Arizona foreclosure rates are at an all time high, so don't feel like you're alone. A Arizona short sale may be the best way to keep your credit relatively intact (or from getting worse) for future purchases and can usually help you exit from a property without having to pay anything if you get the bank to accept payment in full without pursuit of a deficiency judgment.
What is a short sale?
A short sale occurs when the proceeds of a real estate sale fall short of the balance owed on the property. Typically, a short sale is conducted to prevent a bank from having to foreclose on a home. Although the lender may ultimately collect less than the amount owed on the mortgage, they will save money by not having to pay attorney's fees, go through an eviction process, make repairs to the home so it is marketable, or have the expense of keeping real estate in inventory.
Short sales can be very tricky and time consuming and need to be negotiated well ahead of time with the lender.
How do I get started on my short sale?
If you have recently had an interest rate adjustment, are behind on mortgage payments, have been contacted by your lender about a Arizona foreclosure, or are considering selling your home to avoid a Arizona foreclosure, call Linda Wieczorek about negotiating a short sale for you.
The key to a successful Arizona short sale is to call AZ Pride Properties as soon as possible Linda Wieczorek 602-391-8246
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