arizona: What's the point of the new "Arms Length" addendum in Short Sales?
- 03/10/11 07:40 AM
I have a client with whom I have been working for nearly a year to short sell her home. She has two loans in place, and is approximately $120,000 upside down on a house that is worth about $99,000 right now. The first lender took about six months to approve the short sale, but finally did. The second lender, Chase, has approved the sale, but is requiring an "Arms-Length" addendum to the Purchase Contract prior to authorizing the release of the lien and waiver of the right to pursue the deficiency. As a lawyer and Realtor, I spent some time with … (1 comments)
arizona: Val Vista Lake -- Waterfront Properties in Arizona
- 02/25/11 04:50 PM
A client from out of state contacted me today and requested some more information about homes in Val Vista Lakes ... preferrably on the water. I haven't done a waterfront search for several months, so I was surprised to find so many great options for reasonable prices.There are currently 8 homes listed in Val Vista Lakes that are situated on the water. Most of these are in gated communities. The views are tremendous and the community is spectacular. I live just south of Val Vista Lakes and I love driving through the community on the way home. The water creates such … (0 comments)
I have a client with whom I have been working for nearly a year to short sell her home. She has two loans in place, and is approximately $120,000 upside down on a house that is worth about $99,000 right now. The first lender took about six months to approve the short sale, but finally did. The second lender, Chase, has approved the sale, but is requiring an "Arms-Length" addendum to the Purchase Contract prior to authorizing the release of the lien and waiver of the right to pursue the deficiency. As a lawyer and Realtor, I spent some time with … (1 comments)
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