A close neighbor of upscale Real Estate in Scottsdale, is Paradise Valley but with a population density of only about 15,000 (just 340 people per square kilometer of luxuriant, scenic desert), Paradise Valley truly lives up to its name. The Town of Paradise Valley is a haven for fans of the great outdoors and of peaceful, relaxing living. Along with some of the loveliest unspoiled desert vegetation within the Valley of the Sun, two of the area's largest and most beautiful mountains contribute to Paradise Valley's unique and mysterious terrain. Camelback and Mummy Mountains provide hundreds of acres of preserved natural landscape that are perfect for hiking, climbing, and simply enjoying the breathtaking views.
Paradise Valley Real Estate in Scottsdale>>
At nearly 3,000 feet, Camelback Mountain gets its name from its unmistakable two-humped batrian camel shape, though Paradise Valley residents have an even better view of its other locally famous feature: the "Praying Monk" formation extending from the north side of one of the peaks surrounded by some of the most beautiful Real Estate in Scottsdale. The Echo Canyon Recreation Area, a 76-acre park that surrounds the mountain, is the result of 1968 preservation efforts by former resident Senator Barry Goldwater. Camelback Mountain has been named one of Phoenix´s 30 "Points of Pride," a list of landmarks and attractions said to best represent what the Valley has to offer both residents and visitors.
Though it's not quite as tall (2260 feet), Mummy Mountain is larger in terms of untouched desert land: 320 acres protected by the Mummy Mountain Preserve Trust. Like its cousin, the mountain was named for its profile: it is said to resemble an Egyptian mummy lying down. The following community information shows why so many people have chosen Paradise Valley AZ as a place to live and to buy Real Estae in Scottsdale. Homes for rent are being placed into property management daily.
Paradise Valley Arizona is located between central Scottsdale and Phoenix in Maricopa County. At an elevation of 1342 ft., Paradise Valley covers a land area of 15.5 square miles in Arizona's scenic Sonoran Desert. Camelback Mountain is on the town's southern boundary, Phoenix Mountain Preserve is on its west and Mummy Mountain is centrally located in the town. The topography is approximately 70% flat and 30% Mountains. Paradise Valley is primarily residential with the median age approximately 46 years, 75% of the population is over 18 years making this area desirable as a retirement location with the most luxorious Real Estate in Scottsdale.
Much of the residential construction features custom homes but many subdivisions and gated communities exist as well. A few homes have been built on view lots on the lower slopes of Camelback Mountain, Mummy Mountain and on the up slopes of the Phoenix Mountain Preserve boundary. Commercial enterprise in Paradise Valley is limited however residents find Scottsdale's retail facilities and supermarkets very convenient as they are only few minutes commute away. The same is true of ground and air transportation and other metro city support services in both Scottsdale and Phoenix. Real Estate in Scottsdale
Theaters, museums, art galleries, restaurants, recreational facilities and sports arenas abound in nearby Phoenix and Scottsdale as well. Paradise Valley is proud of its own resorts including the Marriott's Camelback Inn Resort and Spa, Mountain Shadows Resort, and La Posada Resort. These are regarded as among the top Resorts in the Phoenix Metro Area and are enjoyed the year round.
George Miro
RE/MAX Achievers
6424 E. Greenway Parkway
Scottsdale, AZ 85254
Office: (602)214-2675 Email: georgemiro@cox.net
Website: http://www.scottsdalerealestate-az.com
Fountain Hills real estate options consist of single-family detached homes from the High $300,000s to more than $4 million for large luxury Real Estate in Scottsdale AZ. Condominiums and townhouses range from the high $100,000s to $900,000 and more. Fountain Hills' has three new award-winning golf course communities: Eagle Mountain, Sunridge Canyon and Firerock, each featuring spectacular views of the surrounding mountains. The views of Fountain Hills are one of the town's most valuable assets and are available from almost all of the numerous residential neighborhoods, custom homes and condominiums.
