Katie Franks

Today, in Phoenix Arizona, many homeowners are upside down, at no fault of their own. Many people purchased homes during the recent real estate boom, not knowing the market was going to take a major tank. I meet so many people who are just frustrated with making a mortgage payment each month on a home that will take them 15 years to sell and just to break even. Isn't the point of homeownership to increase ones assets and net worth?

It's like throwing money out the window these days!

What can a home owner do in this situation? One option is a Principal Reduction!

Principle Reduction reduces the balance on your mortgage to an amount which is closer to the fair market value of your property. It can lower your monthly payments and save you thousands of dollars.

This is a valuable option for homeowners who want to keep their home!

This is a fairly new concept that can be extremely difficult to negotiate. We specialize in successfully negotiating principle reductions. One tool we use to negotiate with your lender is a comprehensive report which shows the market value of your home and compares the cost of foreclosure and short sale to a reduction.

Call Today for a no-obligation consultation! (602) 759-0813

Ask for Katie or Rebecca

Today in Arizona, many homeowners are just a few months, weeks, or even days away from foreclosure. Many people just need a little help understanding what their options are.

Here are a few options a homeowner may consider inorder to avoid being foreclosed on their home...

• A Loan Modification - Allows homeowners to reduce their monthly payments to a more affordable amount and keep their home.
• Short Sale - Allows homeowners to sell their home at fair market value, even if they woe more than the property is worth. In most cases the lender forgives the deficiency.
• Deed-In-Lieu of Foreclosure - Essentially a "voluntary foreclosure" where a homeowner and their lender make an agreement to return the home to the lender.
• Bankruptcy - Some people file bankruptcy as a way to avoid foreclosure and regain control of their financial situation.

A few other options include...

Special Forbearance, Repayment Plan, Partial Claim, and Refinancing.