Hello everyone my name is Kelly Cook with the Kelly Cook Real Estate Group, your Phoenix short sale specialist, thank you for joining me today. Our team of short sale experts are working with Phoenix homeowners every day to find the best solution for avoiding foreclosure. If you are behind on your mortgage or just have questions on the short sale process take a minute to search my website or call me directly to learn more about how the Kelly Cook Real Estate Group can help you.
For my blog today I wanted to speak with you about an interesting topic that many Phoenix homeowners ask about when considering a short sale. It is some what of a controversial topic but homeowners often ask me if they need to be late on their mortgage payments in order to complete a short sale. The short answer to this question is no but for most Phoenix homeowners you will need to be behind on your mortgage to get approved for a short sale. While there are some ways to get a short sale done and stay current most lenders require the mortgage to be delinquent in order to allow a short sale to take place. The short sale guidelines put in place by most banks require a valid reason, or hardship, to complete a short sale which is why staying current through your short sale and getting an approval may be a challenge.
If this is a topic you have been thinking about give me a call to discuss the details of your mortgage situation and the different ways we may be able to help you. If you are unsure if a short sale is right take a minute to try the Short Or Stay Calculator on my website to learn more about the property value of your home in different recovery scenarios. Thank you for your time today and I look forward to hearing from you soon at Phoenix's short sale specialist with the Kelly Cook Real Estate Group.