Fountain Hills Real Estate in Scottsdale AZ>>
The Fountain Hills Unified School District serves students from preschool through 12th grade. Boasting an outstanding and beautiful location, a laid-back lifestyle and excellent amenities, Fountain Hills offers something for everyone and some of the best Real Estate in Scottsdale AZ. The town of Fountain Hills is also home to fine resorts and is perfect for a single destination vacation. Fountain Hills affords the visitor one of the last great destinations in the Valley with unsurpassed desert beauty. Fountain Hills is located close to well known shopping, restaurants and the arts. It is just a short drive to the famous White Mountains or a day trip to the red rock beauty of Sedona, the natural wonders of the Grand Canyon or the southwestern atmosphere of Tucson.
Fountain Hills is nestled in the North Valley McDowell Mountains, 30 miles northeast of downtown Phoenix and 11 miles from central Scottsdale. The town has 18.2 square miles within its boundaries. Founded on December 15, 1970 and incorporated on December 5, 1989, it has grown to be a thriving community of about 25,000 people. Fountain Hills Real Estate in Scottsdale AZ is spectacular and offers a stark contrast to most of the topography of Phoenix. To the east are the Mazatzal Mountains with the four peaks at over 7,500 feet standing out as a prominent landmark. The majority of the town is hilly with views in most all directions. Exterior architecture varies in styles like Santa Fe, Mediterranean, Tuscan, and Modern. There are gated subdivisions through the community.
Fountain Hills Golf Club has been touted as one of the best courses in the area. Bob Lohmann created a wonderful golf course shaping a tremendous rolling design on what was a flat canvas of land. Fountain Hills Golf Club opened in the mid-1990's to rave reviews particularly for the transformation created to a vacant area of Alsip. This public course features multiple tees for a fun yet challenging test of golf for all skill levels. ServiScape teamed with the City of Alsip and the FHGC General Manager to resolve depressed course conditions. ServiScape developed and implemented a comprehensive agronomic plan that has delivered course conditions consistent with the demands of quality golf surrounded by Fountain Hills Real Estate in Scottsdale AZ. Designed by noted architect Bob Lohmann.
Fountain Hills has a small town feel; yet it is close to the metropolitan city of Phoenix and Scottsdale. It is a 15-minute drive to Scottsdale where the Loop 101 freeway can be accessed that can take one to most places in the Metro area.The town has several large parks; 64 acres Fountain park, 25 acres Golden Eagle Park, Four Peaks Neighborhood Park with lighted soccer fields, tennis courts and basketball courts, and Desert Vista Neighborhood park. The best-known landmark in Fountain Hills is Fountain Park consisting of 64 acres with a 28-acre lake and the famous fountain in the center of the lake that spurts a 650 feet column of water into the air surrounded by some of the most beautiful Real Estate in Scottsdale AZ.
Fountain Hills has four golf courses; Sun Ridge Golf Club, Desert Canyon Golf Club, and The Golf Club at Eagle Mountain and the Fire Rock Country Club that is private within a gated community. All of the golf courses have home sites along their fairways. There is an abundance of out door recreation activities near Fountain Hills. Its northern border is adjacent to McDowell Mountain Regional Park, one of the largest parks in Maricopa County. It is a 21,099-acre park that offers excellent hiking, sightseeing, camping, mountain biking and horseback riding trails. It is also in close proximity to the Verde and Salt Rivers, Lake Saguaro, and cool pines in the Rim Country. Some of the best Real Estate in Scottsdale AZ is to be found in Fountain Hills.
George Miro
RE/MAX Achievers
6424 E. Greenway Parkway
Scottsdale, AZ 85254
Office: (602)214-2675 Email: georgemiro@cox.net
Website: http://www.scottsdalerealestate-az.com
The planned community of McCormick Ranch is situated in Central Arizona, about a half hour commute from Phoenix in Maricopa County. Located in the Scottsdale metro region, McCormick Ranch Real Estate in Scottsdale is one of the largest planned communities in the country with a population of about 23,000. McCormick Ranch real estate options consist of primarily single-family detached homes, condominiums and townhouses as well as land lots for custom building.
