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Archive | Short Sales

News From CoreLogic Released 09/13/2011

CoreLogic is widely recognized as a leader in providing financial and property information to consumers. They are highly regarded and often quoted as being a source for accurate industry data. Yesterday, they revealed a report stating that 22.5% of all residential mortgages are UPSIDE DOWN. Well, that sounds scary enough…but looking at the Arizona  market […]

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Phoenix, AZ Short Sales…Arms Length Transaction

If you do not know what a short sale is…then please, first read this post describing the process. As part of the agreement between the lender and the seller attempting to short sale their home in Phoenix , AZ,  is often something termed an “Arm’s Length Affidavit”. An arms-length affidavit is a document created by the […]

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Pitfalls, Perks, Ins and Outs of Short Sales

It is common here…and becoming more common in other states. What? Short sales. So first, let me start by stating the common definition of a “short sale”. The situation is this. Someone (we will call them the “owner”) purchased a home and financed it through a bank (we will call them the “lender”). Or, another […]

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Fannie Mae Wants You To “Know Your Options”

Many folks are facing financial difficulties be they they short or long term. If that is YOU…you should start exploring your options TODAY! Even if you haven’t yet missed a mortgage payment, but are worried you might fall behind soon, now’s the time to start t learning about your options. You may be eligible to […]

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Strategic Foreclosure…A Good “Strategy”? Or Not?

Homeowners have found themselves in foreclosure for a number of reasons. Some lost their jobs–the national unemployment rate remains in the double digits–and had no way to make mortgage payments. Here in Arizona we have one of the highest rates of unemployment anywhere. Some people simply purchased properties they could never really afford. Some got […]

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HAFA? What The Heck Is THAT and Why Should You CARE!??

Well…let’s start by defining what HAFA means. It stands for Home Affordable Foreclosure Alternative Programs. It is basically divided into four separate programs. 1. Home Affordable Refinancing Option (I am not addressing this option in this post as most folks in our market exceed this requirement… “The amount you owe on your first lien mortgage […]

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