Short Sale Advice
What is a Short Sale?
July 23, 2010 by Chris · Leave a Comment
What is a Short Sale? A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and [...]
What happens to my credit if I do a Short Sale in AZ?
July 20, 2010 by Chris · Leave a Comment
The credit consequences of a short sale and the credit consequences of a foreclosure vary slightly. The general consensus is that a short sale will show up on your credit report as a “settled”, “settlement for less than owed” or a “pre-foreclosure”. Also, since some lenders will not consider allowing a short sale until a [...]
10 Foreclosure Avoidance Options
July 20, 2010 by Chris · Leave a Comment
10 Foreclosure Avoidance Options for Arizona Homeowners Foreclosure is one of the most devastating financial challenges that a family can face and one that many times can be avoided. The options available to residents for foreclosure are many, including but not limited to short sales. Following is a brief explanation of these solutions: Reinstatement A [...]
Tax Consequences Of A Short Sale in Phoenix, AZ
July 20, 2010 by Chris · Leave a Comment
Many homeowners are unaware that when completing a short sale, possible short sale tax issues can arise. As such, an owner considering an Arizona short sale should absolutely discuss these possible issues with an attorney, accountant, or other appropriate professional. From our understanding, the debt forgiven by a lender is generally taxable to the borrower [...]
More than half of AZ mortgages upside down
July 20, 2010 by Chris · Leave a Comment
Read this in the Phoenix Business Journal. If you are upside down and have a financial hardship and need to sell your Arizona home I can help. Please visit www.howtoshortsale.org or Call Chris Morrison @ 602-999-8878. More than 11.3 million, or 24 percent, of all residential properties with mortgages, were in negative equity at the [...]
Arizona Anti-Deficiency Laws: a Guide to Navigating Uncertainty
July 20, 2010 by Chris · Leave a Comment
Here is a great article writen by Sarah Tschider Please read below. May 2008Arizona Anti-Deficiency Laws: a Guide to Navigating Uncertainty Given the two statutes and the various considerations that must be taken into account, no strategy works every time Sarah J. Tschider The distressed residential real estate market has prompted some lenders to ask [...]
Tips for Avoiding Loan Modification Scams and Foreclosure Rescue Scams
July 12, 2010 by Chris · Leave a Comment
If you have questions, I have answers. Please call me with any of your questions. Chris Morrison pre-foreclosure specialist 602-999-8878 or Chris@YourAZ.com Central Phoenix Real Estate and Short Sale Help. OCC Consumer Tips for Avoiding Mortgage Modification Scams and Foreclosure Rescue Scams Scams that promise to “rescue” you from foreclosure are popping up at an [...]
Phoenix homes now undervalued by 22%
July 12, 2010 by Chris · Leave a Comment
A frequent leader of late on the negative side of housing stats, Phoenix avoided the top spot among offenders on IHS Global Insight’s analysis of overvalued housing markets during the real estate bubble. And as of year-end, home prices here were undervalued by more than 22 percent, according to the data released Friday. “The metro areas of [...]
