Arizona Short Sale Help

Who pays Realtor Commissions in a Short Sale?

This is a very important, and often confusing… In most Short Sales, your lender will authorize in their Short Sale approval the payment of Real Estate Commissions that are “customary” in the area. This is one of our most asked questions… most of our clients “think” they have to pay the commission that their listing [...]

If I do a Short Sale, how long until I can buy another house?

If I do a Short Sale, how long until I can buy another house? Fannie Mae on conventional loans up to $417,000 has finally addressed the issue of buying after a short sale. The following guidelines are effective after July 1, 2010: • Two year wait with 20% down • Four year wait with 10% [...]

What is Deed in Lieu of Foreclosure?

What is Deed in Lieu of Foreclosure? A deed in lieu is a part of your mortgage that you, the borrower, give up all interest in the real property to the lender to satisfy a loan that has defaulted or to prevent foreclosure proceedings. A deed in lieu is just one option that you may [...]

Can I do a Short Sale with a FHA, HUD or VA Mortgage?

Can I do a Short Sale with a FHA, HUD or VA Mortgage? Yes, our experience shows that we can Short Sale a home that has any of the above mentioned loan types. Each type of loan, as well as each bank, have different criteria and systems in place for accepting a Short Sale.

Almost 7 1/2 Million “troubled loans”

According to Lender Processing Services (LPS), a leading source of mortgage performance data and analytics, there are close to 7 1/2 million non-current and/or REO (bank owned) loans in the market place. LPS reported this number based upon data from the end of March, 2010. The report had the foreclosure inventories at 3.27% more than [...]