Phoenix Real Estate

For you Roger

 

Gilbert Beauty!

Newest listing on the block!  Check out this great home. Upgrades galore, stone countertops, upgraded kitchen appliances and fixtures, tile in all the right places and a great master suite! Minutes from dining, shopping at the new San Tan Mall and freeway entrance!

THANK YOU THANK YOU THANK YOU!

Thank you to everyone who registered to for the $50 Claim Jumper Gift Certificate.  I am happy to announce that Lou Burgess is the lucky winner!  We will be sending that gift certificate out today.

Also, don't forget, tomorrow is Valentine's Day.  Guys, don't forget your gals.

Loan Modifications, the facts

A quick word about this very common term that is being seen and heard everywhere.   The definition of loan modification in the simplest terms is a change to your current loan agreement.

Once you experience a "hardship" (loss of job, relocation with job, divorce, medical situation, etc) and miss your mortgage payment you will usually qualify for a loan modification.  This is because the bank has options once this happens.  Most of these options you and the bank would prefer to avoid. One very viable option for you and bank to consider is a loan modification.

Here's the bottom line. Loan modification is legal, safe and necessary in this economy.  Banks would rather work with you to save your home and keep the homeowner paying than they would try to collect or even end up with nothing and real estate now on the books.

Here are few answers to frequently asked questions:

Whocan do a loan modification? You can. I don't recommend that you do. Attorney's have also been successful in getting them done. There are companies all over who will also "say" they can do them...80% of which are scams.  The fact is that loan modifications aren't cut and dry. Each bank requires a different set of criteria for each loan.  Each situation is different and likewise, each modification scenario can be very different. 

How will they modify the loan?  Usually you will get an interest reduction, principle reduction, or other new terms like time to pay back the loan or a temporary repayment plan. Usually resulting in a lower payment.

If you or someone you know is currently facing the situation where you can't pay your mortgage, you do have options. Don't bury your head in the sand. Take the first step to help you determine the direction in which to proceed.  Platinum Financial Resources, another division of the Platinum Group can help.  We are a local Arizona company with over 25 years of financial, banking and real estate experience. We have been helping homeowners stay in their homes through loan modification and we can help you too.

To assist us with the sometimes difficult task of getting a bank to act we also have an in-house attorney.  With legal support and our past success, we are confident that we can help you with your loan modification.  The first consultation is free and we urge to take the first step. 

Sometimes loan modification is not the right answer.  If you are looking to cut your payment in half, it most likely won't happen.  If your debt to income ratio is totally out of whack you probably won't get approved. If you have a 6% interest rate and haven't been late on a payment your chances are greatly diminished. Again, each case is different. Before you go out and hire the first company you contact-or that contacts you-make sure you are armed with the right questions to ask so that you have the best chance at getting approved.  If a loan modification is not right for you, perhaps you may need to short sale.  Please feel free to contact me directly for more answers to your loan modification or short sale questions at debbie@theplatinumpros.com.

Go Cardinals!

Who would have ever thought that our Cardinals would be playing in the Superbowl this weekend?  I've never really been a fan. I really only paid attention when I heard about the big-shot rookie (who also happens to be quite easy on the eyes) from USC would be coming to our town to strut his stuff.  That interest fizzled very quickly after seeing him basically bomb the first season.  It was back to cheering on the Suns and my favorite Steve Nash...but that is another post.

I guess there are more Cardinal fans than I had originally thought.  I know that just about every home game is sold out, but Phoenix has a population of roughly a million, it's safe to say that on Sunday afternoons there are at least five percent of our population willing to pay $50, drive to Glendale and root for the home team.  Well, after a quick trip to Costco tonight in Gilbert, AZ I realized there were were a lot of Cardinal fans. Everywhere I looked Cardinal mania. I have to admit that while on a trip to Walmart last week I was slightly wooed by the red fitted Cardinal Jerseys...sick I know! But evidently there were plenty of people who weren't able to fight the temptation and bought one or more of those red jerseys. Tonight wearers of those jerseys were on old and young, male and female, black and white.  It was kind of nice to see our little community of Gilbert come together-in the spirit of men wrastling each other to the ground for possession of some pig skin-at my local Costco.

I'm not one to pass up a party either. We will reconvene with the other Kimball's this weekend with our chips and dips our brats and potato salad to enjoy the commercials..er, um the game together.  The game is this Sunday, February 1, 2009 at 4:00 PM Phoenix time. 

Rah! Rah! Rah!