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www.YourShortSaleAgents.com

www.YourShortSaleAgents.comwww.YourShortSaleAgents.comwww.YourShortSaleAgents.com

877-474-2550

helping you understand your options!

helping you understand your options!helping you understand your options!helping you understand your options!

Educated & Certified Agents! 

877-474-2550

helping you understand your options!

helping you understand your options!helping you understand your options!helping you understand your options!

Educated & Certified Agents! 

Video

Check out this great video

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AVOID FORECLOSURE

 


These  days more homeowners are facing a tough decision about whether  foreclosing is the only option they have left. Deciding to foreclose on  your home will have implications on your family and your credit for the  rest of your life. When a homeowner can no longer make payments to a  lender for a home, the lender may repossess a home in the process of  foreclosure, usually with the purpose of reselling it, to recover the  amount owed on the defaulted home. Homeowners facing foreclosure  proceedings will face lasting implications.



1)  Your credit scores will be significantly lowered, sometimes by more  than 300 points. This is the single most devastating mark on your credit  report and will affect all of your future credit possibilities.

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2) A foreclosure listed on a credit report is nearly impossible to have repaired and will  most likely remain a permanent mark on this valuable personal report.

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3) Your security clearance may have a direct effect from a foreclosure.

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4) In order to  recuperate money they did not receive during a bank sale of the  property, a lender may seek a deficiency judgment against you to obtain  the balance.

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5) Your  family will have to relocate.This is always a disturbance for children,  marriages, careers, and other important aspects of your life.




SHORT SALE EXPLAINED

What is a Short Sale?

WHAT IS A SHORT SALE

 A  short sale can be an excellent solution for homeowners who need to  sell, and who owe more on their homes than they are worth. Since there  is no out of pocket expense this program makes it more attractable to  most home owners.  In the past, it was rare for a bank or lender to  accept a short sale. Today, however, due to overwhelming market changes,  banks and lenders have become much more negotiable when it comes to  these transactions. Recent changes in corporate policy and the  administration have also improved the chances of getting a short sale  approved. 

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But to be technical, here's a more official definition:

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  • A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
     
  • A short sale occurs when a negotiation is entered  into with the homeowner's mortgage company (or companies) to accept less  than the full balance of the loan at closing. A buyer closes on the  property, and the property is then 'sold short' of the total value of  the mortgage.
     

For homeowners to qualify for a short sale, they must fall into any or all of the following circumstances:

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  • Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
     
  • Monthly Income Shortfall – In other words: "You have  more month than money." A lender will want to see that you cannot  afford, or soon will not be able to afford your mortgage.
     
  • Insolvency – The lender will want to see that you do  not have significant liquid assets that would allow you to pay down your  mortgage.
     

This seems simple enough, but it is a complicated  process that takes the expertise of experienced professionals. With 100's  of Default & Short Sale transactions completed put our experience to work for you.  As always this service has no out of pocket expense to you. 

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If you have questions or feel you may qualify for a short sale, please contact us for a free consultation.

Understanding your options now could mean all the difference in the world.

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Benefits of a Short Sale

Eliminate or reduce your mortgage debt

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Avoid the negative impact of FORECLOSURE.

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May be eligible for relocation from $1500 in upwards of $15000 depending on the lender and case. 

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Start repairing your credit sooner than if you went through a foreclosure

May  be able to get a Fannie Mae mortgage to purchase a home sooner (in as  little as 2 years) than if you went through foreclosure (up to 7 years)



HOW IT WORKS

WHAT IS A LOAN MODIFICATION


Under  this option, you reach an agreement between you and your mortgage  company to change the original terms of your mortgage—such as payment  amount, length of loan, interest rate, etc. In most cases, when your  mortgage is modified, you can reduce your monthly payment to a more  affordable amount.

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A modification may be an option if:


  • You are ineligible to refinance
     
  • You are facing a long-term hardship
     
  • You are several months behind on your mortgage payments or likely to fall behind soon
     

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What is a Loan Modification

How does it work?

A modification involves one or more of the following:


  • Changing the mortgage loan type (e.g., changing an Adjustable Rate Mortgage to a Fixed-Rate Mortgage)
     
  • Extending the term of the mortgage (e.g., from a 30-year term to a 40-year term)
     
  • Reducing the interest rate either temporarily or permanently
     
  • Adding any past-due amounts, such as interest and  escrow, to the unpaid principal balance, which is then reamortized over  the new term
     

Take Action

Gather  your financial information—Make sure you have your basic financial and  loan information on hand when you call your mortgage company.  You’ll need:

  • your mortgage statements, including information on a second mortgage (if applicable);
     
  • your other monthly debt payments (e.g., car or student loans, credit card payments); and
     
  • your income details (paystubs and income tax returns).
     

Explain your current situation—Be ready to outline  your current hardship and explain why you are having trouble making your  mortgage payment and if this is a short-term or long-term problem. Your  mortgage company will need to understand the reasons why you are having  difficulty in order to find the right solution for you.

Contact your mortgage company —Tell  them you are interested in a Modification and you want to see if  you qualify. To find a qualified housing counselor  and more information  about  making home affordable program click here Making Home Affordable


Contact us and get the process started!


Meet Your Agents!

TAMRA LEE ULMER

TIFFANY MCDANIEL

TIFFANY MCDANIEL

Owner/Broker

Default & Short Sale Specialist

TIFFANY MCDANIEL

TIFFANY MCDANIEL

TIFFANY MCDANIEL

Realtor & Consultant

Default & Short Sale Specialist

Call or Visit

Your Short Sale & Loan Modification Experts!

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