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What to Expect During a Short Sale

What to Expect During a Short Sale

So you’ve decided that a short sale is the best option for you? If you’re unsure or haven’t considered the ramifications, please read “Should I Sell my Home as a Short Sale?” Once you have made the decision, there are a few steps you should take.   Hire A...
Tax Consequences of Foreclosures or Short Sales

Tax Consequences of Foreclosures or Short Sales

Is your bank threatening to foreclose? Are you left owing more than the house will sell for? Depending on whether or not your loan is recourse or non-recourse, your tax consequences will be very different. Non-Recourse Loans Most mortgage loans in Arizona are...
Short Selling: FHA, VA and Conventional Loans

Short Selling: FHA, VA and Conventional Loans

The short sale process varies greatly depending on what type of loan you have. In fact, the timing of when to submit your loan documents changes based on your loan type.   FHA Loans FHA loans were certainly not in the majority of the loans being shorted initially....
How to Preserve Your Credit During a Short Sale

How to Preserve Your Credit During a Short Sale

A short sale is going to do some damage to your credit. However, it doesn’t have to be devastating and there are ways to minimize that damage. If you can complete the short sale before the bank initiates foreclosure proceedings you are much better off. However, even...
HAFA Short Sales: What Are They?

HAFA Short Sales: What Are They?

The Home Affordable Foreclosure Alternatives (HAFA) program has three options to help you get out of your mortgage. The first is a loan modification program, to help you stay in your home. The second is a short sale, where your mortgage company agrees to let you sell...
Benefits of Selling Your Home as a Short Sale

Benefits of Selling Your Home as a Short Sale

As the housing market has softened and in many cases, imploded, a lot of people have found themselves facing the unthinkable: foreclosure. People who in normal times would just sell their home and downsize when things got tough are now left facing the reality that...

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