SORRY WE HAVE PULLED THIS VIDEO WHILE A NEW ONE IS BEING CREATED. THERE HAVE BEEN SEVERAL CHANGES TO THE SHORT REFINANCE RULES AND WE WANT TO GIVE YOU THE MOST RECENT INFORMATION!
Arizona Short Refinance
Phoenix, Arizona and the communities of Scottsdale, as well as the surrounding communities of McDowell Mountain Ranch, DC Ranch, Silverleaf, Grayhawk, Troon, Rio Verde, WindGate Ranch, Desert Highlands, Desert Ridge, Tatum Highlands, Tatum Ranch and other communities of phoenix; have been hit hard by the current down housing market. Thousands of homeowners are either upside down on their mortgages, have negative equity or are about to lose their homes to foreclosure. It is not uncommon to see large parts of a neighborhood vacant as a result of foreclosures. Even if Arizona homeowners are current on their mortgage, many don’t even qualify for a traditional refinance allowing them the opportunity to take advantage of lowering their interest rate and their monthly mortgage payments.
So what can you do to save your home if you are one of those homeowners who are upside down on their mortgage? You probably have heard about a mortgage modification or selling your home with a short sale, or even as a last resort filing bankruptcy. Today’s most widely used options for upside down homeowners such as a mortgage modification or a short sale are not the only solutions. What you probably don’t know about is one of the best options now available to Arizona homeowners, and that is a short refinance.
What is a Short Refinance?
A short refinance is a way for you to keep your home by lowering your monthly mortgage payment. In fact, many finance industry experts view this as one of the most exciting loan products available because it really can resolve today’s distressed homeowner’s problem making their mortgage payment affordable. Other methods such as mortgage modification or forbearance, while work in some instances, have failed more often. Now with a short refinance, there is more hope than ever for homeowners to keep their homes.
Here is how it works. With a short refinance, your current lender agrees to waive part of the balance on your old loan so that you can obtain a new fixed rate mortgage loan approval for up to 97.75% of your home’s current market value. Getting a short refinance is basically the same as a short sale, except that you get to keep your home instead of selling it and it can have no negative implication on your credit. It is a better alternative for your lender as well. They end up receiving more money than if you were to sell your home with a short sale. Keep in mind though that there may be some fees associated with a short refinance such as an appraisal fee, processing fee and credit application fee. The process can take some time too so you need to be patient because the results are well worth it.
Why Consider a Short Refinance Option to Save Your Home?
• You get to keep your home
• Lower monthly payment
• Lower mortgage balance
• Current lender gets more money than if you sold your home with a short sale or a foreclosure.
• Not a government bailout
• Saves home values in the community
Why You Should Work With Experts?
The Cameron Team are experts in helping homeowners save their homes. We are not just interested in selling your home or negotiating a short sale with your lender. We are truly dedicated to helping our clients save their homes by helping them find the best ways to avoid foreclosure. Our experienced team is ready to help you find the right solution for your financial needs. A short refinance may just be the answer you are looking for. We can quickly help you find a short refinance product in the Phoenix/Scottsdale and surrounding areas that suits your needs. If you are interested in a mortgage modification, deed in lieu or forbearance, our experienced team is here to assist with the negotiations of those as well. We even have an attorney who we can recommend to you who will give you a 15 minute FREE consultation if you need legal advice.
We know and understand how stressful times are. The more people we help stay in their homes, the better for everyone. One less foreclosure or REO on the market is a victory for all of us.
One such company is M3Strategy. I recently interviewed Jeff Robinson of M3Strategy about a Short Refinance; you can watch the video below. Jeff can be reached by email at Jeff@M3Stategy.net or on his cell phone at 480-240-8313
For a FREE packet of information about how to avoid a Foreclosure, go to www.NoForeclosureAZ.com
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Are you ready to take advantage of this market? Do you want advanced notice to new bank owned properties before they hit the market? www.ArizonaBankDeals.com see new foreclosure homes before most other agents even know they exist!
480-652-2004