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Arizona Short Sales: Pride Goeth Before The Fall

by Charlie Allred

In a previous post you may remember that I spoke about Arizona short sales not being used when in most cases they can be, but did you know the reason why?

It seems that much of the recent information on the psychological effects home owners experience once they are faced with the possibility of losing their home due to a foreclosure points to depression, fear, and anxiety over the unknown. And, rather than look at viable options like an Arizona short sale, they are waiting until its too late to do anything other than let the home go.

Men in particular seem to be highly affected in that they feel “less than” or like they have in some way let their families down or failed in their role.

The evidence is anecdotal mind you, however, I speak from experience and quite a bit of my business is related to Arizona short sale transactions. The fact that a home owner is upside down seems to be something that not only are they not proud of, but something that they are fearful of others finding out. And, the fear it seems gets to the point that they may not even want to discuss their situation with a short sale expert and examine their options.

On the flip side, the lender is just operating under their legal rights under the law… they will move forward as they have to regardless of feeling. So, it would behoove you if you are in a bad situation with your loan not to make it worse by waiting. In Arizona, we are a trust deed state which means that you may only have 90 days to avoid foreclosure.

So you may want to advise those you care about to set pride aside and look toward the future. You can learn more about the Arizona short sale or contact us for answers to your questions.

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