to help them make informed decisions.

Austin Texas – The Stop Foreclosure Institute recently received a question from Marlene. Here was her question.

“I am trying to buy a short sale. It has been 4 months and we have heard nothing except that we are now on our 2nd negotiator, still with no contact from them.

I am getting very frustrated. Is there anything I can do on my end to try to push the process along? Marlene.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to her question. It is up to the short sale listing agent to do the pushing for you. When you say they are on the second negotiator, this is unfortunately a common issue do to the current volume servicers are having to deal with regarding short sales. Another issue; some of the trustees (they grant the final approval for actual lienholders like Fannie Mae and Freddie Mac) have as many as 3,500 files each. So the bottlenecks are occurring not only at the negotiator level (with the servicer) but also higher up the ladder at the trustee level where final approval comes from. Remember that the bank you dealing with is likely only a servicer (ie they do not own the mortgage paper); so they are just getting the short sale file to a point that the negotiator/servicer can ask the trustee for approval for the short sale. If the short sale listing agent does not have much experience with short sales, this could also be part of the problem.

If you think that the process is going to too slow or is bogged down, I would recommend putting in an offer on another house. Even if you do stay on board, you should always be on the lookout for another home as many short sales fail to close for various reasons (or will take too long to close or various reasons). You should only use a buyer agent that thoroughly understands the short sale process and instruct your buyer agent to only submit offers on short sales whereby the listing agent is experienced with short sales and knows where the file is at and how the process works. Don’t waste your time with listings agents (or buyer agents) that are at the beginner or novice level regarding short sales.

Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE.

George is a Real Estate Agent and Broker Associate at Keller Williams Realty. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor Austin Texas Short Sales. Austin Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

George Kiefer, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are George’s personal views and do not reflect the views of Keller Williams Realty.

This information on Austin Short Sale Question: Can I Push The Short Sale Process To Make It Go Faster? is provided as a courtesy to our viewers to help them make informed decisions.

Austin Texas – Here is a problem: Some buyers don’t like short sales because of the uncertainty and the waiting. How do we help minimize this problem?

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

During the short sale process, if the BPO (Broker Price Opinion) gets completed and the bank/servicer won’t accept the buyer’s short offer after reviewing the BPO numbers, then request the bank still keep the file open.

There are several reasons that banks may be willing to keep the file open.

Reason #1: Their “investor” (ie the owner of the mortgage paper a.k.a. the lienholders) has already spent $65 to $100 on a BPO (some banks/servicers order more than one BPO).

Reason #2: A bank or servicer’s job is reducing the losses as much as possible for the lienholders they represent. Keeping the file open will make the property more marketable, which will cause it to sell for a higher price (making their investor happy).

Reason #3: It will help the bank/servicer reduce their costs too. It will take less time for the bank to negotiate and approve future files/offers, versus if the file had to be completely re-opened, a new BPO ordered, a new negotiator assigned, and the seller financials reviewed all over again.

In fact, congress is even thinking about making a law that Fannie Mae and Freddie Mac (the two largest owners or mortgage paper in the U.S.) keep short sale files open until they either sell or foreclose on the property. Until then, we have to petition for each individual file to stay open if and when a short offer is rejected by the bank/servicer or the lienholders (a.k.a. the “investor”). Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE.

George is a Real Estate Agent at Keller Williams Realty. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor Austin Texas Short Sales. Austin Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

George Kiefer, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are George’s personal views and do not reflect the views of Keller Williams Realty.

This information on How I Make The Austin Short Sale Process Faster and Easier is provided as a courtesy to our viewers to help them make informed decisions.

Austin Texas – The Stop Foreclosure Institute recently received a question from Jack. Here is Jack’s question.

“How is the short sale process different for a homeowner versus a rental property? Is the owner of a rental property more likely to have a deficiency judgment and/or be taxed on the deficiency than a someone short selling their own home? Jack.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to Jack’s question. Yes, short selling a rental property is a little different than owner-occupied property.

(The scenarios below are for a property you bought as a rental, not a property you bought to live in and then started to rent out.)

1. Deficiency. In most cases, you will not be dealing with lenders who will just allow you to walk away easy from the debt and loss on the rental house. The rental house lender may ask for a promissory note or deficiency for part of the loss involved. It is possible you can short sell without a deficiency, but it won’t be walk-in-the-park easy to do it. However it is certainly worth trying and it will likely end up being a much better deal than you think in the end.

