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What Is A Short Sale - Benefits To Sellers
What Is a Short Sale? A "short sale" is an agreement with your lender to accept less money than they're owed as full payment for your loan.  This solution often makes sense when you owe more than the property is currently worth.  Basically, you have no time or equity to sell your home traditionally because you cannot afford to pay a Realtor and cover your closing costs!
There are multiple companies and realtors that will help you short sale your home.  The Arizona Short Sale Office, specialize's in short sales.   Most companies will work with the bank to get a lower pay off on your loan approved, this is what you call a short sale.  The benefits to the bank are many, most importanly it saves them from having to go through the expensive and time-consuming process of a foreclosure.  Short sales benefits the seller, by allowing the homeowner to minimize the credit impact of a foreclosure. Foreclosures are usually scored worse than a bankruptcy.
You must ask, Does My House Qualify?
If you are behind on payments, can show a financial hardship, owe your lender(s) as much or more than your house is worth, then you possible could qualify for a short sale.  Request ... more

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