Today the Arizona Republic reported on a new plan under Making Home Affordable that will help homeowners facing a Scottsdale or Phoenix Foreclosure. Under this plan, homeowners in Arizona could get up to 1 YEAR to Short-Sell their home instead of just handing it back to the bank through a foreclosure. Folks, this is HUGE NEWS!! To read the article, CLICK HERE.
In order to qualify, homeowners must first attempt to reach a Loan Modification Settlement with their lender. Remember, you can do this without the assistance (and cost) of a third party so-called "Loan Modification Specialist"). Most of these guys are scam artists, and we go over this in detail on our website. If the Loan Modification isn't succesful, the homeowner can then Short Sell their home, and have up to 1 year to get it sold. Not only that, in some cases, the homeowner can receive up to $1,500 in relocation expenses, according to the article. In addition, lenders will be compensated up to $1,000 for accepting the short sale.
This will undoubtedly speed up the short sale process with the lenders, as there is now incentive to move quickly (lenders do not want these loans to drag out for a year if they can help it).
If you or someone you know is facing foreclosure, visit our website today. We are CDPE (Certified Distressed Property Experts), and are THE EXPERTS in conducting Scottsdale and Phoenix Short Sales. Our website address is www.foreclosureuturn.com.
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