2. Income taxes. Uncle Sam won’t give you the same easy cancellation of debt income waiver that a normal homeowner gets; however if you are insolvent (ie your debts exceed your assets); per IRS publication 544, you will likely not end up owing any federal income tax on the debt forgiven from the short sale. If you are solvent (ie your assets exceed your liabilities), then you could end up owing federal income tax on some of the debt forgiven. Check with your accountant on methods that can help you wipe out even this debt.

Bottom line: There are many financial, credit, legal, and tax advantages to Short Selling your rental property versus letting the Bank Foreclose on your rental property.
Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE.

George is a Broker Associate and Real Estate Agent with Keller Williams Realty. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor Austin Texas Short Sales. Austin Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

George Kiefer, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are George’s personal views and do not reflect the views of Keller Williams Realty.

This information about Austin Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

Austin Texas – The Stop Foreclosure Institute recently received a question from Ted. Here was his question.

“I am thinking about short selling my house. I’m just wondering how I can get someone to help me. I know that your website says that a short sale costs me nothing.

I just have a hard time understanding why my lender would pay all the agent commissions if they are already losing money. Please explain that. Ted.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to Ted’s question. Agents get paid because the bank benefits financially from a short sale versus a foreclosure. Yes, they are losing money with a short sale. However, they are happy to pay agent commissions because we are helping them reduce their losses significantly versus if they had to foreclose on your home instead.

This is because the they get to sell the house at today’s price, versus what the house will be worth 6 to 12 months down the road after they foreclosure plus they get to avoid all the additional expenses associated with foreclosure too.

I did a quick comparison and pulled up a sampling of sold homes in our area. All of the homes were very similar. First, I looked up the average selling price per square foot of the sample homes that sold 6 to 12 months ago. The sample sold for an average of $103 a square foot.
Then, I pulled up houses in the exact same sample neighborhoods that sold after the bank had foreclosed on them. Those sales were in the last 2 months. The foreclosures sold for an average of $85 a square foot.

The sample homes averaged about 2,000 square feet. That means a 2,000 square foot bank foreclosure sold for $36,000 less on average versus the non-foreclosure sample. Ouch! As you can see, a Short Sale REALTOR brings tremendous amount of value to the bank financials. And by the way that $36,000 savings per house did not include the additional bank savings of avoiding expenses associated with foreclosing and the additional back real estate taxes and HOA fees the bank would have to pay if they took the longer road of foreclosing. If you added those savings in as well; my guess is that the actual savings would be around $50,000 per house in my sample. That is huge. And that is why banks are very happy to pay all the agents commissions involved in the short sale (and for that matter, they are happy to pay all your other seller closing costs as well).

You also benefit directly. Your credit damage is greatly reduced in a short sale versus a foreclosure. You also, have a lower chance of being chased down for the bank’s losses via a deficiency judgement. A short sale is a WIN – WIN for everyone involved. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE.

George is a Real Estate Agent at Keller Williams Realty. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor Austin Texas Short Sales. Austin Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

George Kiefer, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are George’s personal views and do not reflect the views of Keller Williams Realty.

This information on Why Is My Bank Willing To Pay You To Short Sale My Austin Home? is provided as a courtesy to our viewers to help them make informed decisions.

Austin Texas – The Stop Foreclosure Institute recently received a question from Dave. Here was his question.

“I would like to short sale my house. However, my bank has already started the foreclosure process. Can I still do a short sale? Or, is it to late?”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is the answer to his Question. Dave, YES you can still short sale your house. It does depend on how far along you are in the foreclosure process.

You have to remember that the foreclosure process can take a long time. We commonly see foreclosure cases drag out as long as 1 to 2 years (and some even longer).

In one rare case Patsi Campbell, a homeowner in Florida, had a foreclosure drag out for 25 years. However, that is a fluke.

The Wall Street Journal gives us a better perspective:

“Ms. Campbell’s foreclosure case has outlasted two marriages, three recessions and four presidents. She has seen seven great-grandchildren born, plum real-estate markets come and go and the ownership of her mortgage change six times.”

The good news is that you can short sale your house, even if the foreclosure process has already been started. An experienced short sale agent can tell you for certain if you have enough time or not.

You may have more time than you think. The average foreclosure timeline in the U.S. has doubled and tripled. The foreclosure system is overloaded and can’t handle the avalanche of files coming their way currently. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE.

George is a Real Estate Agent at Keller Williams Realty. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor Austin Texas Short Sales. Austin Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

George Kiefer, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are George’s personal views and do not reflect the views of Keller Williams Realty.

This information on this Blog is provided solely as a courtesy to our viewers to help them make informed decisions.

Austin Texas – You may wonder why in a bank short sale contract it says the seller pays for certain closing costs and yet your lender covers all the traditional seller closing costs like title policy and agent commissions. Here is how it works.

