Arvest Bank frequently asked SHORT SALE & FORECLOSURE questions in New Mexico

What are some Arvest Bank foreclosure alternatives?
I am upside down on my mortgage with Arvest Bank, what should I do?
What is a Arvest Bank short sale?
Arvest Bank denied my loan modification, what's next?
What is the Arvest Bank short sale process?
How do I choose a Arvest Bank short sale company?
How do I qualify for a short sale with Arvest Bank?
Where do I find a Arvest Bank short sale expert?
How do I hire a Arvest Bank short sale REALTOR?
How to find short sale agents who work with Arvest Bank?
What are the documents required for a Arvest Bank short sale?
How do I write a Arvest Bank hardship letter?

What are some Arvest Bank FORECLOSURE ALTERNATIVES?

If you are wanting to avoid foreclosure with Arvest Bank in New Mexico, consider a short sale. Arvest Bank has alternatives to a foreclosure. With record high defaults (foreclosures), a great solution is a Arvest Bank approved short sales. There are a large number of people behind on their mortgage payments and upside down on their home that want to avoid foreclosure. Banks are allowing you to sell your home for less than what is owed. If you want to stop your home from going into foreclosure in New Mexico, a short sale may be the right solution for you. We provide this service at absoletely no cost to you and have great working relationships with Arvest Bank to help you in your time of need.

I AM upside down on MY mortgage with Arvest Bank, WHAT SHOULD I DO?

If you upside down on your Arvest Bank mortgage, there are options to avoid foreclosure in New Mexico. There are many options to either avoid a foreclosure or make your mortgage payment even more affordable. To avoid having a Arvest Bank foreclosure, one of the best options you might have would be performing what is called a short sale.

What is a Arvest Bank Short Sale?

Banks such as Arvest Bank are not wanting to absorb the cost of a foreclosure in New Mexico. Foreclosures are very expensive and time consuming. Banks will typically work with home owners in hardship and allow you to perform a short sale. Our company specializes in helping homeowners working out a short sale solution with Arvest Bank.

Arvest Bank Denied MY Loan Modification, whats next?

Knowing exactly what a short sale is will help you have a better understanding. We work with Arvest Bank to negotiate a short sale for you. Our team of Short Sale Experts in New Mexico have a great realationship with Arvest Bank and show that your home is worth much less than owed, and to avoid the hassels and expenses of foreclosing, we can negotiate a short sale.

What is the Arvest Bank short sale process?

• The lender acknowledges receipt of the file. (This can take 10 to 30 days.)
• A negotiator is assigned. (This can take 30 to 60 days.)
• A Brokers Price Option (BPO) is ordered. (This can take 10 to 15 days.)
• A second negotiator could be assigned. (This can take another 30 days.)
• The file is sent for review or to the PSA. (This can take 15 to 30 days.)
• The bank might request that all parties sign an Arm's-Length Affidavit.(Typically nortorized)
• The bank issues a short sale approval letter.
• Close the sale of your short sale

HOW TO CHOOSE A Arvest Bank Short Sale Company

When your loan modification is denied by Arvest Bank, you are an ideal canidate for getting the lender to approve you for a short sale. Lenders attempt to work with home owners to save their homes, but when you are denied a loan modification by Arvest Bank, they will allow you to short sale 99% of the time. Call us, we will give you other options.

How to Qualify for a Short Sale with Arvest Bank

There are many reasons a Arvest Bank will allow you to sell your home for less than owed. Any of these situations may qualify you for a short sale. (Note: these are most of them)

• Job loss or unemployment
• Relocation or involuntary job transfer
• Loss of income
• Decrease in working hours
• Medical expenses
• Major repairs on existing home
• Divorce
• Increased living expenses
• Death of borrower
• Short term or permanent disability
• Death of spouse or family member
• Business failure
• Vacant investment properties
• Bankruptcy

where do i FIND A Arvest Bank short sale expert

Arvest Bank foreclosure vs short sale in New Mexico. It could be the right solution for you. The lender short sale process in New Mexico can be a long and tedious task and negotiations could take months to complete. We strive to shorten this transaction timeline as a company by utilizing our relationships with Arvest Bank.

HOW TO HIRE a Arvest Bank short sale realtor?

Have a Professional Arvest Bank Short Sale Realtor in New Mexico working for you. Our Short Sale Realtors are the top short sale Realtors to facilitate a effortless and smooth short sale. We are the Arvest Bank Short Sale Experts in New Mexico. We have proven track record and can negotiate a short sale from beginning to end.

HOW TO FIND Short Sale agents WHO WORK WITH Arvest Bank in New Mexico?

We don't just want you to work with any Real Estate Agent, we want you to work with a Short Sale Realtor that is a short sale specialist in New Mexico. What is the difference between a short sale agent and a short sale Realtor who specialize in working with Arvest Bank? They both have to be licensed by the Department of Real Estate and follow the real estate laws. They both specialize in facilitating with short sale transactions and negotiations. The main difference is that a real estate agent is a REALTOR when he or she is a member of the National Association of Realtors. A Arvest Bank specialized Realtor in New Mexico has to abide by a stricter Code of Ethics and Standards of Practice.

Hire a local New Mexico Arvest Bank short sale expert to sell your home. Not all short sales are successful because every lender and situation is different. A short sale expert can examine your circumstances and be very knowledgeable of your options.

WHAT ARE THE documentS requireD for a Arvest Bank short sale in New Mexico?

When qualifing for a Arvest Bank short sale, most banks will require the following documentation to approve your short sale in .

• Recent Mortgage Statement
• 2 most recent months of paycheck stubs (if employed)
• 2 most recent months bank statements
• 2 most recent years W2's
• 2 most recent years Tax Returns
• Property Tax Bill (If it is not included in the mortgage)
• Property Insurance Bill/ Statement (if it is not included in the mortgage)
• Homeowners Assoc. Bill (If you have a Homeowners Association)
• Sellers hardship letter
• Complete financial statement
• Letter of authorization (which lets your short sale agent speak to the bank)
• HUD-1 or Preliminary Net Sheet
• Comparative Market Analysis or list of recent comparable sales

How do i write a Arvest Bank hardship letter?

The Arvest Bank hardship letter only needs to be about a page long typed out explaining your situation and how your circumstances have changed. The lenders want to know why you are not able to make your mortgage payments. Contat us today for a break down on how to write a proper Arvest Bank hardship letter.

some history about Arvest Bank

Arvest Bank is a diversified financial services company headquartered in Bentonville, Arkansas, with branches in Arkansas, Kansas, Oklahoma, and Missouri. Arvest has claimed to be the oldest bank in Arkansas because the home office and charter of McIlroy Bank & Trust in Fayetteville (founded in 1871). Through its various acquisitions over the years, and as a result of buyouts of other Arkansas banks, Arvest has grown to its current position as the largest Arkansas-based bank in terms of market share. It has been reported by many sources including Forbes that Arvest Bank is owned and controlled by the Walton family of Walmart fame, although Arvest is operated separately from the famous retail chain. Jim Walton runs the company.