MCCORMICK RANCH REAL ESTATE IN SCOTTSDALE >>
McCormick Ranch Real Estate in Scottsdale is a carefully planned community in stages, the original 4,236-acres of bare land is now a beautifully designed neighborhood including two championship 18-hole golf courses, over 25 miles of bicycle paths, public tennis courts, 130-acres of man-made lakes, two of which allow sailing and several that are stocked with fish. Travel through the metro areas has been facilitated by the Valley Metro transit system. For those dependent on air travel, Phoenix Sky Harbor International is conveniently located about 30 minutes away from McCormick Ranch. The Scottsdale Real Estate economy in the area is well-diversified and prosperous. Some industries in the region providing employment include: educational, health and social services, manufacturing, retail trade, professional, scientific, management, administrative and waste management services, arts, entertainment, recreation, accommodation and food services. Residents with children from grades K-12 will find educational services through the Scottsdale Unified School District. Those in pursuit of a degree in higher education will find several local community college and university campuses nearby including Arizona State University - East Campus and Scottsdale Community College. Recreational amenities in the area include Canyon Lake and Lost Dutchman State Park.
McCormick Ranch Real Estate in Scottsdale Located in the heart of Scottsdale, McCormick Ranch is one of the largest planned communities in the United States. With over 3,000 acres, there are a variety of real estate options including single-family homes, townhouses, and condos. Scottsdale's recent growth and development in the last several years has brought renewed interest and prosperity to McCormick Ranch Real Estate in Scottsdale which has homes ranging from less than $300,000 for a two-bedroom condo to well over $2 million for a large property with five or more bedrooms. Its central location is only minutes from downtown Scottsdale and less than a half hour drive to Sky Harbor Airport and central Phoenix. Most McCormick Ranch Real Estate in Scottsdale was built in the 1970s and 1980s and have ample square footage, mature landscaping, and drip irrigation. Many of the properties have been renovated to meet the demands of current homebuyers, and it's not uncommon to find a gourmet kitchen, upgraded baths, and a resort-style backyard in a McCormick Ranch home for sale within the community's many subdivisions. The following community information shows why so many people have chosen McCormick Ranch AZ as a place to live. Rental Scottsdale Real Estate is being placed into property management daily.
McCormick Ranch Real Estate in Scottsdale a pioneer among master planned communities, was almost the size of Scottsdale when it was built in the 1970s. The community covers about seven square miles in Central Scottsdale and has a population of over 20,000. It's the site of the last large ranch in the City of Scottsdale, a ranch known for breeding Arabian horses. The McCormick Ranch development was envisioned as a complete community with such services as schools, hospitals, shopping and restaurants. The McCormick Ranch Center area has light manufacturing, garden offices, banks, shopping centers, an auto center, medical offices and grocery stores.
Next to the community is Scottsdale Ranch Park, a 31-acre venue that offers a variety of sports and recreation opportunities. McCormick Ranch Residents will find baseball diamonds, basketball, tennis, racquetball and volleyball, plus large grass areas with shade trees and picnic areas. The tennis center features 12 lighted tennis courts, four lighted racquetball courts and one lighted squash court. There are also six lighted sand volleyball courts, picnic areas, four half-court basketball courts, four lighted ball fields and a children's playground. The campus offers something for all ages with an elementary school, a senior's center and a boys and girls club.
The California influence is evident in architecture and landscaping throughout the community. McCormick Ranch Real Estate in Scottsdale choices run the gamut from luxury homes and waterfront properties along several man-made lakes to golf course homes, town homes, condominiums and patio homes. Recent listings for McCormick Ranch resale homes show single-family, five bedroom homes (with up to 5,000 square feet of living space) in the $795,000 range. A four-bedroom home with 3,000†square feet will be valued in the high $400,000s.
For information about Scottsdale Real Estate please contact us at:
George Miro
RE/MAX Achievers
6424 E. Greenway Parkway
Scottsdale, AZ 85254
Office: (602)214-2675 Email: georgemiro@cox.net
Website: http://www.scottsdalerealestate-az.com
Blog: http://www.scottsdalerealestate-az.com/blog/
Desert Mountain Scottsdale Real Estate, AZ is one of the finest private residential communities in the world. With over 300 days of sunshine per year, our Desert Mountain AZ members enjoy a casual southwestern lifestyle offering social and recreational events to share with family and friends. Named as one of the "World's Best Golf Communities" in 2000 by the Robb Report, Desert Mountain continues to receive awards and recognition not only for the community, but for its golf courses, clubhouses, retail outlets and the architecture of the homes that are built here. Our 20-year Desert Mountain AZ history reflects our dedication to a community that is considered among the most revered places in the world to make your home.
DESERT MOUNTAIN SCOTTSDALE REAL ESTATE >>
Desert Mountain Scottsdale Real Estate is a gated, 8,000-acre residential and recreational community nestled in the foothills of north Scottsdale's Continental Mountains. Rolling terrain, the beautiful Sonoran Desert, city light views and six distinctive golf courses are just some of the characteristics that make up the community's 32 individual villages. Located in the high Sonoran Desert of north Scottsdale, Arizona, Desert Mountain enjoys year-round temperatures anywhere from 5 to 10 degrees cooler than the metropolitan Phoenix area. Ongoing upscale commercial development in north Scottsdale brings residents within minutes of a variety of shopping centers and business districts. The Valley's impressive freeway system makes downtown Phoenix and Scottsdale readily accessible.
The Villages
Apache Cottages - Nestled between the first and ninth holes of the Apache course, the cluster of homes that make up Apache Cottages offer golf course views and elevated locations. This gated golf community real estate location provides walking paths which allow members access to the superb golf, social and dining amenities of the Apache Clubhouse at Desert Mountain Scottsdale Real Estate .
The Apache Cottages II - Nestled between the first and ninth holes of the Apache course, the cluster of homes that make up Apache Cottages offer golf course views and elevated locations. This gated golf community real estate location provides walking paths which allow members access to the superb golf, social and dining amenities of the Apache Clubhouse.
Apache Peak - Positioned high above the desert floor and nestled up against the Continental Mountains, the village of Apache Peak offers some of the best views from Desert Mountain, with boulder outcroppings, golf course views and the majestic sight of Pinnacle Peak in the distance making the village a popular choice with Desert Mountain members at Desert Mountain Scottsdale Real Estate.
Arrowhead - With the Apache golf course to the east and the Cochise and Geronimo courses to the west, Arrowhead is surrounded by world-class golf and all of the amenities the Apache and Cochise/Geronimo clubhouses possess. The exclusive gated golf community real estate also offers dramatic views of the Valley and high desert.
View all Desert Mountain villages here: http://www.desertmountain.com/villages.aspx
Desert Mountain is known as one of the finest gated residential communities in the world. What is it about Desert Mountain that makes it so inviting for current members and prospective buyers? Desert Mountain Scottsdale Real Estate
Location:
Nestled in the high Sonoran Desert in north Scottsdale, Arizona and protected to the north and east by the Tonto National Forest, Desert Mountain is known for its spectacular natural beauty and serenity. The long, distant views from The Cochise/Geronimo Clubhouse are inspiring, and the elevation relative to Phoenix contributes to cooler summer temperatures. At the same time, Desert Mountain is on the perimeter of the thriving Phoenix/Scottsdale metropolitan area, allowing for easy access to airports, shopping, entertainment and educational facilities. Also, Arizona's many lakes, streams, ski resorts and expansive mountain ranges are all close by, beautiful Desert Mountain Scottsdale Real Estate!
"Members Only" Exclusivity:
Desert Mountain is a gated community where the amenities and services are for the exclusive use of The Desert Mountain Club's members and their invited guests. Because of Scottsdale's worldwide reputation as a golf destination, resort courses in the area are often crowded; The Desert Mountain Club's exclusivity allows its members to avoid that difficulty.
World-Class Golf:
The Desert Mountain Club is best known for its beautiful championship golf courses, designed by Jack Nicklaus. Two of the five courses, Renegade and Cochise, have been rated by Golf Digest as two of the top 100 courses in America. The fourth and fifth Jack Nicklaus Signature courses opened in 1996 and 1999 respectively surrounded by beautiful Desert Mountain Scottsdale Real Estate.
Award-Winning Golf Clubhouse:
At an elevation of approximately 3,000 feet, the 52,000-square-foot Cochise/Geronimo Clubhouse is an architectural wonder serving two golf courses.
Recreational Choices:
Desert Mountain is not just a golf community. The Sonoran Clubhouse facilities were added in 1993 to complement the Club's golf facilities. The Sonoran Clubhouse amenities include tennis on three surfaces (grass, clay and hard), a pro shop, two swimming pools, a fully-equipped fitness center, locker room facilities including sauna and steam baths, and a casual dining facility. European spa-style facials and massage services are also available.
