Archive for September, 2009

Today, as millions of homeowners struggle with what to do when the value of their property becomes less than the mortgage they owe-particularly those recently unemployed or unable to make their monthly payments-there is a growing need for clear, unbiased consumer protection information on these vital topics. Allan Dalton, president of the top 5 in [...]

Coming soon: In late August 2009, the Obama Administration will release short sales guidelines and standard forms through the Making Home Affordable Short Sales Program. What is a short sale? A short sale is a transaction in which the lender, or lenders, agree to accept less than the mortgage amount owed by the current homeowner. [...]

Short sales are a hot buzz phrase. Some sellers who decide that their home won’t sell at the price they had imagined often start to wonder if they should do a short sale. A short sale doesn’t always solve problems, but it most assuredly can create problems. Short sales are not the “saving grace” some [...]

By Arizona Association of Realtors General Counsel Michelle Lind The current housing market has resulted in a seemingly ever-increasing number of homeowners in default on their home loans. These homeowners often seek guidance from their REALTOR®. One of the many possible options to a homeowner in default on their loan is to attempt a short [...]

By Richard V. Mack, Esq.  March 2009 Short sales and foreclosures are becoming common place in our market. We are consistently asked questions by owners and agents alike about the Arizona anti-deficiency statutes and the tax consequences of a foreclosure or a short sale and deed in lieu. This article answers the two most common [...]