Maureen Karpinski Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties
As in the rest of the Phoenix area, homeowners are finding themselves in tight financial situations due to the economy. Many cannot pay their mortgages, and are considering foreclosure. Choosing to go the short sale route in Scottsdale is a beneficial option for many, and helps affluent owners avoid the stigma that foreclosure can cause. It may also help you avoid completely ruining your credit rating.
Scottsdale is an amazing city, filled with gorgeous homes. Short sales are a growing trend, due to the fact that the bank allows the homeowner to sell their house for less than what is actually owed on their mortgage, and that results in avoiding foreclosure. The process can be lengthy, but a reputable, experienced and certified realtor can help make the process much smoother, and advise you on how it all works.
Avoiding foreclosure when at all possible is essential if you do not want your credit to be ruined for 7 years or longer. When you go this route, you cannot purchase another home for several years. Simply deciding to bury your head in the sand and take this way out is usually the wrong thing to do. It certainly isn't the only solution! Banks are becoming much more receptive to the short sale process in Scottsdale, and deciding on this option usually means that you can get back in to a home of your own in just 24 months, instead of several years.
The economy has caused home values to drop considerably, and this includes the Scottsdale area. It just does not make sense to continue to pay a high mortgage on a property that has lost 30% or more of its value. By contacting a highly-qualified Arizona real estate agent, you can insure that you get all of the information you need in order for you to make the best decision for you and your family.
Whatever price you paid for your home and its current value, there are options that help you avoid foreclosure and the embarrassment that sometimes goes with it. Ruining your credit and being unable to purchase another home for years is not in most people’s best interest. Contact a realtor with vast experience in the short sales market in Scottsdale, and learn more about the options you have and how they work. It could save your future!
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