Why Would A Bank Do A Short Sale?
This is actually an easy question to answer. The simple answer is money. While the bank is taking a loss on the short sale, the loss is typically 10% – 40% less than what they would lose if they were to foreclose on your property. A short sale is simply about the bank losing less […]
How Long Will It Take To Foreclose?
The best answer is that it depends. In Arizona, we typically use what is called a deed of trust. The deed of trust is also commonly referred to as a mortgage. In a deed of trust, the lender has two options to foreclose. The first option is almost unheard of. It is called a judicial […]
Are Their Credit Consequences To A Short Sale?
The simple answer to this question is yes. However, this question doesn’t really have a simple answer. There are a number of factors that go into a credit score. Just like any other account that you may miss payments on, this will affect your credit score. However, when the sale of your home is complete, […]