My Best Arizona Loan

You may be thinking a short sale is the answer to your mortgage troubles. It's possible that this is the case, but have you considered what qualifies someone for a short sale? Here are three common reasons someone should pursue a short sale.

• Market value of the home has dropped. If you owe more than the home is worth, and many people are in this situation, a short sale is probably the best option.
  
• The mortgage is in default status or could be in the near future. When the loan is in default, lenders are very motivated to do something. This is probably not a secret. What you may not know is that they are becoming increasingly receptive to the idea of working out solutions ahead of time. If they can make a determination that the home is headed for default status, they may agree to a short sale even before it's necessary.
  
• The seller has a hardship. Hardship can be temporary or permanent. They come in various forms from job loss to illness on down to debilitating injuries. A loss mitigation specialist may be able to successfully negotiate your short sale based on a documented hardship.
  
• You have a vacation or investment home. When times were good, home were looked at as great investment opportunities. Now, those same homes can be a drag on your financial well-being. If it makes no sense to keep the home, consider a short sale. It's the best option and is far more desirable than foreclosure.
  

Do you think you qualify for a short sale? Get ahold of a recommended loss mitigation specialist that knows how to properly negotiate a short sale on your behalf.