Chandler AZ

Approved Short Sale

August 27, 2011

Yesterday, I received the Short Sale Approval from Desert Schools Credit Union on a HELOC loan.  This is always great news for a short sale Seller. As a side note, credit unions are the toughest  lenders to complete short sales.  The credit unions have what they call “members”, everyone who has an account is a [...]

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Short Sale Approval

August 25, 2011

If a homeowner is selling their home as a short sale, how do they go about getting the short sale approved? In order to obtain approval from the Seller’s Lender, the Seller must have a buyer for the property and agreed upon terms.  This usually happens once the home is listed by a Realtor, a [...]

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Short Sales & HELOC Loans

August 23, 2011

One of the main reasons many homeowners choose to short sell their home is because of a HELOC mortgage.  A HELOC (home equity line of credit) is a 2nd mortgage taken out on their home, generally during the boom, when everyone had equity.  This loan was basically a credit card that could be spent on [...]

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Lender Short Sale

August 1, 2011

There are tons of misconceptions when it comes to Short Sales.  Here is the quick and dirty on Short Sales: Question: What is a short sale? Answer: A short sale is a real estate sale, where the seller owes more on the home than the home is worth (they are underwater).  Their Lender approves the [...]

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Short Sale vs. Foreclosure

May 16, 2011

Some Realtors would say “avoid foreclosure at all costs”.  I do not prescribe to this philosophy.  In some cases foreclosure results in a better position for the homeowner.  However, we always suggest trying the short sale first- most homeowners can avoid foreclosure successfully and create a fresh financial start for themselves. Short Sales are best [...]

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