Do NOT get foreclosed on! Avoid foreclosure. The Bank Pays us to Short Sell your Home....and may even pay YOU to Short Sell your Home! You may qualify for a short sale but before you decide you should do a little research to be sure it is the best path for you.  We have provided the links below to help you decide.

Internal Revenue Service

Under the Mortgage Relief Act of 2009, The Mortgage Forgiveness Debt Relief Act and Debt Cancellation, you may qualify for cancelation of the tax normally levied on the homeowner.  Check out the source, IRS to find out if you qualify. 
http://www.irs.gov/individuals/article/0,,id=179414,00.html

You may also want to read up on insolvency and what the IRS will allow as cancelled debt.  http://www.irs.gov/publications/p4681/ch01.html#en_US_publink1000244114
 

Arizona Revised Statutes

Title 33 of the Arizona Revised Statues governs real estate and propery ownership.  Specific to mortgages and foreclosures in Arizona you should familiarize yourself with Chapter 6 Article 2.  Arizona is a Non-Recourse state but the protection is limited. http://www.azleg.state.az.us/ArizonaRevisedStatutes.asp?Title=33
 

AZ Foreclosure Law: http://www.foreclosurelaw.org/Arizona_Foreclosure_Law.htm
 

Legal, Credit and Informational resource (for informational purposes)

Arizona Association of Realtors, Short Sale Advisory, http://www.aaronline.com/documents/ssseller_advisory.aspx
 

Legal Resource:  http://www.keytlaw.com/az/realestate/azrelaw.htm
 

Consumer Credit Counseling: http://www.cccsatl.org/
 

Hope for Home Owners: http://www.hud.gov/hopeforhomeowners/index.cfm
 

Making Homes Affordable Modification info (HAMP): http://www.makinghomeaffordable.com/modification_eligibility.html
http://www.makinghomeaffordable.com/refinance_eligibility.html
 

Info regarding HAFA (Home Affordable Foreclosure Alternatives): http://www.realtor.org/government_affairs/short_sales_hafa
 

https://www.hmpadmin.com/portal/programs/foreclosure_alternatives.html
 

A list of servicers participating in HAMP (including HAFA) is available at: www.makinghomeaffordable.com/contact_servicer.html
 

For frequently asked Short Sale Questions check out our Short Sale FAQ section.

At REAL PROS^TM ARIZONA, we strive to present the most informative and easily navigable real estate website for the Phoenix Real Estate Market.  We assist distressed Arizona real estate owners avoid foreclosure by short selling their real estate.  At myREALPROS.com you can search the Arizona Multiple Listing Service (ARMLS) for Residential and Commercial Real Estate For Sale or Real Estate For Rent.  Shop for homes throughout the Phoenix Arizona Real Estate Market.  Receive Free Professional House Valuation for Real Estate you own in and around Phoenix Arizona.  Search for Rental Homes, Townhouses and Apartments using our Rental House Search Engine .  View luxury homes for sale in in prestigious Phoenix Arizona Neighborhoods.  Subscribe to our Home Owner News , an Informative Real Estate Newsletter with valuable tips and tricks and a fresh perspective on the Phoenix Real Estate Market.  Read the latest Real Estate news for the entire valley of the Sun including our Blog.

Short Sale Disclaimer
Website visitor and all clients acknowledge that Broker/Agent is not qualified to provide financial, legal, or tax advice regarding a short sale transaction. Therefore, the Seller is advised to obtain professional tax advice and consult independent legal counsel immediately regarding the tax implications and advisability of entering into a short sale agreement.

Listing Disclaimer 
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 

Mortgage Assistance Relief Services (MARS) Disclosure
(a) REAL PROS Arizona is not associated with the government, and our service is not approved by the government or your lender.  (b) Even if you accept this offer and use our service, your lender may not agree to change your loan.