Foreclosure Frauds and Scams

Not all homes that receive a foreclosure notice continue through to the final foreclosure. Many homeowners are able to sell their homes using a short sale before the foreclosure is finalized. This term is used when a lender agrees to the sale of the home for less than is owed by the borrower.

What are the benefits of a short sale?

• You should be eligible to purchase another home in around 2 years or less, rather than the 5 years that will result from a foreclosure.
• You will be able to walk away with dignity, knowing that you did the very best you could under the circumstances by selling your home, rather than let the courts take it away.
• You will not have a foreclosure on your credit report.

In Phoenix, Arizona a foreclosure could take around 3-4 months to complete before your home is sold, but there is a way to delay this process to allow you to sell your home. Although you will still have to move out of your home, a short sale will, at least, allow you to move on with a clear conscience knowing that you have avoided a foreclosure.

The procedure for negotiating a short sale is a highly complicated one and, as such, you will probably require a specialist to do this for you. You could ask your realtor to do this for you. However, there are not many realtors with any experience in closing a successful sale of this type. They are trained in the traditional real estate techniques. So before deciding to use a realtor, ask for proof that they have actually done this type of sale successfully.

The very best person to help you negotiate a short sale is a short sale investor. His expertise is in this process. He will be able to guide you through all the intricacies involved in a short sale and will take the pressure off you, by approaching your lender with all the necessary paperwork needed to support your case. He will know the best approach to use in order to persuade your lender to agree to your proposal.

This is a very difficult time for you and your family but, you are not alone.

In Phoenix, house prices have plummeted by nearly 39% in the last twelve months leaving thousands of homeowners in a negative equity situation through no fault of their own. The fall in property values along with the ever increasing interest rates have meant that a lot of homeowners are finding it impossible to meet the costs of their mortgage. Another startling fact is; 75% of all homes offered for sale in June 2009 were foreclosures. Additionally, in the state of Arizona, there were almost 50,000 foreclosure filings during the first three months of 2009.

So, do the best that you can under the circumstances and avoid foreclosure by consulting with an experienced short sale investor who will help you to extract yourself from this situation so you and your family can move on and look to your future.

Nick Johnson of Motiv8td Investments LLC has been helping homeowners avoid foreclosure through effective and successful Short Sales. To download your Free Report visit Payment-Takeover.com

Article Source:http://www.articlesbase.com/real-estate-articles/are-there-any-benefits-in-doing-short-sales-in-phoenix-arizona-1073336.html

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