Arizona Foreclosure Laws to Stop Arizona Foreclosure

Jan. 20, 2011 - PRLog -- A homeowner in a financial hardship, underwater (upside down on their mortgage), or simply can not make the payments anymore because they are on an adjustable or option arm mortgage has options.  Stop Foreclosure Arizona has more info at:
http://www.AvoidForeclosureAZ.com

One of the most common questions today facing an Arizona Homeowner is should I allow my home to be foreclosed on or should I short sale?

Many choose to just ignore the situation and walk away from their home and let the bank take it back.  This is usually a bad choice and later realized further down the road after a homeowner things the problem is gone.

Arizona Foreclosure Laws and Federal Tax Breaks on Short Sales are being put in place to help the homeowner, which in turn will help the economy turn around.  Real Estate is a big part of the economy.  In order to get the economy going, we need to get all the bad mortgages cleared up, all the bank owned properties sold, and get housing back to a normal level.

You no longer should have the mindset to just walk away and let the bank take your home.  Lenders typically are now offering big incentives to short sale your home.  Often times offering cash to move.  A big bonus is a law that was passed to stop you from paying income taxes on the difference between what you owed on your mortgage and what you sold your home for.  Another major law is the Arizona Anti Deficiency Law.

Many lenders are creating programs that offer cash to move, quick short sale processing, and waiving any deficiency judgements against you.

A short sale is typically the way for every homeowner to go.  Stop Arizona Foreclosure via short sales is an option every homeowner facing financial hardship needs to consider and look into as soon as they can.

To Recap:
- Walk away, let the bank take your home.  You will then have a foreclosure on your credit for 7-10 years.  A Major mark on your credit report that will make any credit based application challenging for many years.

- Complete an Arizona Short Sale.  Banks typically offering cash to move, your credit is only hurt, showing missed payments until the new buyer closes escrow.  You can typically purchase a new home within 2 years and have your credit back on track!

Get your free Foreclosure E-Book at http://www.BlockArizonaForeclosure.com