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Testimonials

Hi. Sheli helped us with our short sale on our home she helped us originally purchase. She made this long, tedious process bearable. During our short sale in the middle of the process our loan was sold to a different lender. She took he reigns and tackled everything for us. Oh, by the way we moved to the east coast after our home sold in 1 week. She made it as seamless as possible. We were ready to give up a couple of times but, after speaking with her, she made us comfortable with our original decision. Sheli has become a dear friend. If I ever return to AZ and need any real estate services. She is my choice. I highly recommend her to anyone. Marisa and Jason
Sheili helped us buy our house here in Buckeye almost 5 years ago when we were out of state. She was always in contact with us through the whole sale process and even there for the signing of our papers to make sure we understood everything we signed. She even went to the design center with us to help us chose the right things for our new home to keep our payments down. She has still stayed in touch with us to see if there is anything or any question we might have. She was even able to find my brother and sister in law a home out here from Calif. and they are happy with Sheli as well and recommend her to their friends. I can't say enough to convey how we feel about Sheli, she's the best of the best. Mary Ann Duran
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What is a Short Sale Anyway?

An increase in foreclosure rates will inevitably bring with it an increase in short sales. But what is a short sale?

A short sale happens when you sell your house for less than your remaining mortgage balance, the proceeds of which go to the lender and in return the lender forgives the remaining balance. Selling your home as a short sale is one way to avoid foreclosure.

As a general rule, lenders lose money when they foreclose on a property. Consequently, they would rather not have to foreclose if it can be avoided. A short sale represents an opportunity to cut their losses because a short sale usually allows them to recoup more of the cost of the loan than a foreclosure process would.

However, don’t think that a short sale is an easy thing to accomplish. In order to get permission for a short sale, you must provide documentation showing a genuine financial hardship. And don’t think that the decision for accepting a short sale is solely in the hands of the lender. Sure the lender must first agree, but this is not the final word. If there is mortgage insurance involved, this company also gets input on the decision. If there is an investor backing the mortgage, they also get input as to whether to accept a short sale.

The transaction process for a short sale can be rather cumbersome as well, whether you’re on the buying or selling side. Many short sales fail due to additional demands by the lender, such as requiring the broker to reduce his or her commission and/or that the seller signs a document requiring him or her to pay back the shortfall.

If you’re on the selling side of a short sale, consider having your agent or other experienced professional negotiate with your lender for a better deal. And remember, if the lender does accept a short sale and forgives part of your debt, that is considered taxable income and you must declare it as such to the IRS.

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