The holidays should be a time of joy, but for many Litchfield Park and Goodyear Residents, this is also a time of increased financial strain. Remember that there are foreclosure alternatives such as mortgage modifications and short sales to help struggling homeowners. Contact your local Certified Distressed Property Expert (CDPE) Realtor® to discuss your options.

You can also visit our website at and visit our FORECLOSURE/SHORT SALE RESOURCES PAGE. This community resource is availale for free and defines foreclosure alternatives, including short sales, loan modifications and forebearance.

To help you start thinking about your alternatives here are the top 5 short sale questions Litchfield Park and Goodyear distressed homeowners ask us:

1. What is a short sale?

A short sale is the sale of a home when the proceeds from the sale do not fully pay off the existing loan(s). The lender agrees to accept a discounted payoff to satisfy the loan and transfer the title to the new owners.

2. Is a short sale right for me?

The only way to find out if a short sale is right for you is to speak to real estate, legal and tax professinals that can assess your current situation.

3. Do I qualify for a short sale?

The qualifications for a short sale include any or all of the following:

  1. Financial Hardship - There is a situation causing you to have trouble affording your mortgage.
  2. Monthly Income Shortfall - Each month you do not have enough money to pay all of your bills. A lender will want to see that you cannot afford, or that you will soon not be able to afford your mortgage.
  3. Insolvency - The lender will want to check your financial documentation to make sure that you do not have enough liquid assts to pay down your mortgage or debt to help your situation.

4. What are examples of hardships?

  1. Unemployment
  2. Divorce
  3. Medical emergency/sudden illness
  4. Bankruptcy
  5. Death

5. Who should I consult if considering a short sale or foreclosing?

If you are considering a short sale or even foreclosing on your property you should first do some homework and educate yourself. Your first step should be to contact a local Realtor® trained, educated and specializing in helping distressed homeowners. That realtor will then advise you to contact the appropriate real estate legal and tax professionals that can determine which route is best for your financial future.

Are you or someone you know facing Mortgage Troubles or Possible Foreclosure in the West Valley? You are not alone and you have options. Check out for more information regarding foreclosure, strategic foreclosure, and short sales that can help you make the right choice. We specialize in real estate in the West Valley, including Litchfield Park, Goodyear, Avondale, Buckeye and the surrounding areas. Don't hesitate to use our website for the resources. If you would like a free confidential consultation please call 623-252-9350.