Thinking about doing a Short Sale or a Foreclosure?
Have you considered the short and long term credit and financial implications of walking away from your property and allowing it to be foreclosed on?
Learn what are realistic expectations for a potential outcome before doing so. Whether you opt for a Short Sale or Foreclosure, there will be a impact on your credit.
Before you decide to walk away from your property and allow it to be foreclosed on, we feel it is important to consider all of the short and long term credit and financial implications of doing so. Make an informed decision about getting the help you need.
Whether you are successful in your short sale your home or allow your home to go into foreclosure, I recommend expert advice one involving whether Arizona’s “anti-deficiency” statutes would apply.
I cannot stress enough the need to seek legal counsel for each individual case and how they may or may not be affected with their individual circumstance.
The other area would be in the area of any possible Tax Consequences as a result of any forgiveness of debt by the lender. Again each individual should seek advice of any impact in their individual circumstance.
Contact me to discuss the options that may be available to you.