Loan Modification, Short Sale, Foreclosure. These are three terms homeowners did not talk much about 3 or 4 years ago.††Unfortunately, many homeowners are†now dealing with these terms personally.†
It is estimated that over 51% of Arizona homeowners are upside down on their home mortgages.† Worse yet, many of these home owners owe more than $100,000 more than their home is worth AND they have no other financial reserves.† So what happens when these people canít keep up with their mortgage payments because of adjustable rate mortgages, job loss, business failure, severe illness, divorce, separation, reduced income, or even death?
That is where Loan Modifications, Short Sales, and Foreclosures might come into play.† When you request this informational packet, I will explain what these options are along with all the other possibilities if you are upside down on your home.† Tax and legal questions should always be directed to an attorney or CPA but†I will gladly answer your general questions regarding the process of Loan Modifications, Short Sales, and Foreclosures.
The purpose of this informational packet is to educate the public on their alternatives to walking away from their home.† Many people are making decisions without considering all their options and how they will impact their credit history, ability to buy another home, deficiency payments, or tax obligations.† There are ways to reduce OR ELIMINATE these risks!
Keep in mind that there are many available alternatives to walking away from your home.† In my opinion, short sale is often the best decision that home owners have to protect them from the risks of foreclosure.† However every personís situation has many variables to consider.††
Please fill out the form on the top right of your screen and I will email your request for "Avoiding Foreclosure in Arizona" by the end of the business day.