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Are you under water with your mortgage?
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602-697-0777

Where do you start?
At this point there is so much information out there that it is hard to know where to begin? If you are having trouble making your payments the last thinig that you want is to have to face all of the misinformation that is being put out there. You may have heard that foreclosure is your only option. NOT TRUE!

Some lenders are willing to entertain a Short sale. What exactly is a short sale? A short sale is a negotiationo between a homeowner and their mortgage lender resulting in the lender accepting less than they are owed for an outstanding loan.

What is the Difference between a Short Sale vs. Foreclosure?

What does it mean when a homeowner is "short" on the closing?
When a borrower owes an amount on the property that when combined with closing costs and commissions, is higher than the current market value.

A short sale occcurs when:
A negotiation is entered with the homeowner's mortgage company or companies to accept less that the full balance of the loan at closing. A buyer closes on the property and the property is sold "short".

A foreclosure occurs when:
There is a legal proceeding by the lien holder in which they take back the property in order to recover the amount that is owed by the homeowner.

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