Short Sales: One Way To Avoid Foreclosure

Frustrated with your Mortgage Company?

“You Can’t Depend on A Regular Realtor to do what SRE does!”

- Mike (SRE Client)

FORECLOSURE IS NOT YOUR ONLY OPTION!

If you are: Making less money? Lost your job? Laid off? And behind on your mortgage?

FORECLOSURE IS NOT YOUR ONLY OPTION!

Hi, I’m Charlie Allred with Securerealestatephoenix.com. I’m here to advise you of your options.Did you know? You don’t have to be behind on your mortgage or in foreclosure to complete a short sale. Futhermore, in Arizona 60% of all homes for sale are Short Sales. Most importantly: Let me ask you. What is your peace of mind worth? A phone call? I will make it easy on you, opt in above, by submitting your name and email. Why not take a few minutes? Take a look at our site, watch our videos and get to know us. Allow yourself to speak with me and together we will identify the best options available to you given your circumstances and custom tailor a solution.

SHORT SALE SELLER

SHORT SALE QUALIFICATIONS

QUALIFICATIONS FOR A SHORT SALE

1. Owe more to your lender than the home is currently worth (or could sell for in today’s market)
2. Unable to pay your mortgage/ struggling to pay your mortgage

LENDERS REQUIRE THE FOLLOWING:

1. Hardship- loss of job, less income, more expenses- some reason that you can no longer pay your mortgage
2. Offer from a buyer- Once your home is listed- the Realtor must obtain a fair market value offer from a buyer
3. Deficiency- the sales price is less than is currently owed on the mortgage

AVOID FORECLOSURE- RAMIFICATIONS OF A FORECLOSURE

The top reason to complete a short sale is to avoid foreclosure. Foreclosure can affect your life in more ways than merely taking the house.

Foreclosure can cause the following:

• Cannot purchase another home with financing for up to 7 years
• Your other debtors can raise your interest rates to the maximum: this includes car loans, student loans any other debt
• You could lose government clearance

HAFA RULES

What is HAFA?

HAFA BENEFITS & QUALIFICATIONS

HAFA is the Home Affordable Foreclosure Alternative Program, this is a government plan to help homeowners gracefully exit their homes. HAFA was accepted by the major Lender/ Lien Holders on 8/1/10. Not all homeowners qualify for this plan, we encourage our Sellers to volunteer for the program.

• Must be a hardship
• Short Sales must be Arms Length
• Lienholders must accept full satisfaction in short payoff- as the Seller this means on your credit it should be reported as “paid in full”
• Lien holders will accept reasonable & customary costs
• Short sale with no promissory note- as the Seller this means you will not owe your Lien holder additional money after the short sale
• Short sale with no deficiency judgment- as the Seller this means the Lien holder cannot sue you for the deficiency
• A full release of all current or future liability
• Homeowner must volunteer to join the program

HAFA BENEFITS

• Up to $3,000 to the Seller for moving costs- however, the lender can use this toward delinquent HOA fees and other fees owed
• Full release of Seller’s liability
• No promissory note for the Seller- Seller walks away not owing the Lien holder anything
• No Deficiency Judgement- the Lien holder is agreeing not to sue the Seller for the deficiency amount

OTHER SHORT SALE INFO

7 Questions your Realtor should ask you- Do not work with anyone who hasn’t thought of your future!

Arizona Short Sale Tax Implications

Creating a Successful Short Sale- Video

Investors: Short Selling an Investment Property

Luxury Home Owners: Short Selling Luxury Homes

7 Questions to ask yourself if you can’t afford your home

Short Sales, Credit & the Aftermath

Saxon Mortgage -what to do if you’re behind

US Bank Short Sale Process

Desert Schools Credit Union Short Sales

Bank of America Short Sales

What can a Realtor do if you don’t want to sell your home

Foreclosure vs. Short Sales

SHORT SALE TESTIMONIAL

ANOTHER SHORT SALE TESTIMONIAL

ANOTHER TESTEMONIAL

We so appreciate all of your hard work on our behalf. Thanks for making the sale of our home a painless process!

All the best, mary