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Short Sale Information and Frequently Asked Questions!!
 
There continues to be a TON of misinformation and false expectations out there about "short sales."  Following is a very thorough and accurate breakdown and description of the short sale process.  It is not for the faint of heart, is not easy, is not quick, and is not successful in the greater Phoenix area about 90% of the time.  Read David's article and you'll better understand why.

 

We are all doing a lot of short sales right now so I came up with answers to some frequently asked questions.

What is a Short Sale?
            A short sale is the process by which a homeowner can sell a house for less money than he actually owes on the mortgage(s).  This is done by the buyer or investor providing proper documentation to the mortgage lenders to convince them to reduce the mortgage balance to allow the sale.  The mortgage lender (or bank) actually takes a loss (or write-off) on the mortgage because the value of the home has fallen below the mortgage balance AND the homeowner is in a poor financial condition that will not allow him to continue to pay on time.
            If the bank ... more

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