If you have received a letter in the mail from me, read this page carefully!!
If you have any questions on anything on this page or any other page on this website, pick up the phone and call me right now at 623.986.1703. DO NOT WAIT!! THE BANK WILL FORECLOSE AND KICK YOU OUT OF YOUR OWN HOME. CALL ME TODAY. 623.986.1703. I CAN TRY AND HELP YOU.

Do you want to sell your home?
Do you owe more than you think that it would sell for?
Do you think that there is no help?
I can answer your questions
Call me 623.986.1703

Definitions of Short Sale

• A real estate sales transaction executed with the understanding that the seller will payoff their lender less than what is owed on the property.
• The lender may choose to issue an IRS 1099-A form that shows the deficiency as income which the borrower may have to pay income taxes on. A short sale can help a homeowner prevent foreclosure. A homeowner can continue to live in the property during the short sale. Most lenders do not allow a short sale unless the payments are at least two months behind. The homeowner usually is required to write a letter of financial hardship to the lender. Some lenders have pre-formatted Financial Hardship Packages. Lenders usually prefer to work with REALTORS® in short sales to ensure proper marketing to sell the property and to prevent direct dealings with unlicensed investors or consumers. 
• Foreclosure Statistics for Maricopa County Arizona  August 2007
  
  5005     Notices of Trustee Sale
  1113     REO- Bank Owned
            
   1 in 242 households received a notice in Maricopa County
   1 in 119 households received a notice in Arizona  
   1 in 211 households received a notice in United States 
  
   $62,000  Average cost to bank to foreclose
       
•    Short Sale Steps 

  Step One

  Verify the value of your property with free no obligation market analysis from Jeff Gilbert. If you are selling the property yourself, do your own market analysis of the area and your property.
   

  Step Two

  Add up all the costs of selling the property. If you are using the services of a real estate broker, the broker will provide an estimate of closing costs. If you are selling the property on your own (for sale by owner), call a local title company or real estate attorney and ask, as a seller, what the closing costs will be.
   

  Step Three

  Determine the amount owed against the property. This will be the total of all loans against the property.
   

  Step Four

  Do the calculations. Subtract the total amount owing against the property from the estimated proceeds of the sale. On a short sale, this will be a negative number.
   

  Step Five

  Contact the lender or lenders. Talk to someone in the customer service department and tell them the situation. They may direct you to a specific department. Talk to a supervisor or manager if possible; this person will have more authority.
   

  Step Six

  Ask the lender what its procedures are for a short sale. Some lenders are willing to work with you by reducing the amount owed or making other arrangements. Others will look to the agents involved (if any) or anyone else who's making money off the transaction to see if they are willing to make concessions to make the transaction happen. Still other lenders will tell you that your debt is your responsibility, one way or the other.
   

  Step Seven

  List the property for sale with Jeff Gilbert and we will try to sell the property for the maximum amount of money in the shortest amount of time to get you out of this unfortunate situation.