Expert Foreclosure Help

Why the Short Sale Process is a Win-Win For All

Are you an Arizona homeowner who is drowning in debt and can no longer afford your mortgage? Are you facing foreclosure? You need to know about the short sale process. This is simply a process in which the lender agrees to settle the debt you owe on your property for less that the full amount. This is not something you should attempt yourself, however. An experienced Phoenix Short Sale realtor will help you negotiate all areas of the process.

Why would you need a real estate agent to pursue the short sale route? It is a process that can be lengthy, which is why many people avoid it. Finding the right buyer can take time, but a highly trained agent can quickly find a buyer for your home, and explain every detail of the short sale process to you. In the end, everyone is happy. The banks insist on the property being listing with a legitimate real estate company in order for them to even entertain the sale. Even though it can take a little time, the advantages to you are definitely worth the wait.

Most likely you believe that your only option is foreclosure, which will completely ruin your credit. The short sale does affect your credit rating, however the damage is much less devastating. Why destroy your credit for seven years and have no chance of getting another home of your own when you don’t have to? By going with a short sale, the debt is settled. The buyer gets a home at a great price, and you can proudly say that you sold your home! Add to that the fact that you will most likely be able to purchase another home in as little as 24 months or less and it’s a much better ending for you as well.

Fannie Mae & Freddie Mac look favorably upon those who go the short sale route. Why? Because they see it as the homeowner taking responsibility and doing the right thing in spite of the financial difficulties they are having. Those who choose foreclosure often get penalized, and cannot purchase another home for up to 7 years. It just makes good sense to protect your credit and avoid the stigma.

In Arizona, a buyer can purchase your home for an amount that is less than market value. This is great for the buyer, and the lender would rather have less money. After all, lenders are not in the business of having vacant properties on their books. You, as the homeowner, have a much brighter future! You can avoid complete credit ruin, get a buyer for your home, and get out from under the debt that is pushing you further and further under water. Talk to a highly experienced Short Sale Phoenix realtor about the short sale process today – you will be glad you did.

Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties.