Facing Foreclosure? We Can Help You Save Your Credit Rating!

In February of 2008, 2,250 families in the metro Phoenix area lost their homes to foreclosure. This marks the highest monthly rate for loan defaults in the Phoenix Valley since 1990, according to the Arizona Republic.

If you are facing foreclosure, you are not alone. Hundreds of thousands of consumers have been affected by changes in adjustable interest rates and the slowing economy. 

The thought of losing your home is a scary and embarassing one.  However, there are alternatives to foreclosure. The key is seeking professional advice as quickly as possible before it is too late to save your home and/or credit history.

Once the lender files a Notice of Default, your options are limited. That's why it is essential to talk to your lender before the situation becomes serious and you fall behind on payments.  Many lenders will be reluctant to work out repayment schedules or agree to a short sale after foreclosure proceedings have started.

What is a Short Sale?

Short sales occur when a mortage lender agrees to allow a homeowner to sell their property for less than what is owed on it the loan. For a lender to consider a short sale process the homeowner must prove financial hardship and an inability to make mortgage payments.

There may be tax ramifications associated with a short sale or foreclosure. If you don't have an existing relationship with a tax advisor or attorney, The Benjamin Team can refer you to low cost or free legal and tax services in Arizona.

Is A Short Sale My Only Option?

No, depending on the your circumstances, your lender may agree to a loan modification. They may reduce your mortgage payments, extend the terms of the loan, or provide other options to allow you to remain in your home.

If you need to sell your home and believe you are a candidate for a short sale, Bob and Carolin Benjamin, The Benjamin Team can assist you.  We have experience with short sales.

Contact us for a free home evaluation to help determine is a short sale process may be right for you. We are experienced in listing your home for sale and helping you through the short sale process.

Call us today at 480-201-3001

or click here to Contact Us.