I NEED TO SHORT SALE MY HOUSE PHOENIX, ARIZONA
Friday was a busy day for me because I took two short sale listings from two different people. I host a popular radio show here in Phoenix, Arizona. The 5 year ARMs will be adjusting over the next two years and people are starting to react to the market. I am receiving more phone calls regarding short sales. People do not know who to call when they are in a financial disaster. The house in this picture was a typical homeowner. She did a cash out refinance three years ago to payoff some credit cards, payoff her car note, invest money back into the house with a new AC and took a $1,000 vacation. However, her house is about $120K upside down. Plus, her payment went up $300 to total $1699. That took her over the top.
What does one need for a short sale?
- Letter of authorization
- Hardship Letter
- 2 months Bank Statements
- 2 years Taxes 2007 and 2008
- 2 months pay stubs
- 2 years W-2's
- Financials
- Monthly Statement from the 1st and 2nd Mortgage Letter if no imcome Letter if self employed need additional doc's as we go
I explained the entire process from start to finish with the seller. She informed me that I did a thorough job when it came to explaining the short sale process to her. Furthermore, I gave her numbers to a real estate lawyer and CPA so she knows her rights in a short sale process. Many home owners across America are drowning in debt. Who is there to assist them? Every home owner asking me if they are making a good decision. Well, I cannot answer that question for them. However, I ask this following questions-"Is owning this home a joy or a burden? Are you sleeping at night or not? You must make an informed decision for your family. Bottom line.
The Real Estate and Beyond Team is here to assist you in the short sale process. We do the entire negotiations on your behalf. If you are drowning, Make the Call today. Please visit us at www.960RealEstate.com.
Make the Call, Set the Plan, Do the Deal$!
Feel free to listen to my Radio Show to learn more about the phoenix real estate market, new trends, and the latest opportunities. The Real Estate and Beyond Radio Show Airs every Saturday from Noon-2:00pm on Conservative Newstalk KKNT 960am in Phoenix, Arizona. You can listent to past shows, or stream on-line.
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Good summary of what is necessary to start the process. It seems that many area agents are also receiving more and more short sale calls too. Looks like more foreclosures are on the horizon.
We are here to serve the public so we must have the knowledge to do so.
I am sure short sales will continue to increase in next two years
At that point it is definitely a burden on ones mind. To know you are 120K upside down in a home would drive me bonkers.
It happend every day
I really enjoyed your post this morning. Keep up the great work.
I really do enjoy your postings. I look forward to more and more on AR. Have a great day.
Thanks for another great posting this week. Have a great day