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Mary Maxie » Short Sale Foolishness

Short Sale Foolishness

Short Sale Foolishness
Picture this scene: you & I are both underwater on our houses. Our two banks are willing to short sale both houses for 40% less than what we owe. Banks will allow us to sell to each other (with some finagling & changing things around) & have to move into each other’s houses, but won’t let us stay in our own homes and give us 40% off. How foolish! If the bank would take 40% off plus lower the interest rate we’re paying to what they are offering new borrowers, we could afford to stay in our own houses & make the payments. Yet they make us move out & rent for a couple of years, before allowing us to take out another mortgage on another underwater house & make those sellers move. The whole thing is a mess.

Want to know more about the Phoenix Scottsdale home scene?
Interested in learning about short sales & how they affect your credit?
Call or email for free info on the following:
*Register for frequent MLS updates on your new Arizona Home at
*Disclosure issues affecting Phoenix Home buying
*Shopping, Golf, Sports, Critter Report, Arizona Living
*Maxiemize Lifestyle with PhoenixAreaCanadianRealtor 602-738-6597
Mary Maxie, Associate Broker, Prudential Arizona Properties
Frequent updates at my blog

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