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Stuck Underwater: Look For Short Sales In Arizona To Continue

by Charlie Allred

Quick Update:

MSN Real Estate Reports:

The home-price plunge has left 23% of the nation’s 53.5 million borrowers underwater, meaning they owe more on their mortgage than their home is worth. Unless they can ante up the difference — an average of $75,000, according to CoreLogic, which analyzes mortgage data — they can’t sell, and they can’t move. Their choices? Stick it out; ask the lender for permission to sell for less than they owe, aka a short sale; or default.

By allowing a tax credit we effectively “stole” transactions from the future. I will explain this in more detail soon, but for now you can read the full article here :

http://realestate.msn.com/article.aspx?cp-documentid=27421684

Learn more about Arizona short sales today

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