Considering a Short Sale in Paradise Valley?
By Tony and Suzanne Marriott, Associate Brokers, Coldwell Banker Realty
(Serving the Greater Phoenix and Scottsdale Metropolitan Area)
Many people are considering a Short Sale of their home in Paradise Valley Arizona. Considering that more than 50% of homes are "under water" in Arizona - in other words - the homes are worth less than the loan balances owed - it's not surprising that homeowners are looking for solutions to avoid foreclosure in Paradise Valley. A Short Sale is one such solution. If you are in the minority - that your home is worth more than you owe on it - then you need read no further. By definition a Short Sale is a regular resale with one distinct and significant difference. The agreement of your lender(s) to accept less than the balance owed on the loan(s). Whether or not you meet the other "requirements" of your lender(s) such as a "valid" hardship can only be determined by consultation with a s...
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