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Short-sell strategy may fit mortgage crisis David van den Berg
The Arizona Republic
Jan. 3, 2008 07:17 AM
Thanks to recently passed federal legislation, getting out from under mortgages with a short sale is easier in the troubled Southeast Valley real estate market.
In short sales, homeowners sell their houses for less than what they owe.
The lender often forgives the difference because it would get more from a short sale than a foreclosure, said Randy Kutz, co-owner of Phoenix Heritage Real Estate Group and Arizona Short Sale Experts. Avoiding foreclosures helps homeowners, too.
Read entire article here... Troubled homeowners are finding a new way to sell
Catherine Reagor
The Arizona Republic
Jan. 3, 2008 07:17 AM
A growing number of homeowners behind on their mortgage and facing foreclosure are finding a way to sell despite the glut of Valley homes for sale.
They are turning to "short sales," which are similar to regular home sales except a deal is worked out in which the lender accepts what the house is appraised for or what it will currently sell for instead of what is owed on it.
Read entire article here...
Phoenix Heritage Real Estate Group is featured in these Arizona Republic articles as the local Short Sale Expert offering home owners a real Short Sale Solution.
If you or someone you know is facing hardship that does not permit them to keep making their mortgage payment and they owe more on their house than the market will pay, contact us today. We have a proven success rate in negotiating with banks to get the amount owed on a home reduced to a lower price. Check out the Suggested Reading for Sellers and the Seller Reports section of our website to learn more about Short Sale Solutions.
Buyers Alert! We also have several GREAT DEALS on pre-foreclosed properties. Our list is constantly being updated. Be sure and check back often if you want to stay current on available Short Sale properties. Phoenix Area Market Data Reports Now Available The Phoenix Area Housing Market Data is now available for download. You can quickly gain access to monthly, quarterly and yearly data produced by the Arizona Regional Multiple Listing Service (MLS).
Click here to get your market trend report. |
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