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Mark Archer, Realty ONE Group, Glendale

Mark Archer

(602) 332-4713

Short Sale News For 2013:

Congress passed legislation extending the Mortgage Debt Relief Act for homeowners who do a Short Sale through 2013. When a homeowner sells their home, the IRS won't treat the debt forgiven by the bank as income, which means they won't owe taxes on that amount, therefore allowed a seller to short sale their home without immense tax consequences.

SHORT SALE IS ALWAYS  A BETTER OPTION THAN

                             FORECLOSURE!

If all retention options have been exhausted or are not possible, a short sale is a good alternative to foreclosure that allows distressed homeowners to gracefully leave their home and transition to more affordable housing. It's also typically less damaging to a borrower's credit report than foreclosure, and usually reduces the amount of time a borrower needs to wait to get a new mortgage down the road.

A short sale may make sense if you:

  • Do not qualify for any options to keep your home, including a loan modification, forbearance, or reinstatement.
  • Need to move in order to keep or obtain employment.
  • Don’t think you could sell your home at a price that would cover your outstanding mortgage amount.


 

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Featured picture for the property 4939601
13228 N 51ST Lane
Glendale, AZ 85304
$84,500
3 beds/1.75 baths
Listing courtesy of North Valley Realty ARMLS
Featured picture for the property 4939754
14423 N 57TH Drive
Glendale, AZ 85306
$112,900
3 beds/2 baths
Listing courtesy of Realty ONE Group ARMLS
Featured picture for the property 4939544
Foreclosure
21617 N 59TH Drive
Glendale, AZ 85308
$224,900
4 beds/3 baths
Listing courtesy of RE/MAX Professionals ARMLS
Featured picture for the property 4925731
Foreclosure
12447 N 57TH Drive
Glendale, AZ 85304
$269,900
4 beds/2.5 baths
Listing courtesy of Re/Max Prosperity ARMLS
Featured picture for the property 4931890
Foreclosure
8534 W PERSHING Avenue
Peoria, AZ 85381
$204,900
4 beds/2.5 baths
Listing courtesy of Elite Premier Properties ARMLS
Featured picture for the property 4870970
Foreclosure
9601 W PINERIDGE Drive
Sun City, AZ 85351
$164,900
2 beds/2 baths
Listing courtesy of Coldwell Banker Residential Brokerage ARMLS

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Listing Information Current As Of May 21, 2013 9:23:am