Short Sale/Strategic Default
Strategic Default
A strategic default is the decision by a borrower to stop making payments (i.e. default) on a debt despite having the financial ability to make the payments.
This is particularly associated with residential and commercial mortgages, in which case it usually occurs after a substantial drop in the house's price such that the debt owed is (considerably) greater than the value of the property — the property negative equity or "underwater" — and is expected to remain so for the foreseeable future, such as following the bursting of a real estate bubble. Such borrowers are called "walkaways."
This occurs when a homeowner is able to pay their mortgage but because they are underwater or simply sick of the level of deficiency they decide to stop paying. If you voluntarily walk away from your mortgage because you owe more than the home is worth, are you a bad person? Should you even care?
Short Sale
2. You owe more on your property than it’s worth
3. You want to avoid the credit devastation of a foreclosure
4. Your moving to a new area and can’t sell your home or afford double payments
5. You are an investor who got over extended with properties or payments
6. You lost your job or experienced a significant decline in income
7. Foreclosures in your neighborhood or area have destroyed property values
8. You want to avoid a default judgment from your lender
9. Your payments have significantly increased due to an ARM interest rate adjustment
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Luck
doesn't save you from Foreclosure
Knowledge
and Experience Does!
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Linda Wieczorek 602-391-8246
Certified Short
Sale Negotiator
So if you need to talk to one of our specialists about how stopping foreclosure notices from proceeding further is a realistic alternative, call Linda 602-391-8246 or e-mail Azhomes4u@gmail.com today and let me assess your circumstances. No charge, No obligations.
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"Every 13 seconds another home goes into foreclosure - Nearly 7,000 foreclosure filings per day"
"10 million people are upside-down on their properties and desperately need help."
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We always guarantee your privacy. Arizona Elite Properties REALTOR ®,CNE,CSSN
Before using this service, consider the following information. IMPORTANT
NOTICE Arizona Elite Properties is not associated with the government,
and our service is not approved by the government or your lender. Even
if you accept this offer and use our service, your lender may not agree
to change your loan. "If you stop paying your mortgage, you could lose
your home and damage your credit rating"
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