Owe more than your home is worth? You are not alone. In todays housing market nearly half of the homes in Arizon are worth less than what the homeowners owe.
If you take a closer look in the East Valley we are seeing a record number of short sales in Gilbert, Chandler, Mesa, Queen Creek and several other surrounding cities. In many situations the home owner is having a difficult time keeping up with the payments or is facing a possable job transfer.
If you are in a situation where you are “upside down” in your home loan but for any reason need to sell your home, a short sale may be the best answer.
A short sale can be a big help and relief. A short sale, while it does have a negative impact on your credit, is not as harsh as a foreclosure or bankruptcy. Foreclosures and bankruptcies can have a big impact on your credit score, and can limit your ability to purchase another home or vehicle.
A short sale on the other hand, is an offer that the bank accepts and agrees to take less than what is owed to them. This will typically lower your credit score less than a foreclosure and for a much shorter amount of time.
At presidential Realty we strive to set a professional standard when it comes to short sales. With an excelent sucess rate we have been able to help families get a new start.