foreclosure

This Is Going to Hurt

by Jon Griffith Blah Blah Economy

The economic crisis as we have experienced it thus far has been rather devastating.  I have close friends who are out of work, who have been forced to sell their homes for less than they owe, and who have lost everything they have.  I’m thankful that I’m able to be there to help them through [...]

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Buyer Backs Out on Short Sale

by Jon Griffith Uncategorized

Ever heard that one before? If you list and negotiate short sales, I’m sure you have. During the past year, the time frame required to close a short sale has increased as more and more properties hit the market in a distressed state. Short sales occur when the bank allows the owner to sell the [...]

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A Few Things That Can Screw Up A Short Sale

by Jon Griffith Real Estate Basics

Aside from the normal list of problems that a home can encounter through the Escrow process, there are a few things that happen that are specific to Short Sales that can kill the deal.  I’ve outlined 5 that I have come across and a little bit about each experience. Failure to Provide Documentation Your REALTOR®’s [...]

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Even Millionaires Can Do a Short Sale

by Jon Griffith Short Sales

I hear time and time again that you have to be behind on your payments to do a short sale; that you have to prove that you’ve suffered reduced income to do a short sale.  You don’t.  This is currently false information. If you understand the mathematical components of a short sale, you will see [...]

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What Exactly is a Short Sale?

by Jon Griffith Short Sales

I was shocked to search my own website for the term “What is a short sale” only to find no results.  How could that be?  I’ve written a bunch of stuff on short sales.  Well, I’m solving that little problem right now with yet another basic post on the definition of a short sale. What [...]

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A Short Sale Will Save Your Credit

by Jon Griffith Real Estate Basics

When you cannot pay your mortgage because it is out of your reach due to adjusting rates, pay reductions, job loss, etc., then it’s likely you have been inadvertently placed on a track that will lead to foreclosure. Foreclosure occurs when the bank takes your home back because you went too long without paying them.  [...]

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Arizona Anti-Deficiency Laws Are Changing

by Jon Griffith Blah Blah Economy

The following information was provided by Marc McCain, Attorney at law, regarding the changes that are coming regarding the Arizona Anti-Deficiency legislation. A deficiency is the amount that you still owe the bank after the bank forecloses.  If you are selling your home short of what you owe, or you are about to experience a [...]

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The Effects of a Short Sale

by Jon Griffith Personal Finances

There is speculation across the industry when it comes to the real effects of a short sale.  The truth be told, there is no one right answer to the question, “What are the effects of a short sale.” So, you say, “What are the effects of a short sale?” Firstly, as a REALTOR it is [...]

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