Posts Tagged ‘catherine reager’

This has got to be one of the most commonly asked questions we get when someone is considering doing a short sale.  The answer is complicated and depends on each individual’s situation.  I had a few of my clients call me after seeing/reading the following article- click here to read: Article in AZ Central regarding people owing $ after a short sale

The following questions help us give people answers on what to expect if they are going to apply to do a short sale- see here: Answer a couple -’s here to see if we can help you

Once we know whether the loan(s) in question were used to buy the home; or cash was taken out and used for other things- we can usually point our clients in the right direction to consult with other professionals depending on their concerns.  We always recommend talking to attorneys and/or accountants since everyone’s situations are so unique.  We are lucky that we are in Arizona, because our laws here offer protections against judgments from the banks in many cases- whereas in other states, there are no legal protections regardless if the loan was used just on the home or not.

The biggest thing we can do to help is make sure in the end, that our clients have read and understood the terms of their approvals to do a short sale so that there are no surprises down the road.  Please call us to discuss your personal situation; we offer no cost consultations free of any obligations- 480-243-4242.

A trend has been happening out there in the rental market, click photo above to read article by Catherine Reager on Arizona Central.  Recently I attended a seminar with Mike Orr of the Cromford Report and he said the same thing… due to the number of families either seller their home short after having lates on their credit or losing their homes to foreclosure, there is a huge need for rental homes. 

If you are an investor, these families would make great tenants because they’ve already owned a home and know how to care and are willing to pay more than before (which is still less than what their previous mortgage was in most cases) so they can still live the same quality of lifestyle that they had before when they were homeowners. 

Luckily for our clients, we have a great partner that diligently works hard to place our clients in rentals if they are not able to purchase right after a short sale.  A Short Sale Myth out there is that you have to damage your credit to prove your hardship and thus while you can short sale, you can’t purchase… 

A recent trend we are seeing with the Short Sale friendly lenders is they will allow someone current on a mortgage to still short sell their home; the catch being is that they usually need to participate in the loss at the closing table- for some it’s worth it. 

If you would like to explore your options with us on your current situation or that of someone you know, please contact us here or call 480-243-4242 to have a compassionate and confidential conversation when the time is right for you.