San Tan Valley Short Sales

San Tan Valley Short Sales - there is no magic solution to being underwater on a home. But there are options. If you are seeking options to get "out" from underneath a home with limited or no hardship please consider the following.

1. Hardship Letter - Draft one even if in your eyes you don't have an extreme hardship. An example of an extreme hardship would be that you had heart surgery with horrible complications and ended up on life support for 3 weeks with a 6 month long recovery. If your hardship is less then that, still sit down and write out your hardship. Make it honest, make a strong case and make it heartfelt. Even if you don't think you have a hardship, that doesn't mean that your loan servicer will think that once they see your situation on paper.
2. Get tax advice - There are more tax implications if the property is not your primary residence. Seek a competent tax advisor/CPA for implications on both primary and secondary residences. Principle reductions, loan modification & strategic and regular short sales all MAY have tax implications.
3. Will the loan servicer/bank come after me for the balance? Any new terms given to you, (short sale approval letter, loan modification agreement) by the your lender should be careful looked over. If it's not clear in the those new terms, have your lawyer or real estate lawyer read over the new terms. Some of the new government programs life HAFA Short Sales and FHA/HUD Pre Foreclosure have terms stated like: You will not be asked to sign a promissory note to pay back the balance of the shorted funds as a part of their program.
4. Hire an experienced San Tan Valley short sale Realtor - Check their track record, can they provide you with a list of successful closed short sales? Have they worked with your lender before? Do they know the different short sale programs offered by your lender/government. Do they know how to price a short sale? Do they know how to escalate a file?

Please feel free to contact our experienced Short Sale Realtors if you have questions on short sales. Email: PhoenixMetroGroup@gmail.com or call 866-602-4601.

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We service, Chandler Az, Gilbert AZ, Scottsdale, Phoenix to San Tan Valley and many others.