The short sale purchase contract may have certain clauses that say: “Seller to pay title policy, recording fees, and agent commissions.” So how does your lender end up paying all those costs if the contract says the seller is paying it?

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

In traditional real estate (non short sale), certain costs are normally paid by the seller and other costs by the buyer. For example, the seller doesn’t normally pay for the buyer’s home inspector.

In non short short sale cases, the seller is actually paying for certain closing costs. Sales contracts have always been written like that. However, in a short sale transaction, those closing costs only appear to be paid by the seller on the closing statement. Actually, the seller is not paying them. Instead, they are being subtracted from the sales price and the short sale lender gets what remains after the costs are subtracted out. For example.

Sales price: $100,000.

Closing costs traditionally paid by the seller: $10,000.

Net to the short sale lender: $90,000.

So the short sale lender is actually paying these seller closing costs (not the seller) by simply accepting the lower amount. That is why it is called a “Short Sale.” Because the seller is coming to the closing table “Short” and the Lender is accepting this scenario.

The lender is getting paid less than what they are owed. They would have to pay all of those closing costs anyway, if they foreclosed on the house and then re-sold it after the foreclosure.

So, they might as well pay those costs now with the short sale. That is your lenders logic; and that is why your lender is willing to accept less than owed and forgive the difference. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE.

George is a Real Estate Agent at Keller Williams Realty. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor Austin Texas Short Sales. Austin Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

George Kiefer, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are George’s personal views and do not reflect the views of Keller Williams Realty.

This information on Who Pays The Costs In A Austin Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Austin Texas – I recently saw an article written by a prominent, so called short sale expert. In the article, this supposed expert says the only rules for short sales are HAFA (U.S Treasury), but even those rules are subject to interpretation.

That is like saying that there are no traffic laws. If that were the case, then everyone could drive 100 MPH and never get a ticket.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

The good news for short sale sellers is that there are rules. There are lots of rules in fact. These rules protect you from renegade, rogue employees at short sale lenders. They also protect you from your lender.

Here is a small sampling of the rules and guidelines for short sales.

FHA Short Sales. There is a 16 page directive from HUD to lenders. This directive gives explicit instructions to all lenders on how to handle short sales on FHA loans.

You can read thru the rules for an FHA Short Sale yourself. Just Google “Mortgagee Letter 2008-43.”

VA Short Sales. VA gives explicit instructions (again in their short sale guidelines. Only, they don’t call it a short sale. They call it a VA Compromise Sale.

Call a VA Loan Center to get a copy of the Compromise Sale Guidelines. Between 65-70% of all the loans in the US are owned or insured by one of the following entities: FHA, VA, Fannie Mae, or Freddie Mac.

Those entities either own or insure against loss. That also means those entities have the right to dictate what can and cannot be done on a short sale.

The lender handling the negotiations has to follow their rules and guidelines or face stiff penalties. Fannie Mae and Freddie Mac do not publish their guidelines and rules to the general public. But, we do know they have them.

The bottom line is that all short sale transactions do have rules. However, some lenders just don’t want you to know that. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE.

George is a Real Estate Agent at Keller Williams Realty. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor Austin Texas Short Sales. Austin Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

George Kiefer, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are George’s personal views and do not reflect the views of Keller Williams Realty.

This information on Austin Short Sale Myth: There Are No Rules Or Guidelines For Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

Austin Texas – Are you looking for a real estate agent or REALTOR that specializes in Short Sales and Foreclosure. It is important that you pick the right agent. Many agents turn down short sale listings or avoid them because they are unfamiliar with the process. Short Sale transactions are much more difficult and complicated than your average real estate transaction.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Because of how the foreclosure process works, you usually only have ONE chance at a short sale. If your first agent isn’t competent, then you risk losing your house to foreclosure. Then you have to wait another 7 to 10 years to buy your next house because you were foreclosed on. First, ask the agent you are interviewing why they qualify to help you. Do they have any special short sale training or designations like the CDPE (Certified Distress Property Expert)? Some agents have taken specialized short sale and foreclosure training and education. They care about being up to date with the current trends in the market.

Next ask them how much experience they have selling short sales. An agent who has closed a few short sales is a lot better prepared than an agent that has not closed any. You want someone experienced working for you.

Who is your lender? Ask the agent if they have closed any short sales with your lender. Every lender handles short sales a little bit differently. If your lender is ABC Lender and the agent has experience with ABC Lender, then they already know the process. Your agent will be prepared because they are familiar with that lenders’ process. If you have an FHA loan, ask the agent if they have FHA short sale experience.

