The Realty Butler Blog

AZ Pre-Foreclosure, Default Servicing & Buyer Planning

More On Arizona Short Sales

I’ve had an unbelievable number of people call me, both from Arizona, as well as other states, looking for help with selling their home in a short sale, or asking me more about the process. For those who may have missed it, you can see my Arizona Short Sale Help stuff here. Also, I’ve had a lot of questions about what forms & such are necessary for a short sale. Here is a list of Short Sale Documents that are applicable in any state in the union. Again, if you need a short sale specialist in Arizona, you may contact me. If you need a Realtor in another state for a short sale, I have a list of great referral agents. Just drop me a line, and I’ll find the right agent for you and your situation.

March 5, 2008 - Posted by Butler Allen | Arizona Short Sales | , | 2 Comments

2 Comments »

  1. You never wrote in any of your articles what affect a short sale has on your credit vs a foreclosure. Also I heard somewhere that the remaining balance I can be taxed on??? If both of these are true than wouldn’t it just make more sense for me to foreclose on my house. I bought it a year ago and already it’s worth 40,000 less that what I purchased it for. It makes no financial sense for me to keep this property what so ever. I left my job due to a huge paycut from the limited car sales our dealership has been producing, just like any other dealership out there. I have been unsuccessful in finding a new job so therefor I have no choice right now. I just don’t know what to do because I have nearly a 800 credit score and would hate to lose my perfect credit. My house is financed through the same company as my vehicle GMAC. I’m not late on any payments but I am now practically broke!!! Please Advise!!!!

    Comment by Jared | July 6, 2008 | Reply

  2. Jared,

    I’m sorry to hear about your circumstances. You are not alone. My team and I are currently negotiating approximately 70 short sales for my clients. I spoke earlier today as a short sale expert at the Phoenix Womans Council Of Realtors luncheon today. One of the topics was credit challanges from a short sale vs. foreclosure and Fannie Mae guidelines. The guideline states that the credit implications are worse from a foreclosure than ashort sale and that after only two years Fannie Mae with allow you to obtain a new loan after a short sale. It is five years after a foreclosure. Let me know if I can be of assistance. shortsale1000

    Comment by Randy Lewis | August 22, 2008 | Reply


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