Saturday, February 20, 2010

Phoenix Homeowner Drowning in Mortgage Debt? Consider a Short Sale

If you are under water on your mortgage for your Phoenix home, you aren't alone. The downturn of the economy have left many homeowners unable to pay their mortgage. An Certified Short Sale Arizona real estate agent can help you determine if a short sale may help you get out from under the cloud that is hanging over you. Hardships often happen without warning; divorce, death or loss of employment can leave you stressed financially, and you get months behind on your mortgage. A short sale provides hope where you may have believed none existed.

You may have heard stories about the short sale process, and how lengthy it can be. While this is sometimes true, an experienced Short Sale Phoenix realtor can explain the entire process, and help you find a buyer quickly. With full support and their knowledge, make all aspects of the process simple and easier. In the end, you will realize that the length of time it took to sell your home was well worth the effort.

As a homeowner, you want to avoid foreclosure if at all possible. Your credit will be completely ruined and unable to purchase another property of your own for approximately 5 to 7 years. If you do decide that a short sale may be appropriate for you, it will affect your credit – but it won't completely destroy it as foreclosure does. Most likely, you will be able to buy another home in just two years or less. You will also avoid the stigma often associated with foreclosure.

A short sale simply means that you sell your home for an amount less than what is owed on the home. Your lender will have to decide if this is feasible, and approve any buyer offers. While the lender would absolutely rather have some money on your property instead of having it sit empty, they want reasonable offers. Home sellers are required to submit a hardship letter, detailing why you are in financial trouble (loss of job, divorce, etc.)

As you can clearly see, there is a good deal of work and detail involved in the short sale process. This is why you need the services of a professional and established Arizona short sale realtor with extensive knowledge in the process. You want someone who understands every detail of the process, and who can advise you as well. Real estate agents often have several buyers looking for properties, and can help match your home with the perfect buyer. This simplifies everything, so that you can get out from under your mortgage and go forward with life. If you are a Phoenix homeowner who cannot pay your mortgage, contact a Certified Short Sale Phoenix realtor today to learn more about the short sale process!

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

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