After that, ask the agent how they negotiate their short sales? The agent may do everything themselves; or, they may have an expert in-house short sale processor/assistant that helps them (even better). Either way is fine. Just make sure the person handling your file is suited for the job. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE.

George is a Real Estate Agent at Keller Williams Realty. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor Austin Texas Short Sales. Austin Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

George Kiefer, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are George’s personal views and do not reflect the views of Keller Williams Realty.

This information on How do I find a Austin Realtor that specializes in short sales? is provided as a courtesy to our viewers to help them make informed decisions.

Austin Texas – A lot of homeowners want to short sale and walk away from the upside down debt. They don’t feel that it is their fault the housing market crashed.

We get the following questions a lot.

“If I short sale, then how likely is it that my lender will sue me to repay them?”

“Will my lender garnish my wages or take money out of my bank account?” So I will answer those questions in today’s post.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

The answer is that it is unlikely that any of that will happen.

Here is the #1 reason this usually doesn’t happen. About 65-70% of all short sale lenders will allow you to walk away owing nothing. The remaining lenders are usually too busy or disorganized to do anything.

Lawsuits cost money and they usually don’t get enough money back to justify the expense.

Here is the #2 reason this usually doesn’t happen. You can’t squeeze money out of someone who doesn’t have any money. The lenders know (from past experience) that if they push a debtor to hard, then that person will just declare bankruptcy.

So the lender gets no money anyways, but they lost money on the lawsuit and collection tactics. (Bankers don’t like to lose money.)

In addition, wage garnishment is difficult. There are many different exceptions and protections against wage garnishment.

For example, if the person being garnished is the main provider for a family, then the laws are often written to stop any garnishment against them.

This is why over 80% of all judgments expire uncollected. Even though the legal system gives lenders lots of collection rights most judgments still expire unpaid.

I know these stats may not be very comforting. If you are still concerned, then contact a good bankruptcy attorney. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer.

George is a Real Estate Agent at Keller Williams Realty. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor Austin Texas Short Sales. Austin Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

George Kiefer, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are George’s personal views and do not reflect the views of Keller Williams Realty.

This information on Austin Short Sale Question: Can My Lender Force Me To Repay Them? is provided as a courtesy to our viewers to help them make informed decisions.

Austin Texas – The short sale process can vary, but it will generally work as follows:

1) The lender is contacted by the seller and/or short sale agent to discuss the possibility of a short sale and to determine the lender’s process for completing a short sale.

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

2) The seller signs a form letter authorizing the release of information about the loan(s), liens, and property to the assisting title company and real estate agent.

3) The lender reviews an estimated settlement statement, which will indicate the proposed selling price, remaining loan balances and detail of expenses, including real estate commissions and other fees and expenses associated with the closing.

4) The seller completes a “hardship letter,” which explains the financial difficulties. Lenders will usually want to validate the seller’s financial situation by looking at the seller’s bank statements, investment accounts, tax returns, financial statements, along with examining pay stubs and other financial records like IRA’s and 401K’s. The seller is normally required to provide copies of these records to the lender.

5) The lender will then hire their own real estate agent to provide a price opinion and have that agent examine the condition of the house and conduct a market analysis of the home and provide recent sold comparables to the lender as proof of current value.

6) The lender will then scrutinize the purchase agreement to determine if all amounts and terms in the contract of sale are reasonable and appropriate. The lender will then negotiate with the buyer if necessary (or accept the purchase agreement if reasonable).

Once your lender(s) approve, the deal is ready to be closed. The lender will normally pay all the expenses associated with the short sale including all the real estate commissions, back property taxes, and all the other closing costs involved in the transaction as well.

Before taking a leap into this process; make sure you hire an agent who has experience with short sales.

Thinking about a short sale?
I can help you short sale your property and never pay the bank another penny. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE.

George is a Real Estate Agent at Keller Williams Realty. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification, foreclosure, and short sales in Austin Texas. Austin Loan Modification Help. Austin Short Sales. Austin Short Sale Realtor. Austin Texas Short Sales. Austin Foreclosure Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

George Kiefer, Keller Williams Realty, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender.

Most lenders willingly work with agents on short sales. Why? Because most short sales are beneficial to a lender (versus foreclosing on you).
If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, you could lose your home and/or damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision to stop making your mortgage payment(s).

This is not intended as legal, technical, or tax advice. Please speak with a licensed attorney before making any decision(s). Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go through with the short sale, you do not have to pay us any fees. We normally make a real estate sales commission for helping you on a short sale and this commission is paid by your lender(s) and/or lienholder(s).

The views expressed here are George Kiefer, GRI, CDPE personal views and do not reflect the views of Keller Williams Realty.

