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Foreclosure in Goodyear : Real Estate Advice

  • All112
  • Local Info8
  • Home Buying43
  • Home Selling9
  • Market Conditions5

Activity 4
Gerard Carney, Real Estate Pro in Spring Hill, FL
Wed Nov 9, 2011
Gerard Carney answered:
You have some options at this point including asking for a short sale option to buffer the financial blow that will come to your credit rating. You may also talk to a lawyer to do a possible chapter 13 which can allow you to do what they call stripping of the home value and the mortgage amount! ... more
0 votes 12 answers Share Flag
Jeffrey Masi…, Real Estate Pro in Scottsdale, AZ
Thu Oct 13, 2011
Jeffrey Masich answered:
Dear Ron:

Good question. I have some prepared information that will help you with this question:'

Bottom line:

1. Get a release on their underwater mortgage
2. Get to live in home rent free while being sold
3. Better on their credit than a foreclosure

Let me know if you have any other questions as a buyer. Note for a buyer the short sales are 50/50 propositions if the seller and their bank will allow the short sale to go through. Also, the closing time can take months although times have been improving.

Jeff Masich
HomeSmart Realty
Arizona Homes and Land
... more
0 votes 13 answers Share Flag
Joe Bourland, Real Estate Pro in Avondale, AZ
Fri Apr 11, 2008
Joe Bourland answered:

During a short sale, the seller’s lender(s) accepts a discounted payoff to release the existing mortgage, i.e. the home sales for less then what is owed. In a short sale the lender has the right of refusal on any offer, even if the seller accepts.

These attempts at selling are typically difficult to complete and often overlooked by buyers. The uncertainity and length of time for most buyers does not fit there needs. Consider it a half court shot with the clock expiring.
... more
1 vote 2 answers Share Flag
Randy Curnutt,  in Queen Creek, AZ
Thu Feb 28, 2008
Randy Curnutt answered:
Hello Kumar!

Why are you looking specifically at Surprise, Goodyear, and Peoria? What is your price range?
0 votes 8 answers Share Flag
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