Arizona Short Sale Realtor | Scottsdale | Surprise | Phoenix | Peoria | El Mirage | Buckeye

Short Sales Arizona

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Of All Available Options....Foreclosure is the Worst.

Chances are, you or someone you know in Arizona is facing the possibility of foreclosure. But you need to understand that you are not alone.

Click Below to Receive Your Free Reports and to Watch Educational Videos on Short Sales, Foreclosures, and Loan Modifications!
First Steps to Avoid Foreclosure
7 Dangerous Short Sale Myths
Foreclosure Vs. Short Sale in Arizona
Foreclosure Options and Solutions
Truth About Loan Modifications
Strategic Defaults...NOT Strategic

Today, 1 out of every 10 homeowners in America is behind on mortgage payments. These are tough and frustrating times. Now more than ever, it's important to identify your options as an Arizona Home Owner. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged.

Through my experience handling distressed properties at Pro-Formance Realty Concepts in Arizona, I've found that homeowners today have more questions than answers about their circumstances. I have created this site to help you understand the possible solutions to foreclosure, as well as provide a detailed explanation of Arizona Short Sales, which may be the best course of action for some Arizona homeowners.

You may also have noticed that I'm offering you a FREE Report to explain your options and help you decide on a course of action. The idea of losing a home can be overwhelming, and I feel it is vital for you to have all the facts necessary to make an informed decision.

As an agent with the CDPE® Designation, I have a strong and unique appreciation of the factors affecting the market, and know that there are options available to you. Our services are provided to you free of charge.

If you would like to know more about your options, please call me at (623) 298-4557 or E-mail me.

I am here to help … in any way I can.

Ready to Get Started?

Click Here to Request a Short Sale Packet

Frequently Asked Questions

What is a Short Sale?

Simply put....A Short Sale is the process of selling your home for less than the amount owed on the mortgage.

Why Would a Lender Consider a Short Sale?

If a Workout Program is not an option, a lender will consider allowing you to Short Sale the home. The reason is simple. If your property were to go into foreclosure, the bank would then have to sell it for fair market value anyways. The reason a short sale is so attractive is because it eliminates the $40,000-$60,000 that the bank would have to pay in legal fees in order to assume the property via foreclosure. This saves the bank out of pocket expenses and also reduces the risk of the owner of the home destroying the property upon move-out.

What are the BENEFITS of a Short Sale?

Avoid Foreclosure
Less of an impact on your credit versus a foreclosure (Foreclosures can haunt your credit for 10 Years)
Protects your ability to purchase in the future (You can purchase again sooner than if you foreclose)
The lender agrees to not pursue the deficiency in court so you are not making payments on a home that you no longer own
Homeowners are able to spend more time in their homes (as auction dates can be postponed)
Foreclosures make it difficult to rent an apartment, borrow money, and in some cases to even find employement

What will the Bank Need From Me to Consider My Short Sale?

The sellers' submission package should include W-2 forms from employers (or a letter explaining the seller is unemployed), bank statements, two years of tax returns, and other financial documents outlining income and debt obligations. The bank will also need comps or a broker's price opinion showing your estimate of value. In addition, the sellers should submit a "hardship letter," explaining the circumstances that make it impossible for them to pay the full amount of the loan. The seller needs to be able to show true financial hardship. Someone with the assets or the income to pay is unlikely to be considered, say most interviewees. A knowledgeable and experienced REALTOR will submit the packet on your behalf after placing the home on the active market for sale.

How Long Does it Take to Complete a Short Sale?

Although response times vary from lender to lender, it can take two weeks or as long as 180 days to receive an approval of a short sale from a lender. That's why it's critical that buyers and their representative understand and accept that time frame before they make an offer.

What are the Common "Myth-Understandings" of a Short Sale?

I have to be behind on my payments in order for my lender to consider the sale
Lenders don't approve short sales
I have to move out of my home in order to sell
I can't afford to hire a Realtor to Short Sale my home
I owe too much and my lender will not absorb the loss
I have already missed payments/my foreclosure date is scheduled and it is therefore too late

How Can You Help?

Extend any current or future foreclosure dates so that you are able to stay in your home longer
Directly negotiate the sale of your home with your lender
Provide weekly updates as to the status of your sale so you are never left in the dark on your transaction
Negotiate for your lender to not pursue the deficiency on your Short Sale
Negotiate our fees directly with the lender. You pay nothing for our services!

This disclosure does not list all possible repercussions of a short sale. It is designed for upfront disclosure only, individual circumstances may vary. Once again, please obtain advice from a competent real estate lawyer on legal issues and discuss with your accountant the tax ramifications that may be unique to your specific situation.

Arizona Short Sale Realtor | Scottsdale | Surprise | Phoenix | Peoria | El Mirage | Buckeye

Short Sales Arizona

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