5 Steps for a Successful Arizona Short Sale:
Lenders and the federal government, prompted by the sheer volume of loan modification and short sale requests, have overhauled their systems and programs, making the foreclosure avoidance process much easier than in the past.
If you are considering short selling your home to avoid the financial and emotional fallout of foreclosure, you should be aware of the five steps you should take to increase your chances of a successful Arizona Short Sale transaction.
First, do you qualify for an Arizona Short Sale?
- Have a verifiable hardship, like unemployment, medical bills, or relocation
- Must have a monthly income shortfall
- Be insolvent (you have no cash or assets that can be sold to pay down the mortgage), or headed towards insolvency
If you meet these qualifications, follow these five steps to a successful Arizona short sale:
- Contact me so we can identify your servicer, fill out an Arizona short sale packet for the lender, and assemble all the required information needed to list your home for sale
- Gather financial information (i.e., bank statements, pay stubs) from at least the last three months
- Keep your house in show ready condition for showings, and make as many repairs as necessary you can afford
- Expect the lender, junior lien holders, and private insurance companies to request more paperwork, and try to gather requested information quickly to ensure transaction efficiency
- Set realistic expectations and work with me, the lender, and the buyer to the satisfaction and benefit of all parties involved
For more information about how the Arizona short sale process works, or about any other foreclosure alternatives you may qualify for, call me today at 480-270-5201 or contact me here. I can help you alleviate the burden the threat of foreclosure brings, and we can develop a strategy to help you breathe a little easier.
For more online information about short sales, please visit our Arizona Short Sale Information Center.
IMPORTANT GOVERNMENT DISCLOSURE: You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender (or servicer). If you reject the offer, you will not have to pay us for our services. The above brokerage is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.