Arizona Homes "Truth about Short Sales"

by james_moyer
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May 11, 2011

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James Moyer Group with RE/MAX Solutions is a BBB Accredited Business with an A+ Rating. James Moyer is a United States Army Veteran who is disciplined and focused at getting results. Short Sales and Foreclosure Resource "SFR" James Moyer

Short Sale Myth Number One

“You Have To Be Behind On Your Mortgage To Do A Short Sale”

At the beginning it seemed that was the case, but due to the distress and seriousness of the problems affecting so many homeowners the lenders today are looking for a verifiable hardship such as monthly cash flow shortfall, and pending deficit and insolvency.

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Short Sale Myth Number Two

“It’s Better For The Bank To Foreclose Than To Do A Short Sale

This is a very big misconception. The bank does not want to foreclose on the property because it is very costly. The qualifications for a short sale are: Financial Hardship, Monthly Income Shortfall, and Insolvency.

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Short Sale Myth Number Three

"Listing My House As A Short Sale Is Embarrassing”

Statistics show that 1 out of 8 homes are now short sales. New estimates now show that 40-60% of U.S. home sales will be short sales or foreclosures. It’s not embarrassing because you are not alone.

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Short Sale Myth Number Four

“My Foreclosure Is Almost Here And There Is Not Enough Time”

This myth hurts homeowners the most. Foreclosure is a process and there is time to make a decision that could result in better outcomes. A lender can stall a foreclosure up to the final day of the process. If you call the lender and explain you are trying to sell your home they might stall the foreclosure. If you have a legitimate contract most lenders will stall the foreclosure.

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Short Sale Myth Number Five

“Buyers Are Not Interested in Short Sale Properties”

This is a myth that sellers hear all the time. This is not true. Many agents get calls from homebuyers and investors who only want to look at short sales and foreclosures. Listing your property with an agent who is educated in the short sale process will provide you with a great chance of quickly seeing a contract on your home.

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james_moyer

Gilbert

James Moyer Group with RE/MAX Solutions is a BBB Accredited Business with an A+ Rating. We provide assistance to local homeowners who are in need of our specialized help in the preventative foreclosure. Our unique service and purpose to assist local homeowners who are experiencing delinquent mor...

Arizona Homes "Truth about Short Sales"