Stop and ask for directions!

If you're one of the hundreds of thousands of Americans currently facing the possibility of losing their home, we have a road map to help you. Ignoring the signs won't get you anywhere.

Struggling homeowners have options, but the longer you wait to contact a Certified Distressed Property Expert like the West Valley Real Estate Group, the more limited those options become. Depending on your financial situation and market conditions, homeowners could take one or more of the following actions:

• Loan modification
  Financial hardships and loss of property value might be cause for reasonable changes that will lower your mortgage principle, rate and/or monthly payment. Not everyone qualifies for this and you may be surprised to find out why.  

• Renting
  You might want to consider renting.  You may have to take a monthly loss by renting your property, but moving into a less-expensive rental or living with family can help offset a loss. Taking in a roommate is also an option.  Learn more about the ins and outs of renting.

• Short Sale
  Homeowners and their mortgage company negotiate to accept a buyer's offer for less than the full balance of the loan. This option is by far better than a foreclosure on your credit and depends on your financial situation and current market conditions. The Arizona laws concerning short sale deficiency judgments and tax repercussions are ever changing. Before you miss a payment, get the facts about a short sale. 

• Foreclosure
  The homeowner defaults on his or her mortgage and the lender takes ownership of the property. Damage to homeowner's credit is severe. A foreclosure may even jeopardize your employment. If you work with a clearance of any kind, you need to learn if a foreclosure will affect your job. Find out what a foreclosure could mean for you.

Banks are foreclosing on houses in the Valley in record numbers, and the laws governing the above processes are changing every day. As Certified Distressed Property Experts, we are trained in the practices and techniques that can help homeowners avoid becoming part of the statistics. We navigate homeowners through the complex process of negotiating with banks and lenders, and finding a buyer for their property while minimizing the damage to their credit. Please contact us today.