Commitment to Quality:
The development team's commitment to excellence is evident throughout the project from the guarded entryway to the quality of the home construction to the exceptional food service at the clubhouses. This commitment includes listening to the evolving needs of the homeowners and members and respecting their suggestions. Desert Mountain Scottsdale Real Estate
Diverse Membership:
Desert Mountain has attracted a diverse following; only 25% of the community's buyers are originally from Arizona. Many buyers have come from California, the upper Midwest, the East Coast and overseas.
Multiple Ownership Choices:
Many Desert Mountain buyers select custom home sites. There is no time requirement to build. The other alternative is a cottage, patio or semi-custom luxury home made available by the developer. These homes range in size from approximately 2,300 to 4,050 square feet.
Pleasant Year-Round Climate:
The Scottsdale area is famous for its perpetual sunshine and blue-sky forecasts. The area has one of the highest percentages of annual sunshine in the country - higher than that of Honolulu, Los Angeles and Miami. It's no secret that winter visitors flock to Scottsdale to enjoy the pleasant weather during the dead of winter. As an example, the Phoenix Open in January is one of the most well-attended PGA golf events in the country!
For information about Scottsdale Real Estate please contact us at:
RE/MAX Achievers
6424 E. Greenway Parkway
Scottsdale, AZ 85254
Office: (602)214-2675 Email: georgemiro@cox.net
Website: http://www.scottsdalerealestate-az.com
Grayhawk, located in North Scottsdale Real Estate, is a quiet, family-orientated community that is undoubtedly one of the most desirable places to live in the country. Grayhawk is comprised of two unique, yet interconnected neighborhoods, offering gorgeous views of the McDowell Mountains and Pinnacle Peak. This community boasts a variety of housing options and amenities that are suited for a range of lifestyles, among them Grayhawk homes with private pools for sale. Grayhawk is surrounded by the perfect weather and rugged terrain of the Sonoran Desert, allowing residents to enjoy various outdoor activities. Local parks are abundant, featuring picnic areas, basketball courts, playgrounds and grassy play areas for the kids.
GRAYHAWK SCOTTSDALE REAL ESTATE >>
The Grayhawk Walk trail offers beautifully landscaped paths for jogging, bike riding or simply taking a peaceful stroll. Quality schools offer children an excellent education while the nearby medical campus provides access to great health services. Furthermore, all Grayhawk Scottsdale Real Estate owners and residents enjoy an array of annual sporting events, cultural activities and social functions. These top-notch events help residents get to know each other and take advantage of all this master-planned community has to offer.
Grayhawk is a marvelous community located in North Scottsdale, just north of the 101 between Scottsdale and Pima roads. It is nearby great dining, shopping, entertainment, outdoor pursuits, medical care and so much more. In addition, its two public golf courses, Talon and Raptor, are world-renowned and have hosted many professional golf events. Grayhawk has two neighborhood areas to choose from. The Retreat is guard-gated and is designed around Grayhawk's two courses. Scottsdale Real Estate Homes are located in either the Talon Retreat or Raptor Retreat sections. The community amenities to choose from are numerous including tennis, a community pool, greenbelts, miles of exercise trails and more. Options range from townhomes to custom single-family homes.
The second neighborhood is called The Park. The Park is a wonderful community of single-family homes and it was designed with large play areas, greenbelts and picnic areas. Grayhawk has its own elementary school and falls under the Paradise Valley School District #69. Composed of two interconnected neighborhoods in North Scottsdale, The Park and The Retreat, Grayhawk is one of Scottsdale's most desirable places to live and to own Scottsdale Real Estate. Some of the amenities at Grayhawk include; two daily fee golf courses (Raptor and Talon), two gourmet restaurants, tennis courts, neighborhood pools, 30 miles of hiking or jogging trails, playgrounds, basketball courts, picnic areas and greenbelts.
The Retreat section is a guard-gated neighborhood that features a higher price point than The Park. The Park neighborhood is more "kid-friendly" due to the number of playgrounds and parks. Grayhawk also has mature living options at Classic Residence Senior Living by Hyatt. This is a nice attribute for residents who have parents with assisted living needs. The developers of Grayhawk have taken extensive measures to help promote a tight sense of community. In doing so, they appointed a Grayhawk Resident Program Director, who maintains a calendar of events, including: sporting events, social functions and cultural activities. Some of the past activities at Grayhawk include: "Dine-Arounds," cooking training, basketball tournaments, holiday get-togethers as well as "Walking on Wednesdays.
