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Chad Kamp, PLLC
3150 S Gilbert Rd, Ste #4
Chandler, AZ 85286
Office: 480-730-3315
Cell: 480-205-6597
Email: chadkamp@kamprealty.com
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Chads Blog
Short Sale
Short sale is a term that has been around the real estate industry for years but has come to light to the general public recently.  You may be asking yourself, "What exactly is a short sale?"

A short sale may become necessary when an individual owes more to the bank then the home is worth.  Essentially a short sale is the process of receiving authorization from the bank to sell the home for less then what is owed to them.  

Why would I need to do a short sale?  There are numerous reasons one may need to pursue a short sale (ie. loss of job, adjustable rate maturing, etc.)

If you are in jeopardy of loosing your home due to foreclosure a short sale may be in your best interest.  The effects on your credit report will not be as drastic as a foreclosure.  Protecting your credit is extremely important in obtaining additional credit whether it be in the form of credit cards, auto loans, or being able to purcahse another home much faster when your financial situation improves.  

I have received short sale certification by the American Building and Realty Association so I am equipped to assist in any manner possible.  If you would like more information or want to explore your options please feel free to give me a call to discuss further at 480 205 6597.  

 
Posted By - Chad - 01/23/2009
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Comments:
Can I do a short sale if I have 2 mortgages?
Posted By - T - 01/27/2009
Short sales with more then 1 lender can be done. I won't lie to you it's tricky, but when dealing with a first and a second mortgage or even a Home Equity Line of Credit (Heloc) they can be accomplished. Conducting a short sale is a good option to satisfy your obligation to the bank, where both side wins.
Posted By - Chad Kamp - 01/28/2009


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