Short Sale Help for Arizona Homeowners

With so much short sale news circling the air waves, we understand how hard it is to figure out the best way to get out from under your house.  If you are thinking about short selling a house in greater Phoenix you’ve come to the right place.  We’re going to share with you the VERY best resource for homeowners thinking about selling their home for less than they owe, resources about the HAFA program, and how to find a professional REALTOR® from John Hall & Associates.

Short Sale vs Foreclosure

Is it better to short sale your house or let it foreclose?  I wish there was a better answer, but it depends.  Each home seller has a unique situation so there isn’t one answer that fits all short sellers.  However, the Arizona Department of Real Estate in conjunction with the Arizona Association of REALTORS® has published a short sellers advisory to help homeowners make the best decision possible.

You can find the Short Sale Seller Advisory here.

It’s a five-page PDF file that provides excellent information on other foreclosure alternatives such as a Deed in Lieu of Foreclosure, Loan Modifications, and Bankruptcy.  It is filled with good advice and AAR and the ADRE keep the hyperlinks up to date.  Use the Advisory to educate yourself about legal issues, tax issues, and more.

HAFA – Foreclosure Alternative Program

As of April 5, 2010 the Home Affordable Foreclosure Alternatives Program (HAFA) has been available for home sellers.  The program is designed to help make short selling your home a little bit easier by offering some unique benefits.  Through an application process home sellers can find out if they are eligible for this short sale assistance program.  Upon approval both the bank and the home seller have a designated timeline to follow.  HAFA home sellers are eligible for up to $3,000 in relocation expenses and may be released from future liability for the first mortgage debt.

For more information about HAFA and the benefits to home sellers, please watch the short video and click on the resource links in this article – What is HAFA?.