5 Ways To Avoid Foreclosure in Phoenix, AZ

phoenix_foreclosure5 Ways to Avoid Foreclosure!

In the news, there is talk of a housing recovery. Experts feel more optimistic about the state of housing industry in America. However, if you or someone you know is one of the millions of homeowners who is stuck with a home on which you owe more than the property is worth, the feeling of helplessness can be overwhelming and frustrating.

Many people don’t realize that just because they are in danger of losing their home to foreclosure doesn’t mean they have to wait around for it to happen. With help, they can take matters into their own hands.

YOU HAVE OPTIONS!

 As a Certified Distressed Property Expert (CDPE), I make it my business to know all of the ins-and-outs of the options available for people who are in danger of losing their homes and help them meet challenges head-on.

Take a look at the information on this site and then contact me today to schedule a free, confidential consultation.  By the way, a great starting point is to find our what your home is really worth in today’s market.  You will likely be shocked to find out how drastically things have changed for the better.  Many people I provide this free service to have found out the are no longer “upside down” or have “negative equity” in their homes.

Just drop me your email address below and I’ll direct you on how to get one of our Maximum Home Value Audit reports.  It’s FREE and there is no-obligation.

Joe Martin
480-270-5201
joe [at] homestyleteam.com

Dealing With Foreclosure Understanding The Process So You Are Aware Of Your Rights

There are many reasons why homes go into foreclosure. Dealing with foreclosure is going to be difficult no matter what the cause. So if you’re facing a foreclosure it’s crucial that you understand as much as possible about the process and what your options are.

Why do homes go into foreclosure?

When a homeowner is late with a certain number of payments or stops making payments, the lender has the right to start the foreclosure process, depending on the terms of the mortgage agreement. It’s a good idea to be aware of what this “magic” number is so you can do whatever is necessary to avoid reaching it.

How long can homeowners remain in their homes once they go into foreclosure?

The law varies from state to state, so there is no set rule. In some states, homeowners can remain in the home for about a year. But in other states, the time frame may be as short as a few months. And in reality, there are some homeowners who don’t move out even when their home has gone into foreclosure. In that case, they may decide to wait for an eviction notice before leaving.

What are redemption laws and what is a period of redemption?

When a home is foreclosed upon, many states allow a set period of time where the homeowner can repay any overdue payments on the mortgage. This is a redemption law and what it means is that the homeowner is able to reclaim his property if he meets the conditions set out. These conditions include repaying all monies owed within a specific time frame. It’s even possible to use the redemption law to reclaim a home that has been sold at auction.

What is meant by short sale and how does it work?

With a short sale what happens is that the property is sold but the net gain is less than the total amount owed. The lender though agrees to take the lesser amount. But, in some cases, the seller may still be on the hook for the difference between the total owed and the proceeds of the short sale. The advantage to the seller is that the foreclosure won’t show up on their credit report. The disadvantage is that you have to pay the difference, even though you’ve sold your home.

What is deed-in-lieu of foreclosure?

In this case the homeowner agrees to give the lender the deed to the house. In return the lender forgives the mortgage and cancels the foreclosure proceeding. You should be aware that this type of agreement will affect your credit to pretty much the same extent as a regular foreclosure.

Being informed may help when you are dealing with foreclosure, so you are able to decide on your best options.

If you’re dealing with foreclosure learn about 6 practical steps you can take to avoid foreclosure. If it’s too late for that, find out how to stop a foreclosure by going to http://getforeclosurefacts.com

Ask Joe Weekly Vlog–How Do I Short Sale To Avoid Foreclosure?

A good majority of Phoenix homeowners never attempt a short sale prior to going into Foreclosure. This weeks topic for Ask Joe Weekly Vlog focuses on this troubling statistic in an effort to help Phoenix area struggling homeowners understand their options to avoid foreclosure and the benefits of a short sale.

If you have a real estate question don’t forget to Ask Joe here.

httpv://www.youtube.com/watch?v=KyHDAIxAssc