This is primarily a foreclosure prevention site, HOWEVER we do work with Buyers and Investors. Please see our Home Search link for more info.

We are ARIZONA FORECLOSURE PREVENTION EXPERTS!

Chances are, you or someone you know in the greater Phoenix area is facing the possibility of foreclosure.

Today, 1 out of every 10 homeowners in America is behind on their mortgage payments. These are tough and frustrating times. Now more than ever, it's important to identify your options. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged.

Through our experience as Certified Distressed Property Experts, We've found that homeowners today have more questions than answers about their circumstances. We have created this site to help you understand the possible solutions to avoid foreclosure, as well as provide a detailed explanation of short sales, which may be the best course of action for most homeowners.

You may also have noticed that we are offering you a FREE CONSULTATION to explain your options and help you decide on a course of action. The idea of losing a home can be overwhelming, and we feel it is vital for you to have all the facts necessary to make an informed decision.

    "It's unfortunate with so many options available to homeowners, that many of them just let their home foreclose,
      not realizing the long term impact it can have on their credit, employment and financial future."

                                                                 - Michael Samora, Realtor

Our team is comprised of members of the Certified Distressed Property Institute, we have a strong and unique appreciation of the factors affecting the market, and know that there are options available to you.

If you would like to know more about your options, please call us at 602-740-4109

Short Sale
Loan Modification
Deed in Lieu of Foreclosure
Forbearance plan
Bankruptcy
Refinance with no appraisal required

We are here to help … in any way we can.
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Have you attempted a Loan Modification, or are considering one? Learn the truth behind why banks don't want to do them in this "enlightening" video.

why the banks won't modify your loan

This video illustrates one banks profitability in denying Loan Modifications, and foreclosing or doing short sales on properties, however we all know that many of the major banks have similar arrangements with the government.

It's no wonder why there have only been about 66,000 Permanent Loan Modifications approved nation wide. That's about 1/10th of 1% of the original goal of the Making Home Affordable Program!

We are not trying to discourage you from trying, if you want to stay in your home. For many homeowners, we first attempt a modification, and if that proves unsuccessful, we will then attempt a short sale to get them out from under their home.
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We've prepared this handy comparison chart to help people realize the impact just walking away from their home can have:

FORECLOSURE VS SHORT SALE

How it affects you

Issue

Foreclosure

Successful Short Sale

Future Home Purchase

A homeowner has to wait at least 3 to 5 years before being able to qualify for a new mortgage per current guidelines. Investors have to wait for up to 7 years.

A homeowner or investor only has to wait up to 2 years after a successful short sale.

Credit History and Score

A credit score can drop by as much as 300 points! It can take up to 3 years to recover your score from this event on your credit. A foreclosure stays on a credit report for 10 years.

Only late payments from missed payments are reported. After a short sale, the account is usually reported as “paid as agreed” or “settled”. Recovery from late payments can be achieved in as little as 12 months.

Employment

Most employers are required to do credit checks on all job applicants, and also have the right to actively check the credit of employees in sensitive positions. A foreclosure can challenge current and future employment.

Short sales are not explicitly reported on a credit report, and therefore does not challenge current and future employment.

Security Clearance

Foreclosure is the most challenging issue against a security clearance outside of a serious misdemeanor or felony conviction. One can have their high level security clearance revoked and/or lose their job as a result of a foreclosure.

A short sale is not reported on a credit report and does not, on its own, challenge most security clearances.

Deficiency Judgments

Mortgages resulting from cash-out refinances, home equity lines of credit, or against properties other than 1-2 family residences, may allow for the creditors to seek deficiency judgments against the property owners. A court ordered deficiency judgment allows creditor s to garnish wages and seize bank assets.

A successful short sale involves an agreement between the home owner and the creditor(s) to settle the debt at close of escrow. It also usually results in a lower deficiency to the creditor than would a foreclosure.

Want to know more? If you or someone you know is having difficulty making the mortgage payments, please call for a private consultation to know which option is right for you.

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HomeSmart
1715 W Northern Ave #100
Phoenix, AZ 85021
O: 602-740-4109
F: 602-680-5489
admin@azhomeownerhelp.com

Issue	Foreclosure	Successful Short Sale
Future Home Purchase	A homeowner has to wait at least 3 to 5 years before being able to qualify for a new mortgage per current guidelines. Investors have to wait for up to 7 years.	A homeowner or investor only has to wait up to 2 years after a successful short sale.
Credit History and Score	A credit score can drop by as much as 300 points! It can take up to 3 years to recover your score from this event on your credit. A foreclosure stays on a credit report for 10 years.	Only late payments from missed payments are reported. After a short sale, the account is usually reported as “paid as agreed” or “settled”. Recovery from late payments can be achieved in as little as 12 months.
Employment	Most employers are required to do credit checks on all job applicants, and also have the right to actively check the credit of employees in sensitive positions. A foreclosure can challenge current and future employment.	Short sales are not explicitly reported on a credit report, and therefore does not challenge current and future employment.
Security Clearance	Foreclosure is the most challenging issue against a security clearance outside of a serious misdemeanor or felony conviction. One can have their high level security clearance revoked and/or lose their job as a result of a foreclosure.	A short sale is not reported on a credit report and does not, on its own, challenge most security clearances.
Deficiency Judgments	Mortgages resulting from cash-out refinances, home equity lines of credit, or against properties other than 1-2 family residences, may allow for the creditors to seek deficiency judgments against the property owners. A court ordered deficiency judgment allows creditor s to garnish wages and seize bank assets.	A successful short sale involves an agreement between the home owner and the creditor(s) to settle the debt at close of escrow. It also usually results in a lower deficiency to the creditor than would a foreclosure.