This information on Austin Short Sales: The Short Sale Process from beginning to end is provided as a courtesy to our viewers to help them make informed decisions.

Austin Texas – If you are looking to short sale your home, then I have some good news for you. Thanks to a new government program, HAFA, you can get paid to participate in a short sale.

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

If your home loan involved in the Short Sale qualifies for the HAFA program (Home Affordable Foreclosure Alternatives), then you may be eligible for a number of HAFA financial incentives.

HAFA is available for mortgages that are owned or guaranteed by Fannie Mae or Freddie Mac or serviced by over 100 participating servicers. The benefit of a HAFA short sale is that you are no longer responsible for the difference between what you owe on your mortgage and the amount that your home sells for. You could also receive up to a $3,000 in relocation assistance upon successful closing of your short sale. HAFA is an official U.S. Government program of the Departments of the Treasury and Housing and Urban Development. In summary, the U.S. Government does not want you foreclosed on and is willing to pay you up to $3,000 for the successful completion of a HAFA short sale of your home.

Why is the U.S. Government paying up to $3,000 cash? Foreclosure will devastate your credit and finances for 5 to 10 years to come. Our government would rather have you back on your financial feet quickly via a short sale so you continue to participate as a viable member of our economy and is willing to pay you cold hard cash to get that message across (ie go the short sale route versus being foreclosed on).

Only 30% of distressed homeowners that would likely qualify for a short sale even try (the other 70% of distressed homeowners commit unnecessary economic suicide via a foreclosure) and our government is trying to do something about that shocking statistic by offering cash incentives to do the right thing.

In a Short Sale, the servicer allows you to list and sell the mortgaged property with the understanding that the net proceeds from the sale may be less than the total amount due on the first mortgage.

Even better is the HAFA stipulation that you will be completely released from the first mortgage debt (ie no deficiency and no promissory note). Now you don’t have to worry about paying all that money back.

Here are a few other advantages HAFA has over a normal Short Sale.

1. The lender must process the short sale within 30 days.

2. Lenders are no longer required to check your financial information and confirm that your debt to income ratio is higher than 31%.

3. The short sale can often be pre-approved when it is put on the market. This is good news because it makes your home more attractive to home buyers.

As an incentive to help lenders process HAFA short sales, your lender can get a check for up to $1,500 for helping you. Contact me to see if you qualify for a HAFA short sale.

I can help you Short Sale your property and never pay the bank another penny. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a Short Sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE.

George is a Real Estate Agent at Keller Williams Realty. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification, foreclosure, and short sales in Austin Texas. Austin Loan Modification Help. Austin Short Sales. Austin Short Sale Realtor. Austin Texas Short Sales. Austin Realtor. Austin Foreclosure.

Austin Texas – How does foreclosure, bankruptcy, loan modifications, and short sales affect a credit score?

There are 2 things that are considered horrible on your credit report. Those 2 are items are foreclosure and bankruptcy.

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

A foreclosure and/or bankruptcy will immediately lower a credit score by around 250 to 400 points. (The number is not hard and fast – it all depends upon what the score was before the foreclosure, and other factors).

The way credit bureaus write the algorithm, a foreclosure will keep on pushing your score down for the next 2 years! And a foreclosure can also stay on a credit report for 7 to 10 years.

Short sales are different from a foreclosure. Short sales and loan modifications by themselves do not normally hurt a credit score (depending on how they are reported.) It is the missed payments that ding your credit report with a short sale or loan modification.

How a short sale is coded/reported to the credit reporting bureau does make a difference in the affect it has on your score. It could be reported as a charge-off, a 120 day late payment, paid-as-agreed, or a settled account.

Those four coding methods could ding your credit anywhere from 0 to 150 points. Here is the good news. The way the credit bureaus do the algorithm, a short sale will damage your score for a much shorter length of time (about 1 to 2 years) than the 7 to 10 years a foreclosure and/or bankruptcy does.

How a short sale is reported to the credit bureaus is something that can be negotiated as part of the process of the sales negotiations. A good short sale agent can have a positive impact on how a short sale is coded to your credit report.

Thinking about a short sale? Want to learn about more about if a short sale is right for you?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE.

George is a Real Estate Agent at Keller Williams Realty in Austin, Texas:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress:

View My homes for sale at www.GeorgeKieferAustin.com.

George Kiefer, GRI, CDPE specializes in loan modification, short sales, and foreclosure in Austin Texas. Austin Loan Modification Help. Austin Short Sales. Austin Short Sale Realtor. Austin Texas Short Sales. Austin Foreclosure Realtor.

Austin Texas – The Stop Foreclosure Institute recently received a question from Paul. Here is Paul’s Question.

