Short Sale Phoenix
The housing crisis has affected a growing number of Phoenix homeowners and induced a high rate of foreclosures and REO sales. But mortgage assistance efforts from both the government and major lenders have given homeowners various alternatives. One of the most promising solutions is a short sale—an agreement between lender and borrower to sell the home at a discount and consider the proceeds full payment. Short sales Phoenix offer a range of benefits, including reduced credit damage and freedom from heavy debt.
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If you’re considering a short sale Phoenix, the first step is calling your bank to ask about their short sale policies. Most lenders handle such cases through a Loss Mitigation office. Find out what documents you need to provide, how long it takes, and what the standards are for a short sale in Phoenix. The more detail you can get, the better you can plan it out.
Make sure to have all the paperwork on hand when you send in your application. In most cases, you will need tax forms, bank statements, your latest mortgage bills, and a proof of income such as recent pay stubs. You may also need to write a hardship letter explaining how you defaulted and why a short sale Phoenix is the most viable fix for your situation. Make sure to provide a valid reason—banks are more willing to grant short sales Phoenix to people who lost jobs or fell ill than to those who overspent or took out too much credit.
Working with a short sale Phoenix company can also increase your chances of getting a short sale. Short Sale Safe has extensive experience to help you through the process, from planning your proposal to closing the deal. Start your short sale in Phoenix today—the sooner you take action, the sooner you can let go of your mortgage and get back on track.