Short Sellers – Video #1 Answering the Questions You Should Know…But Didn't Think to Ask

Hi my name is Jeff Cameron with Keller Williams. I would like to welcome you to our video of the Questions You Should Know, But Didn’t think to Ask about Short Sale.

Today we are discussing Will a Short Sale protect you from the bank. Many people are deciding on a Short Sale and have not explored this question.

First of all, let me be clear there is no simple answer. That is why it is so important for you to discuss this with a professional.  This is a legal question. No Realtor should advise you on legal questions.

Here are the variables that affect recourse. Let’s start with is this a purchase money mortgage? What that means is did you use this loan to buy the home? If so, in the state of Arizona we are a non recourse state and you may be protected. Many people did a refinance and the questions would be did you get cash out? If so, was that cash invested in the house? Do you have documentation to support the investment?

What about a second mortgage? If the first foreclosures, what happens to the second?

Before you decide to do anything, you need answers to these legal questions.

Call the Law Offices of Winsor Coleman at 480-505-7044. tell them The Cameron Team sent you. they will give you a FREE 5 to 10 minutes of Q & A. Basically it works like this, they will confirm for the easy answer people over the phone if there is no recourse. If you are in a recourse situation, they will need to meet with you. Usually $150 and a 1 hour consultation is all you need. Call them today 480-505-7044 and remember to get the FREE 5 to 10 minutes, tell them we sent you. The Cameron Team.

Remember, be positive and work towards the best interest of your family. We all share in the blame of the financial crisis, but the balloon would not have gotten so big if it was not for the Fraudulent ways of our banks and lending systems.

I hope this information helps you through this difficult time in your decision process. Remember, we are here to help, call or email me for a FREE 1 hour consultation and referral to attorney or CPA.