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Arizona Foreclosures Can Be Avoided But In Many Cases Are Not!

by Charlie Allred

70%, yes I said 70% of Arizona home owners are currently upside down on their homes… Meaning they have more mortgage than house. So, what are the banks doing? Well, they are sending out foreclosure notices like coupons for the grocery store in the Sunday paper.

And, too many of these homes are going to foreclosure unnecessarily. In most cases a short sale is the best way to avoid foreclosure, but what do most do? Most sit back and do nothing… And that is the saddest part. Rather than being proactive and looking for solution, they tend to shy away from it.

Its understandable because we are dealing with human nature here, but don’t let human nature prevent you from working to create a better outcome.

What you don’t know can hurt you. Listen, if you have borrowed money to buy your home recently, then in the state of Arizona you will not have a mortgage on your home. This is because Arizona is a trust deed state. The word mortgage is used colloquially, but in fact that is not what you have. And, in a trust deed state like Arizona you have 90 days to reinstate your mortgage plus fees and get back on track and that is it! After that, you are going to a trustee’s sale.

Mortgage mods don’t generally work, but short sales in Arizona generally do! And, you need to speak with a short sale specialist immediately because the clock is ticking… You must understand how you can maneuver and create the best possible result for you family.

I encourage you to learn more… Read about short sales today!

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