The Arizona Short Sale Process ? Facts Every Financially Strapped Homeowner Should Know
Written by Administrator on December 15th, 2010The Arizona Short Sale Process ? Facts Every Financially Strapped Homeowner Should Know
As an Arizona homeowner who is upside down in your mortgage, it’s likely you are curious about the short sale process. If you live in Phoenix, Glendale, Cave Creek, Scottsdale and other nearby areas, you may be facing foreclosure and don’t know where to turn or what to do. A reputable Certified Short Sale Phoenix realtor with years of experience can help you turn your situation around. All is not lost, and there is hope!
For any number of reasons, people who never expected to have problems find themselves under water in their mortgage. You may be months behind in your payments, and see absolutely no way out. The Arizona short sale process is something you should consider; it has helped thousands avoid financial and credit ruin. Foreclosure is an ugly word, and a process you should avoid if at all possible.
Not all Phoenix real estate agents have experience in the short sale process. Why does it matter? A realtor with extensive knowledge in the process can help make every detail and transaction easier and less stressful. They know how it works, and will work fast to find the perfect buyer for your home. In order to avoid foreclosure, time is of the essence. You want to make certain you have experience in your corner!
The term “short sale” simply means that your lender is willing to accept less than what is owed on your mortgage. Most lenders would much rather have some money on the property so they can mark it as paid than to have an empty property on their hands. Once your realtor helps you locate a qualified buyer, your lending company will determine if their offer is acceptable. If so, you avoid foreclosure – and the stigma that often goes along with it. Your credit is still affected, but not completely ruined as it is with foreclosure. Most likely, you will be able to purchase another home in two years or less.
In order to qualify for a short sale, you will need to prove a financial hardship to your lender. This could be divorce, loss of job, death in the family, etc. A qualified Phoenix real estate agent can explain the process in-depth, so that you understand exactly how it works. If you are facing the loss of your home, do not wait. There is a limited time before foreclosure will take place! Talk to your realtor about the short sale process; it may be the best solution for getting out from under the burdens you now face.
Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties
Maureen has been in the real estate industry for 36 years as an agent and broker/owner of her own company. She prides herself in successful negotiation for both buyer and sellers and in building successful portfolios for investors. She is proud of her Agent friendly office environment that is her own creation and the caliber of real estate agents she has working for her
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