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An Arizona Short Sale Story: My Own

by Charlie Allred

One question we as short sale help specialists are always asked is” what are the effects of a short sale?”  I feel that I have an unique perspective to this question because I have actually been through a personal short sale.  Yes, I had to short sell my Scottsdale condo after owning it for only 3 years.  It was my first home away from my parents and it was devastating having to sell it.  But I am here to tell all of you out there struggling with their own mortgages, that there is life after your short sale!

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I was not a real estate professional yet when I had to sell my house.  My best friend who is a real estate professional and she was the one to finally convince me to go ahead and put it up for sale.  We had about 45 days until my foreclosure sale and at that point the only thing on my mind was avoiding that foreclosure at all costs!  She put it on the market and we received 2 offers in quick succession about 30 days from my date.  She submitted one to the bank and the other one was kept as a backup.  Everything happened so fast that I wasn’t sure how to feel.  It didn’t really dawn on me what was happening, I just went through the motions of packing up, moving, and closing.

Probably about 1 week later, I realized a couple of things. First, I didn’t have the bank collectors calling me everyday anymore, and I didn’t have to worry about how I was going to catch up on all the months that I owed my mortgage company, which had been a constant nagging in my mind, before the sale.

These seem like insignificant things, but in reality, I was able to look forward to the future and see that there was a light at the end of the tunnel for me.  I knew I would be able to purchase a home again in 2 years, and this time I would do it knowing exactly what I was getting into.  I took charge of my finances and my future by planning how I would pay my other debts so that I could buy in a couple of years.  It can be done, and not having a mortgage that is crippling you is an enormous help.  Now I am safely on track to be able to purchase by the end of next year, which is just 2 years after my short sale.

Now that I am in the real estate field and now a short sale specialist here in Arizona helping others through this process, I can safely tell my clients, don’t worry, it will all work out the way it is supposed to.  A house is not a home unless you make it one.  So if you or anyone you know is struggling, and just don’t think any short sale help specialists understand… Believe me, some of us do!

Read more about the short sale process or contact Charlie Allred today!

Have you been there? Let me know by commenting below…

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