“I am thinking about doing a short sale, but I am behind on my property taxes. Will I still have to pay my taxes at closing if I short sale my home?

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

Here is the answer to Paul’s Question: No. In almost all cases your lender will pay those property taxes for you at closing. Property taxes are a first priority lien on a property.

That means that if a property is foreclosed upon, then they still have to be paid. They don’t go away for any reason (meaning they become your lender’s problem after they foreclose on you).

This is also why most lenders want to charge you monthly and then pay the property taxes themselves via escrow accounts. They know that the taxes are a big bill that only comes once a year.

Not everyone can afford that big bill. Because your lender knows they will still have to pay the property taxes after a foreclosure, they are also willing to pay them during a short sale too.

A foreclosure is a liquidation of the property to simply get what they can and move on. A short sale has been proven to net lenders more money than a foreclosure (that is why lenders prefer to short sale versus foreclose).

So if you have quit paying mortgage and your lender is looking at liquidating the property, they would rather net more money via a short sale and avoid foreclosing on you if possible. That is why they are willing to pick up the tax bill at closing.

Every short sale I have closed has resulted in the lender paying the property taxes that were owed. In some of the short sales I have closed, I have seen lenders pay 2 to 3 years of back property taxes at closing. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE.

George is a Real Estate Agent at Keller Williams Realty. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at http://www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor , Short Sale Realtor. Austin Texas Short Sales. Austin Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are George Kiefer’s personal views and do not reflect the views of Keller Williams Realty.

This information on Will I Still Have To Pay Property Taxes If I Do A Austin Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Austin Texas – A home owner thinking of a short sale recently asked me why they should short sale versus just walking away and letting their lender foreclose on the home. I gave them the short answer: “It’s much better for your credit.”

But, I knew there are many more benefits to a home owner than simply better credit. So I put together the main benefits and here they are.

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

1. The upside down house debt is erased in most cases. If you are selling because of a financial hardship, then the upside down house debt will be automatically erased in most cases. If your loan is owned or insured by the following agencies: Fannie Mae, Freddie Mac, FHA, USDA, and/or VA; their policies state that your short sale debt will be erased completely.

2. You are eligible to buy another home much sooner compared to a foreclosure. The most common loan programs, Fannie Mae and FHA, stipulate that you can buy another home under their programs in about 2 to 3 years.

3. Short Sale is at NO Cost To You. That is right. A short sale costs you nothing. ALL the selling expenses are paid by your lender. That includes the title insurance, attorney fees, agent commissions, and back taxes.

4. Your credit suffers much less much less damage. Many people think that a short sale will be the kiss of death to their credit. The opposite is true. That is the one big advantage of a short sale over a foreclosure. And your credit rebounds much more quickly with a short sale versus foreclosure. The other benefit is that you will have less debt. (More debt hurts your credit score.) You will have a lower debt to income ratio, which could actually boost your credit scores. Within a couple of years or less, your credit will be back to normal or even higher than before you short sold, and now you can even buy another home if you want.

5. You can often rent a comparable house for less than your former mortgage payment. I often see homeowners rent larger, nicer homes for less money in the very same areas and neighborhoods they short sold in.

6. You avoid the humiliation of a foreclosure. Neighbors know when foreclosure occurs. Not so with a short sale. With short sale, your listing looks like all the other normal seller listings in the neighborhood.

7. You don’t have to pay rent or make payments during the short sale process. Most short sales take 3 to 12 months to complete. Most people do not make mortgage payments during the short sale process (but do continue to live the house). You can use that savings of not having to make house payments or rent payments to relieve other financial pressures in your life.

8. You will likely qualify for some type of cash at closing incentive. These cash incentives range from $2,000 to as high as $35,000 and are being paid by Lenders, the U.S. Treasury (HAFA), and FHA (HUD) to Short Sale your home (versus be foreclosed on). You can use this money you receive at closing for moving and relocation costs (or to just get back on your financial feet).

Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer, GRI, CDPE.

George is a Real Estate Agent and Broker Associate at Keller Williams Realty in Austin, Texas. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor Austin Texas Short Sales. Austin Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

George Kiefer, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are George’s personal views and do not reflect the views of Keller Williams Realty.

This information on Austin Short Sale Question About Deficiencies is provided as a courtesy to our viewers to help them make informed decisions.

Austin Texas – Here are a few things you should not be surprised to see crop up during the Short Sale process in Texas.

Unscrupulous Debt Collection Tactics. If you are sinking into financial hardship, then paying credit cards and other unsecured debts is likely your lowest priority. An unsecured debt is a debt where they can’t take away your car or house. A secured debt has something as collateral, such as your car, house, or anything else of value.

