short sale: Is a Short Sale Right for Me? - 01/15/13 11:45 PM
"I'm not sure if a short sale is for me......maybe I should just let the home foreclose"
 
1.  A short sale is better than a foreclosure. 
* You will be able to borrow and buy again sooner. Lenders have longer waiting periods for those with foreclosure on their records. Settled loans indicate to a creditor you were cooperative and worked out a solution.
* Employers often run credit checks prior to hiring employees. You could be turned down for a job in favor of someone with stellar credit.
* Foreclosures can affect those with security sensitive employment (such as security … (0 comments)

short sale: Mortgage Settlement Program-How Arizona Homeowners Will Benefit - 02/10/12 10:00 AM

Last night Arizona was awarded $1.6 Billion from a major class action lawsuit settlement involving 5 of the largest banks in America: Wells Fargo, Bank of America, JPMorgan Chase, CITI and GMAC/Ally.
They were sued for their involvement in illegal foreclosures and abuse (including ROBO signing) and are now required to shell out damages to the tune of approx $26 Billion. 
Where will the 1.6 Billion for Arizona end up?
$110 Million of  the settlement money will go to borrowers who lost their homes to foreclosure in AZ between Jan 1, 2008 and Dec 31, 2011. These borrowers will … (3 comments)

short sale: Why bother with a short sale?.....7 good reasons to short sell your home. - 12/07/11 08:00 AM
"I'm not sure if a short sale is for me......maybe I should just let the home foreclose"
 
1.  A short sale is better than a foreclosure. 
* You will be able to borrow and buy again sooner. Lenders have longer waiting periods for those with foreclosure on their records. Settled loans indicate to a creditor you were cooperative and worked out a solution.
* Employers often run credit checks prior to hiring employees. You could be turned down for a job in favor of someone with stellar credit.
* Foreclosures can affect those with security sensitive employment (such as security … (3 comments)

short sale: 4 bedroom Pecan Creek home - 11/20/11 11:11 AM
4 bedroom San Tan Valley home for sale
(0 comments)

short sale: 3 bedroom in Crosspointe -Mesa, AZ - 11/20/11 10:45 AM
3 bedroom plus den in Crosspointe
(0 comments)

short sale: Vintage Hills at Las Sendas 4 bedroom - 11/20/11 10:34 AM
Las Sendas Mesa Arizona 4 bedroom
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short sale: 2 Story home in Camelback Ranch - 11/14/11 10:36 AM
3 bedroom real estate short sale home in Camelback Ranch
(3 comments)

short sale: Beautiful Custom Home in NE Mesa, AZ-Views! - 10/31/11 11:31 AM
Mesa Arizona Custom Home - Beautiful City Lights & Mountain Views!
(1 comments)

short sale: Trustee Sale Questions Answered - 10/17/11 05:36 AM
As an Arizona real estate broker specializing in short sale and auction properties I get asked a lot of questions about the foreclosure process. Here are my answers to the most common:
1. How do I find out the details of the sale (date, time of sale, where it will occur)?  The best way to find the most up-to-date (and up-to-minute) information regarding a Trustee Sale is by calling the Trustee directly. Your bank's Trustee information can be found on the paperwork you are receiving from the bank in the mail as well as the foreclosure papers posted on the property. … (3 comments)

short sale: Approved Price-quick short sale. $83,000. - 07/04/11 05:52 AM
Laveen Meadows Short Sale 4 Bedroom
 
(1 comments)

short sale: Why hire a CDPE?...what's a CDPE anyway? - 05/18/11 04:32 PM
Why Hire a CDPE?
A Certified Distressed Property Expert® (CDPE) has a thorough understanding of complex issues in today’s turbulent real estate industry and knowledge of foreclosure avoidance options available to homeowners. CDPEs can provide solutions, specifically short sales, for homeowners facing market hardships.
Homeowners regularly proceed without guidance of any kind through the often financially and emotionally devastating prospect of foreclosure. Speaking with a well-informed, licensed real estate professional is the best course of action for a homeowner in distress. Through comprehensive training and experience, CDPEs have the tools to help homeowners find the best solutions for their unique situations … (1 comments)

short sale: 4 Bedroom Laveen Meadows Home-Short Sale - 04/28/11 04:53 PM
Laveen Meadows Short Sale 4 Bedroom
 
(5 comments)

short sale: Damaged Credit....When Can I Buy Again? - 04/14/11 06:40 AM
 

When can a homeowner obtain financing to buy again after a SHORT SALE, FORECLOSURE or BANKRUPTCY?
Here is the latest information on expected wait times (including recent changes):

SHORT SALE
 
Conventional or Fannie Mae Loan:  2 yrs w/ 80% LTV (20% down payment)                                                               4 yrs w/ 90% LTV
                                                              7+ years higher LTV
* FHA Loan: 3 years  VA Loan: 2 years  Jumbo Loan: 5 to 7 years  
FORECLOSURE
 
 Conventional or Fannie Mae:  7 years  FHA: 3 years  VA: 2 years  Jumbo: 7 years  
BANKRUPTCY (Chapter 7)
 
 Conventional or Fannie Mae:  … (2 comments)

short sale: Short Sell and Qualify for New Financing on Another Home Right Away! - 04/12/11 03:06 PM

Can it be?  I can short sell my current home and qualify to buy a new home right away?
The answer is possibly YES!
Recently I helped a client sell his large custom home (with a mortgage that was WAY under water) and downsize into a more modest home (a nice brand NEW DR Horton home). How?.....a special FHA loan (and with the assistance of an FHA expert mortgage guy).  These loans are being done every day people!  There are a few circumstances that the borrower must meet when considering a short sale. I highly recommend finding out if this … (3 comments)

short sale: So Why Won't Banks Modify Loans? - 12/17/10 05:15 AM
It is a curious thing why a bank would rather foreclose on a home than modify the borrower's loan. Well, not so curious if you understand the bank's position i.e. their stake in the game.
One thing to remember is just because the borrower receives a statement form Wells Fargo or B of A doesn't mean that bank is the holder of the note. In fact many times they are just servicing the loan.  Once loans are originated they are often sold off a few months later to an investor, to Fannie or Freddie or to another bank. Banks are in … (1 comments)

short sale: Foreclosure Moratorium Doesn't Mean You Can Keep Your Home.....so what does it mean? - 10/19/10 10:30 AM

 
You may have heard major banks have suspended foreclosure proceedings to investigate possible problems with documentation. You may have even heard rumors of a federal foreclosure moratorium. This part is just a rumor as the federal government does not have the right to stop all foreclosure proceedings in the entire country. This must be done on a state level. Attorneys General of many states are investigating fraudulent activities among banks to ensure proper legal handling of foreclosures. (but really mass moratoriums is not something we should hope for as it would further depress the market and move us backwards … (2 comments)

 
Laura Higginbotham, Broker/Real Estate Consultant, Mesa, Arizona Home (Arizona Real Estate Options)

Laura Higginbotham

Broker/Real Estate Consultant, Mesa, Arizona Home

Mesa, AZ

More about me…

Arizona Real Estate Options

Address: Mesa, Gilbert, Chandler, Queen Creek, Tempe, Scottsdale, AZ

Mobile: (480) 570-6800

Fax: (480) 371-1168

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