Yes, times have changed this year and Short Sale approvals are happening on a regular basis.
SOLD AND CLOSED SHORT SALE
I listed this home in Litchfield Park, Arizona, as a short sale. It was an investor owned property and he owed way more than it was worth. We worked with him and our short sale negotiator to get the bank to approve the sale.
Our buyer went under contract in August and closed escrow on Friday, September 11, 2009. They bought a great home here in the Phoenix real estate market. Entered near the bottom and will build great equity into the future. Good for them. The seller is free of his monthly losses, the hits on his credit and no longer owns this home. He will be eligible to buy another home in 12 months, FHA, or 24 months for conventional. The difference between Short Sale and Foreclosure is HUGE!
If you or anyone you know is facing foreclosure, call or email. We will send our “Stop the Foreclosure” package. Short sale is only one of many options, the worst is to do nothing. Call us today 480-502-7699!
480-652-2004