5 Tips to Better Navigate the Short Sale Process

Unfortunately, with the economy's slow recovery and still-high unemployment rates, many homeowners continue to confront difficulties in making their mortgage payments. If you're one of these homeowners, know that you're not alone and know that there are several options to explore prior to foreclosure, such as a short sale. A short sale occurs when the outstanding loan(s) against a property are greater than what the property can be sold for.

As you've probably heard, however, short sales can be a drawn out and complicated process. Here are five tips to help you create a successful short sale:

1. Get comparable sale prices and an estimate of expected closing costs to help verify the current market value of your home.

2. Determine the amount of all loans against the property. Subtract the total amount you owe on the property from the estimated proceeds of the sale.

3. Contact your lender or lenders. Insist on speaking with someone in authority about a short sale. Remember that you are asking the lender to accept less than the total amount you owe, so be firm but cooperative.

4. Be prepared to submit the necessary documentation, including a letter of authorization giving the lender permission to talk with specific interested parties about your loan. Include your name, address, the loan number, and your agent's contact information.

5. Include a hardship letter describing how you got into a financial bind, and provide proof of your assets and income. You also may wish to include recent bank statements, with an explanation of any unusual deposits or withdrawals, and your broker's competitive market analysis.

Be sure to work with a real estate agent who has experience in short sales. Many agents have been through comprehensive short sale training and received special distressed property designations. Above all, the short sale process requires patience-even after you find a buyer. But for many homeowners, it was well worth it.

Go to http://www.alternativeforeclosuresolutions.com/ for more information about short sales.

Short Sale Special Agents on a Mission

Just a cute photo of my team. The Mahon Team, aka Alternative Foreclosure Solutions, is tackling Short Sales and helping homeowners avoid foreclosure. Special Agent Mahon, Winter and Sirgo stands ready to serve homeowners who are behind on their mortgage and need assistance.

We're no Charlie's Angels... but maybe you could call us KW Angels :)

Whats up with the Mahon Team!

Hey there everyone!

It's been a while since I last posted to my blog. ALOT has happened in the past few months. My team is growing by leaps and bounds! I hired a new assistant this past April. Her name is Karen Sirgo and is long time resident of Round Rock. Her and her husband owns Pure and Simple Water. Karen brings order to my business and am very grateful she has joined our team!

Kellie Winter is the lastest addition to our team. She is our buyer's agent and has been extremely busy helping our clients find their dream homes. Kellie also owns Milani Custom Interiors. She is my goto home stager when I have a listing that needs to be staged to sell.

With all of this growth, we got an office within the Keller Williams office in Round Rock. This is a big move since I have been officing out of my home my entire real estate career. You can check out these pics as we were getting the office ready for us to move in! Can I say I HATE PAINTING!!!

Another big thing that has happened is that I am now an Affiliate Short Sale Trainer/Coach with America's Home Rescue. This is the short sale program I went through last year that revolutionize my business. It taught me how to help homeowners avoid foreclosure by negioating a short sale with their lender. Because of my success with the program, they have asked me to help teach other agents how to help other homeowners.

Well thats about it for now... sorry for not posting in a while! Take care!!

The Mahon Team Launches Alternative Foreclosure Solutions!

The Mahon Team has recently launched a new part of our business..... Alternative Foreclosure Solutions. This part of our business allows us to help homeowners nationwide avoid foreclosure. If you or anyone you know is faced with foreclosure.... just know there are alternatives... and we can help! This will help save your credit, and hopefully allow you or your loved ones purchase a house again soon!

Check out our new commercial that is set to air on 10 different cable networks in the surrounding areas of Austin,TX in October. If you are not in the Austin area.... no worries... we can help you too.