Are you tired of making your mortgage payment every month without any return of equity in your home? For homeowners that are still current on their mortgage payment the housing market of the last five years has been nothing but frustation. Thankfully banks are now allowing short sales for homeowners that have a valid hardship and are still current on their mortgage payments. Contact your Tucson realtor today to learn how you can stay current on your mortgage while also selling your distressed property for less than what you currently owe.
As more homes enter foreclosure banks in the area has realized that a short sale is good for both sides. Your bank is not in the business of owning foreclosed homes and a short sale is a great option for removing distressed properties or toxic loans for the market. When a home is in foreclosure your lender is responsbile for upkeep and monthly bills which takes away from making money off the mortgage loans they offer. Your Tucson realtor can negotiate on your behalf to sell your home for what it is currently worth while also having the remaining debt forgiven. This is a very valuable option for homeowners because it will help keep their credit strong while also getting out from under their mortgage debt. Most homeowners that complete a Tucson short sale see a drop in their credit score but this is due to missing multiple mortgage payments. Homeowners that complete a short sale without missing a payment will see a very minimal change in their credit following the sale of their home.
If you are frustrated every month when it making your home payment contact your Tucson realtor to learn about the options in front of you. Given the adjust home prices currently available you may be able to find a new home at a great price that will build equity for you from day one.