Short Sales

Is a short sale for me?

In todays real estate environment nearly half of the homes in Arizona are worth less than the homeowners owe.  In many of these situations the home owner is having a difficult time keeping up with the payments or is facing a job transfer.

If you are in a situation where you are “underwater” in your mortgage but for any reason need to sell your home, a short sale may be the answer.

A short sale can be the lesser of many other evils.  A short sale, while it does have a negative impact on your credit, is much less significant than a foreclosure or bankruptcy.  Foreclosures and bankruptcies can have a far reaching impact on your credit score, and can limit your ability to purchase another home or vehicle.

A short sale on the other hand, is an offer that the bank accepts and agrees to take less than what is owed to them.  This will typically lower your credit score less than a foreclosure and for a much shorter amount of time.

If you have any further questions please look at our short sale resources below or contact us at the Reeves Team.