Designated Broker/Owner
Whether you live in Phoenix, Scottsdale, Mesa or Glendale, you may find that you just cannot afford your mortgage any longer. In fact, you may owe more on your home than what it is worth, and it seems you are getting farther and farther behind. A short sale is a viable option for those who see no way out of their dilemma, and fear they are facing foreclosure. An experienced Arizona realtor can help you understand the process, and also assist you in all negotiations should you decide the short sale route is right for you.
Are you already months behind in your mortgage payments? Foreclosure may be just a few weeks away, and is something you really want to avoid. While you may hear bad things about a short sale, most of that is due to the fact that it can be a lengthy process – but if you have a reputable real estate agent, it can be much simpler and accomplished in far less time.
One thing many people find attractive about the short sale is that they can honestly tell friends and family they sold their home and avoid embarrassment often associated with foreclosure. You can also avoid having your credit completely destroyed, which can be devastating for some people. When your credit is demolished, you are looking at about 7 years of not being able to purchase anything on credit – even another home.
A short sale will affect your credit rating somewhat, but not like foreclosure does. You will likely be able to purchase another home in two years or less. Why do you need an Arizona realtor if you decide to go this route? They will help you negotiate with your lender, and also help you find a buyer for your home. Your lender must approve the offer of the buyer; a good agent can make sure that the price the buyer is offering is in the ball park, so that you do not waste time.
As long as you can prove good reason for why you can no longer pay your mortgage and your lender agrees, a short sale may be just the solution to your problem. Lenders would rather have some money on your home, because they are not in the business of owning vacant properties. If you live in Phoenix, Scottsdale, Glendale, Mesa or surrounding areas and need to consult with a professional, contact an experienced, Certified Arizona short sale realtor today.
Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties
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