highest number of properties sold as a short sale in the Santa Cruz
County, AZ market peaked in 2012 and since then short sale transactions
have declined year after year due to property values rising.
short sale is a transaction in which the lender, or lenders, agree to
accept less than the mortgage amount owed by the current homeowner.
In some cases, the difference is forgiven by the lender, and in others
the homeowner must make arrangements with the lender to settle the
remainder of the debt.Depending on your financial and legal situation, a
short sale may be an option for a homeowners who are “upside
down” on mortgages because a short sale may not hurt their credit
history as much as a foreclosure. As a result, homeowners may qualify
for another mortgage sooner once they get back on their feet