Market Conditions in 85355>Question Details

Alliiee, Other/Just Looking in 85355

How do I get out from under my house in AZ?

Asked by Alliiee, 85355 Mon Oct 18, 2010

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James Wehner’s answer
This is a great resource for you to check out: The Arizona Short Sale Advisory. It explains many of the pitfalls of a short sale option.
Web Reference:
0 votes Thank Flag Link Tue Oct 19, 2010
Reminds me of the witch in The Wizard Of Oz. You better get out from under that house before someone takes your ruby slippers.

Sounds like you need a short sale expert.
0 votes Thank Flag Link Tue Oct 19, 2010
Call 911?

There are companies that can jack up your house so you can get out from under it. Are you trapped under there?

Do you know how you got under your house? If so, can you crawl back out the same way?

Do you know the meaning of 'promissory note' and 'deed of trust'?

Okay, I'll admit that I'm just kidding around. But seriously, you need to consult with an attorney and an accountant. Do NOT take the advice on a public forum where you do NOT know the crediblity and accuracy of the people responding to your question.

All the best!
0 votes Thank Flag Link Tue Oct 19, 2010
Dear Alliee:

Read the Arizona Short Sale Advisory published by the Arizona Department of Real Estate. This discusses all the options like loan mod, foreclosure, deed in lieu of foreclosure, short sale etc. The publication also provides more resorces. For a copy see the link on my website for Short Sale Advisory.

May I wish you the best.

Jeff Masich, Realtor
Arizona Homes and Land
0 votes Thank Flag Link Mon Oct 18, 2010
Hi Alliee

Talk to a neighborhood specialist or those on this board.

Understand the pros and cons of a Short Sale, etc. etc. also consider talking to a RE Lawyer.

Good luck
0 votes Thank Flag Link Mon Oct 18, 2010
You need to be able to prove hardship...that means being insolvent (unable to pay your bills).
Take these nice Realtors up on their offers. Talk with them. You may qualify for a short sale, you may not. But you need to know your options, and to find out you'll need to share confidential information.

Good luck.

PS moving just because you are upside down is not going to work.
0 votes Thank Flag Link Mon Oct 18, 2010
Keith Sorem, Real Estate Pro in Glendale, CA
I offer some insight on my website:
Facing foreclosure is scary but, you have options. Learn how to talk to lenders. What is best for you, renegotiate your loan, do a short sale, give the bank a deed in lieu of foreclosure, facilitate foreclosure, and yes for some cases plan a bankruptcy. Then see how to restore your credit quickly to get into your next home. (see… for details)

Learn about the paperwork requirements and procedures to successful negotiate a short sale.

When lenders do not receive all the monies due on your home loans they can handle it in various ways. How they handle it determines the consequences you will experience for nonpayment. We discuss the most common consequences on the following webpage . The lenders most obvious choice is taking the house back via foreclosure. You can also offer them the deed to the house in lieu of foreclosure. Know that taking your house back is not their preference. Short sales can work to both parties advantage. Note: If a Short Sale is not properly handled by your agent and advisers you could still owe large amounts when all is done.

You will also find more short sale information at the link below or call me if I can help.
Loren 623-688-0044
0 votes Thank Flag Link Mon Oct 18, 2010
Call me so I can help. I have over a decade in real estate consulting and 4 years in distressed property sales. I specialize in the southwest valley.
Michelle Minik
West USA Realty
0 votes Thank Flag Link Mon Oct 18, 2010
There are many options you have in order to avoid foreclosure in Waddell.

Start here:

Use the RESOURCE page to find the answers you are looking for.
0 votes Thank Flag Link Mon Oct 18, 2010
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