With the abundance of nightmare tales surrounding Loss Mitigation Divisions in Phoenix, Arizona and their inability to keep up with an insane number of requests from non-payment clientele, there has to be another way of loss mitigation that can steer clear of the lender completely. 
We truly have an option for loss mitigation that can guide you away from those nightmare tales and to a point that will, in the end, result in a better result to your present financial situation. 

*** Editor’s note: It is important that your banks loss mitigation Unit knows about your economic difficulty.  We are not suggesting through the process described below that you stop talking to your bank or lender.  We are just suggesting that you locate a way to steer clear of foreclosure by means of a different procedure.  The bank and its loss mitigation division will still be involved. Still, through the procedure below, you can eliminate much of the work from their already full plates. 
One of the most thriving means of loss mitigation in Phoenix, Arizona in recent months has been the short sale of your home.  With the help of a real estate agent familiar with the short sale practice, the loss mitigation unit can play a smaller, but still critical role in getting you out of your existing mortgage problems. 

With the short sale as a means of loss mitigation, a real estate expert will help you avoid foreclosure and he or she will help the bank trim their losses, which is exactly what the loss mitigation unit does. 
Short sales as a means of loss mitigation are prevailing with residence owners that discover themselves in the following situations…
-unable to pay their mortgage for a variety of reasons, most commonly loss of job or higher payments because of Adjustable Rate Mortgages
-house owners in upside down mortgages

How does a short sale work?
-you, as the home owner in search of loss mitigation, find a real estate specialist to help you with the short sale of your house
-the real estate professional lists your house on the market and finds a buyer that will maybe make an offer that is not adequate to pay off the mortgage (Take into account that you are not searching for a low offer, but with falling residence values, it is almost a certainty that the proposal will be less than the payoff sum of the mortgage)
-the real estate professional and the house owner phone the loss mitigation division and notify them that they would like to execute the short sale of the house. 
-the loss mitigation division, in an attempt to diminish their losses (which is what they are intended to do) will agree to the lower offer as payment in full and excuse the rest of the balance due on the mortgage. 

The benefits of this procedure are too plentiful to state.  It is keenly suggested that you look into this practice with a qualified real estate specialist that deals with short sales.
Loss mitigation aid is in high demand in these trying times.  Lenders have units to handle loss mitigation, but they are inundated. We strongly propose that you contact a real estate expert on the topic of the short sale of your house today.

Do you want to go to the next step? Free Short Sale Consultation by Short Sale Specialists.

Fred Weaver and Kevin Kauffman, Group 46:10, do daily blog – find it here: Phoenix – Foreclosure Short Sale Phoenix

Tagged with:

Filed under: Distressed Properties

Like this post? Subscribe to my RSS feed and get loads more!