For information about Scottsdale Real Estate please contact us at:
RE/MAX Achievers
6424 E. Greenway Parkway
Scottsdale, AZ 85254
Office: (602)214-2675 Email: georgemiro@cox.net
Website: http://www.scottsdalerealestate-az.com
Scottsdale Real Estate Agent/Marketer
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If you are looking to buy or sell Real Estate in Arizona and need a professional agent to protect your interest as you enter into transactions with other represented principles, contact me and find out how I can possibly save or make you ten's of thousand's on your next move.
As an agent I am also a real estate investor and my specialty is finding the best prices on the market and negotiating properties for clients and myself. Whether you are on the hunt for your first home or you are looking to invest in million dollar properties and other profitable real estate investments I can introduce you to strategies that very few agents implement and you will snap up nicely priced properties before the competition wakes up.
I also have experience in more complicated and misunderstood markets such as:
Pre-foreclosures, Short Sales, Trustee Sales, Foreclosed and Bank Owned properties. If you will be getting involved in such markets as a buyer or seller I will not only represent you professionally but will also make sure you understand what's involved and what it takes to accomplish the closing of your real estate transaction successfully.
My home selling approach and marketing plan has put a lot of money in my clients pockets. I know exactly what it takes to sell your home faster and for more profit even in today's market. I started this business buying, remodeling and selling real estate for living and have graduated the school of hard knocks. My experience will protect you from making mistakes I have made in the past and it will help you close successful real estate transactions with no regrets.
Real Estate is not a job to me, it's my life. I am a full time Realtor/Investor and serve clients every day all day. I also work with a professional Remax Team and I can assure you that you are in good hands with us. Don't hesitate to contact me with any questions you have about buying, selling or investing in Real Estate. It will be my pleasure to have the opportunity to assist you with your next move.
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What is Foreclosure and Possible Options?
Foreclosure is a process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership (repossession) of the property securing the loan. The foreclosure process begins when a borrower/owner defaults on loan payments (usually mortgage payments) and the lender files a public default notice, called a Notice of Default or Lis Pendens. This process allows for three opportunities for finding bargains on foreclosure homes.
Pre-Foreclosure (NOD, LIS):
Buying a property in pre-foreclosure involves approaching the borrower/owner and offering to buy the property outright. The borrower/owner can walk away with something to show for any equity in the property and avoid a bad mark on his or her credit history. The buyer has time to research the title and condition of the property and can realize discounts of 15-25 percent below market value.
Auction (NTS, NFS):
If the loan is not reinstated by the end of the pre-foreclosure period, potential buyers can bid on the property at a public auction. Buyers often are required to pay in cash at the auction and may not have much time to research the title and condition of the property beforehand; however, a public auction often offers some of the best bargains and avoids the unpredictability of dealing directly with the borrower/owner.
Bank-owned (REO):
If the lender takes ownership of the property, either through an agreement with the owner during pre-foreclosure or at the public auction, the lender will usually want to re-sell the property to recover the unpaid loan amount. The lender will then typically clear the title and perform needed maintenance and repair; however, the potential bargain for these REO homes is typically less than a pre-foreclosure or auction property. Bank foreclosures can become government foreclosures if the loan is backed by a government agency such as the Department of Housing and Urban Development (HUD) or the Department of Veterans Affairs (VA). In that case the government agency would be responsible for selling the property.
Please Visit http://www.scottsdalerealestate-az.com
Foreclosure Options:
Option # 1: Reinstatement of Loan (Cure): This option is paying the lender everything that is owed in one lump sum to include missed payments, any late fees associated with these payments, foreclosure fees, legal fees and the principal owed during the delinquency. The lender then will reinstate the loan and stop the foreclosure. The homeowner will continue to make his mortgage payments just like he did when the foreclosure occurred.
Option # 2: Forbearance Agreement - A strategy worth pursuing is called a Loan Forbearance (Payment Plan). The loss mitigation department of your mortgage company may agree to take some of the back payments now and pay the balance within a certain period of time. For Example: You owe $6000 in back payments and fees. Your mortgage company may accept $3000 now and $500 dollars a month for the next 6 months.
