Surprise Real Estate By Mike Horton

This blog contains information obtained from more than 2 years of working with short sale homes and bank owned or REO homes. Working with short sales has become a more complicated process as the lenders have become specific in their own requirements to approve the transaction. Find out more to insure your home or your agent is looking at the process and complications of selling or buying one of these homes

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• Short Sale Home - Nobody home - Do I drop the home insurance to save money?

  Dropping the home owners insurance when you have left your home and you are short selling the home could be a disaster! In a distressed home sale, homeowners that are no longer making their mortgage payments often forget about the home insurance. If you Read More... Posted Wednesday, November 10, 2010 11:38 PM by Mike Horton | 0 Comments Filed under: distressed properties, short sale, foreclosure, deficiency, distressed sale, sale contracts, short sale addendum

• Strategic Default - is it a moral question or only a financial decision?

  You own a home purchased for $400,000 and now it valued at $200,000. Do you take a foreclosure or short sale the property even if you can afford to make the payments? Regardless of how much you paid for the home, if you are going to let it go to foreclosure Read More... Posted Sunday, October 17, 2010 10:32 PM by Mike Horton | 0 Comments Filed under: lien, foreclosure, deficiency, home mortgage, distressed sale

• Can your lien holder get a judgement after a short sale?

  Anti deficiency ARS 33-814 provides protection to the borrowers in some cases against a deficiency judgement when their property has gone through a foreclosure. In many cases, it appears the lenders are recognizing the limitations this statute puts on Read More... Posted Friday, September 11, 2009 8:58 PM by Mike Horton | 0 Comments Filed under: distressed properties, sellers, lien, short sale, foreclosure, deficiency, buyers