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hud: Interested in Distressed Properties? - 01/26/12 12:50 AM
Over half of all of the homes for sale in the Phoenix Metro Area are distressed.  But what does that mean? Are buying these homes even a good idea?
Distressed homes have either gone through foreclosure or are put on the market by the homeowner as a “short sale”. A short sale means that the homeowner can no longer afford to pay the mortgage on their home, and the mortgage is greater than the current market value of the home.  The homeowner’s lender then agrees to accept less than the outstanding loan instead of going through the foreclosure process.
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Gina McKinley, ABR, CIAS, CDPE, CRS, SFR ~ Chandler, Gilbert, Mesa, & Scottsdale

Chandler, AZ

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RE/MAX Masters

Address: 2390 W. Ray Rd, Suite 3, Chandler, AZ, 85224

Office Phone: (480) 821-5700

Cell Phone: (480) 600-1129

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