Arizona Short Sale Help

How long does my lender take to foreclose after I miss my first payment?

How long does my lender take to foreclose after I miss my first payment? Generally speaking in the state of Arizona, most lenders file notice of defaults within 90 days of missing your first payment. We have seen lenders not file for over a year and some as little as 30 days. Since we don’t [...]

Can I be sued by my lender?

Can I be sued by my lender? State statues in Arizona are ambiguous and have not been tested in court. Although deficiency liabilities, which could result in lawsuits, happen in some cases. We recommend all our clients consult with a Real Estate Attorney. We can send you a few choices, just let us know. Attorneys [...]

What is the success rate for a Short Sale?

What is the success rate for a Short Sale? The market average is less than 30%… At our office, we close them at a rate better than 60%.

Why do banks agree to complete the Short Sale?

Why do banks agree to complete the Short Sale? Banks never, ever… want to foreclose on your property. We could explain this, but it would take 65 pages and 9+ hrs… Banks lose on avg 28-36% more on a foreclosure VS. Short Sale. Along with this, when a Short Sale is closed, here are a [...]

What is the Mortgage Debt Relief Act of 2007?

What is the Mortgage Debt Relief Act of 2007? The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief. This provision applies to [...]