For those of you who own properties in Arizona or have clients who own properties, there was just a new article posted today. Approximately 42% of homeowners in Arizona are upside down on their mortgage. That is an amzaing statistic given that President Obama implemented the Homeowner Affordability Program. But wait…it gets better. Do you know how many homeowners his program has helped….Hold on …. 50. Not 5000 or 50,000 but only 50 peopel nationwide. With markets like Phoneix where values have dropped MORE than 5% (the program guidelines say 105% of home values for a loan mod.), what options are available to these homeowners? SHORT SALES are the answer!! Let’s help these homeowners and give them some dignity and a chance at gaining control of their finances down the road. I have been extremely successful at negotiating Short Sales for my clients. There are plenty of buyers ready, willing and able to perform and purchase a home. Why wiat until it goes into foreclosure only to see the home deteriorate and become a huge eyesore. In most cases, the homeowner still shows a pride of ownership in their home. No empty promises here. If I can help you, I will tell you upfront. This is a viable alternative. Let’s help eachother and our communities-don’t wait for the government to bail you out.
Elise Fay, Realtor John Hall & Associates
Glendale AZ Short Sale Expert
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Great Article – we are hopefully going to see better things happening soon. Thanks for great Statistics.