Should I Short Sale My House
My First Short Sale
Hello and welcome to the Group 4610 website. We are Kevin Kauffman and Fred Weaver, Arizona Short Sale Specialists. We have completed more than a few hundred short sale deals since 2008. With a greater success rate and more experience than just about any other realtor in the Arizona Short Sale world, we are the premier short sale agents in the area.
We would like to chat about a delicate topic these days. Should you short sale your property? The strategic default, or as we refer to it, the business decision, is a extremely hot subject lately. You may be a residence owner out there that is upside down on his mortgage. For example, you may owe $400,000 on your mortgage, but your residence is only valued at $200,000. You might be in a situation where you are getting ready to retire or you are preparing to relocate. Maybe you have the capability to pay your mortgage, but you are doing this at the determent to your family. Basically, you are throwing cash at a bad asset or investment.
We have had lots of people come to us and say ‘What am i doing here? What should i do?’ The short sale, foreclosure, or keep paying the mortgage are all choices that house owners are taking into account. We won’t tell you what you ought to do, but you ought to make the correct choice for you and your household. Lots of people think that they have a moral obligation to make their payments.
While that is a valid line of reasoning, there are some things in your mortgage contract that give you the justification to stop making payments. Also, the bank has the right to foreclose or accept a short sale. You need to evaluate what is most important to you. If that means that you need to walk away from your home with a short sale, you ought to strongly reflect on it.
There are a couple things you should always keep in mind. This is a private decision for you. Do not permit anybody to tell you what is right or wrong. Your mortgage is a agreement that has options for you to contemplate. Look at what your home is worth at the moment. How long will it take you to get your mortgage back to equal? There are consequences to each alternative that you have. E-mail us today and we can help you think about those consequences.
Short sale FAQs and more.
Get more information on selling your home from Kevin and Fred at My First Short Sale by the Short Sale Specialists of Arizona
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Tags: delicate topic, fred weaver, Home, Mortgage, mortgage contract, residence
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