The most commons unsecured debt is a credit card. When you stop paying them, they will call you nonstop. The reason is because they don’t have any other way to collect from you.

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

They can’t come get your car or take your house. So, they make up for that by blowing up your phone with harassing calls. In addition, they use deceptive tricks to get you to pay them.

For example, there are Federal Laws that regulate what they can do or say. They aren’t allowed to threaten to sue you, but then not follow thru and actually file suit.

To get around this rule, they will use language that sounds legal, but isn’t. In one situation, a debt collector in Buffalo, New York named their firm Hoffman, Weinberg, and O’Brien to make it sound like they were a law firm.

They would then leave messages on people’s answering machines. They would say they were with the office of Hoffman, Weinberg, and O’Brien and then say they may resort to future legal action. In addition, they would reference a case number like 8306042.

If you didn’t know any better, you would think the case number was for an actual lawsuit against you. That is scary. Don’t you agree?

Most credit card accounts never sue (despite the constant threats.) Even when they do sue and get a judgment, they rarely ever attempt to garnish wages.

A lot of judgments expire without getting paid. But, a lot of them get paid off when a person’s income increases, or that person sells a valuable asset such as a house because they become a hindrance.

It might seem like the short sale process takes a long time. Some short sales only take a few months and before you know it, you are moving out of your house and onto the next place.

However, some short sales will take a lot longer. We have some files that we have been working on for over a year and some even longer.

It’s not the end of the world. Just stay put and keep on saving the money you would otherwise be using for rent or mortgage payments. In most cases the short sale will eventually be approved and you can move on with your life.

The lender you short sale may later attempt to collect money from you when they aren’t legally entitled to do so. We have heard several stories of some lenders asking for a promissory note when the state the property was in did not allow the lender to pursue the homeowner after a short sale.

The stories in question were for short sales of properties in California and Washington. Don’t sign a promissory note a lender sends you after a short sale when you are in a non-recourse state like Texas.

Talk to a lawyer to see if you are obligated to repay the debt. You could probably get out of repaying it if you tried. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer.

George is a Real Estate Agent at Keller Williams Realty. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at http://www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor , Short Sale Realtor. Austin Texas Short Sales. Austin Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are George Kiefer’s personal views and do not reflect the views of Keller Williams Realty.

This information on What you can expect during and after the Austin Short Sale Process is provided as a courtesy to our viewers to help them make informed decisions.

Austin Texas – The Star Tribune, a newspaper in Minneapolis, recently ran a story about loan modifications. Here is an excerpt from the article:

“Many people who sought help under a federal program created to keep them from losing their homes are instead getting saddled with huge, unexpected bills.

Thousands now face a stark choice: Go deeper into debt, or foreclosure.

Lenders routinely approved short-term “trial” loan modifications that reduced payments for desperate borrowers under the umbrella of the Obama administration’s Home Affordable Modification Program. But lenders continued to count the mortgages as delinquent or in default.

Now instead of granting permanent modifications, lenders often are reinstating the original loan terms and demanding big back payments.

Carl Christensen, a Minneapolis real estate attorney, said he is getting 15 telephone calls a week from shocked borrowers.

“The banks put out their hand and say, ‘We’re going to help you,’ and then stab people right in the back,” Christensen said.

Patti, 51, and Scott Weddle, 57, of Harris, Minn., were ecstatic when J.P. Morgan Chase offered in November 2009 to cut their monthly mortgage payments by about 20 percent under a trial modification. Patti was out of work with a neck and back injury, and the Weddles were having difficulty making ends meet.

Nearly a year later, the Weddles were told that their application for a permanent modification was denied and that they would have to pay $24,228 to bring their mortgage current and avoid foreclosure.

The Weddles insist the demand came as a shock, because they had made all their payments on time under the trial modification. “We did everything that was asked of us, and it only pushed us deeper in the hole,” Patti Weddle said.

A growing number of critics contend the loan modification program, known within the industry as HAMP, may be doing more harm than good. Many homeowners are draining their savings and incurring new loans to make the temporary payments only to end up in foreclosure anyway when they can’t afford the large, lump-sum payments demanded at the end of the process.

When the Weddles got turned down for permanent relief under HAMP, they decided to stop making their monthly payments. They expect to receive foreclosure papers any day and most of their belongings are packed. “If we had $24,000 lying around, then we wouldn’t have sought help to begin with,” Patti Weddle said.

A spokesman for J.P. Morgan Chase said the risks were disclosed to the Weddles. Under the trial modification signed by the couple, J.P. Morgan reserved the right to terminate the plan at any point and begin foreclosure. The bank also reserved the right to determine the final amounts of unpaid interest and any other delinquent amounts.

