Short Sale Market Advice & Support

Obama Plan to Help out Arizona Homeowners

With President Obama just releasing the Homeowner Affordability and Stability Plan, there will be relief for the millions of homeowners at risk of losing their homes.

Here in Arizona approximately 150,000 homes are in foreclosure or facing foreclosure. With cities around the country looking at fallen home prices by 26% , home prices in Phoenix have fallen 43%. We desperately need to stop the bleeding and the presidents news comes as a welcome relief for Arizona  homeowners.

Under the provisions of the plan, homeowners (not investors) who have Fanny Mae or Freddie Mac mortgages, homeowners will be allowed to refinance their homes into 30 year fix conforming even if the home is under water (you owe more than what the home is worth). However, even with the provisions of the government’s plan, there are still many families and investors who simply cannot afford their homes due to job loss, illness, divorce, or simply not being able to rent out their investments to cover their mortgage. Many responsbile Arizona home owners think foreclosure is the only answer, but this is simply not true – there are other, better options. With the launch of our new website for Arizona homeowners facing foreclosure, a short sale is a viable alternative to foreclosure