Short sales are many homeowners best option to avoid foreclosure, which is why these lender-approved deals are at record levels in metropolitan Phoenix.
But sellers considering short sales should know all their options and the credit and tax ramifications from the deals first. That's why the Arizona Department of Real Estate worked with industry experts across the state to produce the new Short Sale Seller Advisory.
Besides defining what a short sale is, the advisory provides a check list of what homeowners should consider and do before going through with one.
"The Short Sale Seller’s Advisory is an invaluable step-by-step information tool for ...
Well-known Phoenix real estate executive Steve Betts is leaving SunCor Development.
His departure is being called a retirement, but Betts definitely isn't leaving a leadership role in the state's growth. The land-use and government affairs attorney plans to take over as chairman of Urban Land Institute Arizona and become co-president of the Interstate 11 Coalition, the partnership working on a freeway corridor between Phoenix and Las Vegas.
“This is an opportunity to step back and look at how Arizona has grown and how we can do it even better in the future,” said Betts.
More U.S. homeowners are receiving mortgage modifications, according to the latest report card on the program from the federal goverment.
The number of permanent modifications climbed to 170,000 in February from 116,000 in January, according to the U.S. Treasury Dept.
There's been criticism from housing advocates that many three-month trial modifications started by lenders have not been made permanent. It's clear from February's increase, Treasury was not pleased with the results and are pushing lenders harder.
Treasury reports another 91,800 permanent modifications have been approved by servicers and are pending borrower acceptance.
An addtional 72,000 new trial modifications were started in February.
The goverment is estimating these loan ...
The HOPE NOW Alliance, working with the federal government's Making Home Affordable Program, are in Phoenix again hosting a free "Homeownership Preservation" event. It starts today and runs through tomorrow Friday March 12th.
A similar event was held at South Mountain High School last summer.Homeowners facing foreclosure can receive free housing counseling at the events.
The current workshop is being held at the Glendale Civic Center and starts at 1 p.m today and runs until 7:30 p.m. Tomorrow, the doors are open from 10 a.m. to 6 p.m.
The Civic Center is located at 5750 W. Glenn Drive in Glendale.
If you attend the workshop, ...
Of the $1.5 billion allotted by the federal government to help states hardest hit by housing bubbles that burst, Arizona will receive $125 million.
Arizona is one of five states to receive the money, all states where home prices have dropped more than 20 percent. The money was divided among the states based on drops in home values, unemployment rates and foreclosure figures. The four other states and the funds they will receive: California, $670 million; Florida, $418 million; Michigan $155 million; and Nevada, $103 million.
This money will supplement the $75 billion Home Affordable Modification Program, announced by Obama ...
