Arizona bank owned homes, Arizona foreclosure, Arizona HUD homes, Find Arizona Foreclosures for sale, Search all Arizona foreclosures,
HOW DOES A SHORT SALE AFFECT MY CREDIT?
CAN I BUY A HOUSE AFTER I SHORT SALE MY HOME?
With the state of the economy being what it is today more people are being forced to make a decision about selling their home through a Short Sale or going through the painful ordeal of a foreclosure. Are you like many other American’s out there wishing you could just find sanity in a pill form? Unfortunately I haven’t found the answer or solution to that…. But have found the solution to
Closing A Short Sale in 30-90 DAYS. YES 30 DAYS! Don’t believe us?
We have sold over 300 Homes email us if you would like to see the list.
A Short Sale simply stated is listing your home at today’s market value or even slightly less which is commonly known as being upside down. The lender then must agree to accept this as full payment of the loan even though more is owed on the mortgage and it is not guaranteed this will happen.
This being said, a homeowner may ask why they should consider a Short Sale and there is one answer which is your Credit Score. In the past the homeowner had to be behind in payments before a Short Sale was even looked at but that has changed. Though it is difficult to negotiate a Short Sale when your payments are current it can be done. A Short Sale does NOT affect your credit rating in a negative way; it is the late payments and foreclosures that knock your score down. A foreclosure will generally take 200 to 300 points off your credit report and you will not be able to obtain a home loan for anywhere between 24 to 72 months; it usually is in the 5 to 7 year range before you will be able to obtain any type of decent interest rate.
If you are fortunate enough to be able to negotiate a Short Sale before you fall behind on your mortgage payments you will be able to obtain a loan just as though nothing has happened. Most people find themselves behind in payments before trying to make the painful decision on what to do next. If you are behind 90 days and get your home sold through a Short Sale rather than letting it go to foreclosure you should be able to obtain a home loan within 24 months which is certainly much better than the 5 – 7 years for a foreclosure. Again, if you are able to do a Short Sale before falling behind in your payments you credit reports stays intact. It is difficult knowing that you are not going to profit by dollars in the pocket from the sale of your home but being able to protect your credit score is an investment in the future.
Evan Carr and John Hall and Associates will be able to help you with the many questions you have regarding listing your home as a Short Sale. There is a lot to negotiate with lenders when selling your home this way and Evan can make this as smooth a transaction as possible... Save your time and energy! You will help keep your sanity and your credit! 2 things that right now seem to be hard to find in this market!
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About Evan Carr
Buy a Foreclosure in Arizona
Bank owned/ Foreclosure transactions can present a bewildering array of financial, legal, and emotional decisions. That's where we come in! Through our strong relationship with over 25 bank owned home asset managers, we have gained extensive market knowledge and experience in handling these transactions. You have a great advantage having us on your side given our extensive professionalism and communication directly with asset managers. As the saying goes “It is always best to get it straight from the horse’s mouth” We can ensure a smooth and most of all enjoyable process for you-from helping you find just the right home to negotiating the right price, to insuring a smooth closing.
Your John Hall and Associates Foreclosure professional is a great resource. He or she knows the local area, including home values, taxes, utility costs, and school data. Your agent will help to familiarize you with the processes involved in buying a foreclosure, alert you to potential risks, help you determine how much house you can afford, explain alternative financing strategies, as well as serving as your advocate during the negotiating process.
As your single point of contact, your John Hall professional can manage the entire transaction, including coordinating inspections, keeping in touch with the bank, managing the documentation for the loan process, monitoring deadlines associated with contingencies, providing applicable paperwork, estimating closing costs, and helping prepare for a smooth and pleasant closing. Do you feel overwhelmed just reading all of that? Let us take care of it all; all you need to focus on is picking out paint colors for your new home!
Don’t miss out on this market! Always remember “Only the wisest and the stupidest of men never allow change, fate leads the willing, and drags along the reluctant.”
Start your search with a Foreclosure specialist today!
Call, text, or email today!
602-357-0030
Email: info@evancarr.com
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