Option # 3: Loan Modification - A loan modification is your mortgage company adding your late payments and fees to the loan balance and reinstating your loan. That will be a permanent change to your mortgage and your monthly payment will be just a little higher then before. It depends on the Bank. Some Banks will do it some will not. Forbearance Agreement and Loan Modification are two strategies that are easier to arrange prior to the Mortgage Company filing a foreclosure lawsuit. Some Lenders will not consider it after filing, but it's worth trying.
Option # 4: Deed-in-Lieu - A Deed in Lieu is an option in which a borrower voluntarily deeds collateral property in exchange for a release from all obligations under the mortgage. A DIL may not be accepted from borrowers who can financially make their payments.
Option # 5: Refinancing - After a couple payments are missed you will probably receive letters from mortgage brokers and lenders saying you are already pre-approved for a new mortgage. The fact is that it is very difficult to arrange new financing when you are already in default on your existing mortgage. Be very cautious about sending advanced fee's of $300-$600 to lenders or mortgage brokers. Usually they just want to take advantage of your financial situation. Arranging new financing will depend on your income, credit report, value of your home and amount of your equity. If you attempt to refinance, you should always have a back up plan available to you. Many times we have had home owners call days before the Auction saying their financing did not go through, and then it's too late.
Option # 6: Bankruptcy - A possible alternative if your financial situation has improved is filing for Bankruptcy prior to the Auction to stop the foreclosure. Unfortunately for most people filing for Bankruptcy only postpones the auction sale for one or two months and adds more debt for them to pay off. Immediately after filing for Bankruptcy you have to file a repayment plan with the courts to proof you have sufficient monthly income to pay basic living expenses such as food, utilities, credit cards, car payments etc. In addition your income must be sufficient to resume making your monthly mortgage payments. All past due amounts are usually spread out between 24 and 60 months. If you owe $9000 in missed payments and attorney fees if spread out over 48 months that would be an additional $187.50 due each month to the court appointed trustee. If you feel that you do have the income to immediately begin repayment of all your debts and the courts agree, this may be a good choice for you to save your home.
Over the years, we have spoken with many individuals who filed for bankruptcy protection only to have their cases dismissed. Not only were they out their attorney's fees ($1500-$2500) but now had bankruptcy and foreclosure on their credit report. Keep in mind that even when you file for bankruptcy you still have to keep making payments.
Option # 7: Sell your home on the open market - The fact is selling your home will give you the most money in your pocket. If you have recently been served with a foreclosure lawsuit you still have enough time to sell your home which will provide you and your family with the greatest amount of money to help for a fresh start .
Option # 8: Short Sale - A short sale occurs when a property is sold and the lender agrees to accept a discounted payoff, meaning the lender will release the lien that is secured to the property upon receipt of less money than is actually owed. If the unpaid balance of a loan is, say, $100,000 and a property sells for $90,000, under a short sale the lender might accept $90,000 as payment in full.
You have probably been swarmed by investors calling you and knocking on your door. If not yet, you soon will be. A word of caution, some investors are very aggressive and unethical. Some investors will tell you that " you only have one or two weeks before the auction and your furniture and possessions will be placed on the sidewalk or street." This scare tactic is usually accompanied by a ridiculously low offer.
The fact is you have several months before that could happen, but this is not a time to sit back and relax but pursue one of the options available to you that makes the most sense for you and your family. Don't be rushed or scared into giving up your hard-earned equity.
Option # 9: Let your home be sold on the court house steps - By far, the worst option available to you! Many people say " I have no equity, let the bank take it", but homes that are sold on the courthouse steps typically sell between %50 and %70 of their fair market value. Moreover, if a bank suffers a loss due to the pending foreclosure action against you, they also have an option. They can file a deficiency judgment against you and pursue you for the amount of their loss.
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Dear George,
We just wanted you to know that we think you did a fantastic job of helping us buy our Scottsdale home. We could not be more pleased. What impressed us the most is your professionalism, responsiveness, class, and impressive ability to keep things on an even keel. We are also very grateful for your offer to help us should we need a little help before our move. If anyone ever asks us for a recommendation on a realtor in Scottsdale, we will recommend you without hesitation. Please share this with The Pepper Group! We hope we will be able to stay in touch in the future.
Best regards,
Jack & Jane
Your website Rocks Too http://www.scottsdalerealestate-az.com
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