Arizona Homeowner in Scottsdale, Cave Creek and Glendale: Could a Short Sale Be the Solution for Yo

May 6, 2010 - PRLog -- Many Arizona homeowners are unclear about a short sale and how it works.  If you are upside down in your mortgage, you may be facing foreclosure – or at least you know there is no way out that you can determine.  Due to unforeseen problems, you can no longer afford your mortgage or are possibly already behind several months.  An experienced Phoenix realtor understands the short sale process thoroughly, and can help you get out of the situation you are in without facing foreclosure and the stigma that often goes along with it.

What does the term 'short sale' actually mean?  It simply means that you sell your home for less than you owe on your mortgage.  What about your lender, why would they take less money and not force you to pay the entire amount due?  When you prove a hardship, they realize that you cannot pay your mortgage, and are often willing to settle for a discounted amount on your home.  They would rather have the money than an empty property sitting on their books.  That being said, they do want a buyer who is willing to pay an amount similar to what other comparable homes in the market are worth.

This is where an experienced Certified Arizona short sale realtor comes in.  They know the value of homes in your area, and are often able to find a suitable buyer for your home quickly.  This helps make the process a little shorter, so that you are not tangled up in paperwork for months.  In fact, a real estate agent can handle many of the details for you, which makes everything less stressful for the homeowner.

Foreclosure costs lenders a ton of money, which is another reason they will often agree to a short sale on your home.  You will most likely have to demonstrate your hardship to your lender, which could be any number of things – loss of your job, medical problems, divorce, and other circumstances.  A certified short sale real estate agent can take you through all of these details, so that you understand what is necessary to successfully sell your home and move on with life.

Another reason many homeowners decide to go the short sale route is so that they can save their credit to an extent.  While it will be affected, your credit will not likely be completely demolished as it will with foreclosure.  You can walk away from your home, knowing that you actually sold it.  While this may not be the solution for every homeowner, it is certainly something worth mulling over.  Talk to an Arizona short sale realtor today, so that you have all of the details you need to make an informed decision.
Maureen Karpinski
Find your Phoenix Arizona Property at http://www.cactuscountryproperty.com/city/phoenix.htm
Posted by Cactus Country Arizona Homes & Properties http://www.cactuscountryproperty.com

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