“We work with customers to try to keep them in the home whenever possible,” said Thomas Kelly, a bank spokesman. “And the HAMP documents clearly explain the steps along the way.”

Paula Viehman, 60, recalls the day she was approved for a trial modification in June 2009. After a 30-minute conversation, a CitiMortgage representative agreed to cut her monthly payment by half to $929. “It was the answer to my prayers,” said Viehman, a state employee who lives in Minneapolis.

Fifteen months later, CitiMortgage sent two letters claiming she was in default on her mortgage and owed $13,569 in back payments, late fees and other charges. When Viehman called to complain, she learned that CitiMortgage had denied her application for permanent relief under HAMP, though the bank had never notified her.

Viehman refuses to make the lump-sum payment, largely on principle, because that would mean accepting Citi-Mortgage’s claim that she’s in default. Though she continues to make monthly mortgage payments, she suspects the bank will eventually foreclose on the house where she’s lived for 25 years.

“The longer I go through this, the madder I get,” she said. “I did everything they asked and more.”

Citigroup, CitiMortgage’s parent company, declined to comment about Viehman’s complaints because of privacy concerns. However, in a written statement, the bank said the original terms of a mortgage remain in place during a trial modification. Borrowers only receive relief from delinquent payments if they get permanent modifications.

Many borrowers say they never would have signed up for HAMP had they known the risks.

Lynda Devine, 49, of Faribault, said she had not even heard of HAMP until she called her mortgage servicer, Aurora Loan Services of Colorado, about a routine matter. While on hold, she found herself listening to a recorded message that said she might qualify for HAMP. She checked it out and learned it was a program sponsored by the Obama administration. “It all seemed very legit,” she said.

Aurora agreed to cut her monthly payment to $1,400 from $2,000 under a trial modification. But Devine, a children’s mental health social worker and waitress, soon found herself mired in a bureaucratic nightmare. As she sought permanent relief, Aurora kept asking for the same documents — including bank and tax statements. Devine estimates she has faxed documents to Aurora more than 60 times.

Nonetheless, she received notice in July that she was in default. Soon after, she got a letter from Aurora’s law firm saying she would have to come up with $13,496 or face foreclosure. Devine couldn’t stomach the idea of losing her 1920s-era farmhouse and her 35 acres, where she keeps three beloved horses.

Aurora did not return repeated calls seeking comment.

Devine borrowed against her truck and horse trailer to pay the $13,496, but she’s considering suing Aurora to get the money back.”

I think that what these banks are doing is pathetic. In my opinion, half the reason that loan mods aren’t approved is because the lenders are too lazy to process the files.

In fact, the article continues and tells us how the lenders are actually rewarded for not processing loan modifications. Here is what it says.

“Incentives favor foreclosure. It would seem to be in a mortgage company’s interest to modify a mortgage, because lenders often recover only a small fraction of a loan after a foreclosure. But only 12 percent of all delinquent mortgage borrowers are receiving permanent relief under HAMP.

Last month, a congressional panel predicted it would prevent just 700,000 to 800,000 foreclosures — far fewer than the Obama administration’s original goal of 3 million to 4 million.

Some lending experts argue that the root of the problem lies in the complicated way in which mortgages are bought and sold. Most end up with institutions or investment trusts that hire servicers to collect monthly payments.

Servicers, unlike lenders, don’t generally lose money on a foreclosure. In fact, servicers actually can collect more in fees on a foreclosure than from modifying a mortgage, according to a 2009 study by the National Consumer Law Center.”

I think the entire system is flawed. The only people that get relief are people that fight for it. If you feel like you have been turned down for a loan modification, then I would recommend that you protest in front of the lender’s local branch.

Nothing is going to change until people know about what is happening. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at GeorgeKiefer@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (512) 970-0709

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Austin loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, George Kiefer.

George is a Real Estate Agent at Keller Williams Realty. Austin Short Sales Realtor:

Phone: (512) 970-0709. GeorgeKiefer@gmail.com.

Assisting Homeowners in Distress

View My homes for sale at http://www.GeorgeKieferAustin.com.

George Kiefer specializes in loan modification assistance and short sales in Austin Texas. Austin Loan Modification Help, Austin Short Sales. Austin Short Sale Realtor , Short Sale Realtor. Austin Texas Short Sales. Austin Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are George Kiefer’s personal views and do not reflect the views of Keller Williams Realty.

This information on Austin Short Sales: Loan Modifications can be a recipe for disaster is provided as a courtesy to our viewers to help them make informed decisions.