As short sales in Arizona increase month over month so do the investors and fly by night firms that seek to make a profit during a time of calamity. While it is no secret that scams are always floating around out there it does seem to come as a surprise to many that it’s happening in the foreclosure industry at an alarming rate.

Arizona lender’s start the foreclosure procedure by filing what is called a Notice of Trustee Sale. This notice is then submitted to the county recorder and becomes public information that can be attained by the malicious con artists that are laying in wait as if your money is the prey. There are a number of methods used by these predators ranging from constant spam mail claiming to be offering their services in reducing your loan to pesky phone calls or fliers on your door.

But have no fear! While the sinister companies and investors embark on their campaign of scam and spam there are still many legitimate tips on how to avoid foreclosure scams.

Checking it once, checking it twice: The Department of Housing and Urban Development ( HUD ) has a website that allows for an easy search for government approved foreclosure counseling agencies. This is as good a place to start as any if you’re looking for a legitimate company or wish to check to see if the company that has contacted you can be verified. Their toll free number is (800)-CALL-FHA or (800)-225-5342

Pay to stay: Don’t be fooled into thinking you have to fork over thousands of dollars to some company to garner assistance. Many of the HUD approved companies listed on the website above offer little to no cost services. Be wary of working with any foreclosure assistance companies who require a fee before providing you a solution.

Ask and don’t assume: Pay close attention to anything you sign. Don’t agree to anything on paper if you have any questions. Feel free to ask the company for clarification or even fact check it for yourself. Many fraudulent lenders or investors will try to use a variety of shady tactics like trying to take your home’s equity, offering debt consolidation efforts that they are not licensed to perform or even pressuring you into bankruptcy which only suspends a foreclosure but does not stop it. Remember to have everything in writing and only sign it if you’re comfortable with it and have no further questions on any of the details or process.

Get a second opinion: Some people never take the first box of cereal off the shelf. It’s safe to apply this kind of mentality when seeking foreclosure assistance to avoid a scam. Many reputable companies are offering foreclosure aide in the Phoenix real estate market and all over the valley. It’s always a good idea to talk to two or more agencies before making your decision. Be sure to make a list of questions or concerns before hand so that the level of information gathered from each resource can help you build a better contrast. Then if the first company you sought out is your final choice you can rest easier knowing you made an educated decision and compared.

Lastly, while this isn’t exactly a tip, there are places where you can report foreclosure scams that you have been spammed by or even dealt with and were blind sided. This kind of activity can be reported to the state and local consumer protection agencies found at the Federal Citizen’s Information Center.  While we can’t necessarily stem the rise of Phoenix foreclosures or those across the Valley we can do our part to protect ourselves and each other from those seeking earnings from misfortune.

Owning a home has many benefits. When you make a mortgage payment, you are building equity. And that’s an investment. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities- like insurance, real estate taxes, and upkeep- which can be substantial. But given the freedom, stability, and security of owning your own home, they are worth it.

Owning a home has many benefits. When you make a mortgage payment, you are building equity. And that’s an investment. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities- like insurance, real estate taxes, and upkeep- which can be substantial. But given the freedom, stability, and security of owning your own home, they are worth it.

Owning a home has many benefits. When you make a mortgage payment, you are building equity. And that’s an investment. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities- like insurance, real estate taxes, and upkeep- which can be substantial. But given the freedom, stability, and security of owning your own home, they are worth it.

Owning a home has many benefits. When you make a mortgage payment, you are building equity. And that’s an investment. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities- like insurance, real estate taxes, and upkeep- which can be substantial. But given the freedom, stability, and security of owning your own home, they are worth it.

Combined with the current $8000 first time buyer tax credit or $15,000 Closing Cost Assistance for Foreclosure Phoenix Home Buyers and today’s low home prices, right now is a smart choice, smart time to make your move!

In fact, you will even find many of the new home builders such as Pulte Homes and DR Horton in the Phoenix real estate market are currently offering additional incentives on top of the already low prices.

Please feel free to Contact me direct or find my “Live Chat” button on the bottom of this page and let me share the incentives with you!

If you are interested in seeing the entire MLS properties and/or a particular neighborhood today — head on over to my Arizona Homes For Sale search page on my site.

Are you a fan of Twitter? Would you like to receive real-time updates from Phoenix Arizona Real Estate Homes? If so, check out our Twitter profile page www.Twitter.com/AzRealEstate and be sure to start following me. I look forward to “tweeting” with you!

Are you a fan of Skype? If so, if I’m at my desk then you are welcome to contact me direct on www.Skype.com using my Skype username of ‘candacerobinson’ (no spaces or apostrophes)!

If you have a question about a current listing you are viewing on the Search MLS page or Arizona Real Estate related questions, please don’t hesitate to contact me direct by clicking on the button to your right.

When deciding whether or not to buy a home for the first time, it is essential to compare the benefits of buying versus renting. Renting provides the liberty to move when the lease expires rather than having to wait until you sell your home. On the other hand, landlords can also decide to end your lease, or perhaps have a surprise foreclosure and then you are forced to move. Renting allows you to avoid the cost of maintaining the property and requires less cash up front; however, home owners have the freedom to remodel as they choose and can deduct the cost of home repairs from their taxes. Also, renting throws away money that could be building equity. Isn’t it time you invest in yourself?

When you own your home, your monthly mortgage payment not only pays for you to live in the house but is also an investment. Although you generally invest 10% percent of your own money and 90% of the bank’s money, you receive the benefit of 100% of the house appreciating each year. When you sell your house, you receive money that you would not have received when you are renting. Plus, you can deduct items on your taxes, including interest on your mortgage and property taxes. Another great tax benefit is that you do not pay taxes on any profit you make from the sale of your home. Provided that you choose a fixed rate mortgage, you lock in a consistent payment, while renters should expect a few rent increases over the years.

If you’re considering moving from a rental and need a first time buyer guide, be sure to contact me direct and I can help you find your way!  Currently there are many benefits for first time buyers who choose to buy a home between January 2009 and December 2009 with the $8,000.00 tax credit.

If your are considering buying a Foreclosure in the City of Phoenix limits then you might qualify for the $15,000.00 incentive providing you are prepared to attend some required classes and complete the restrictions of the loan.

With the rates at an all time low and inventory of homes in the Phoenix metro area at an all time high you really should consider purchasing and start the greatest investment of your lifetime.

If you decide that you are ready to buy a house, I would like to help educate you about the process. Please contact me at 480-202-3558 or CRobinson@HSmove.com

Kind Regards,

Candace Robinson
Home Smart Real Estate
Mesa, AZ 85210

Office Phone: 480-202-3558
Cell Phone:
Fax: 602-710-2393
Website: www.PhoenixArizonaRealEstateHomes.com

FHA loan limits vary by county and are usually updated annually. In fact, for the “regular” update for 2009, FHA loan limits actually went down – but with the passage of the stimulus package, they have now went back up to the same loan limits as they were in 2008.

5 Advantages To FHA Loans

1. Usually, the 30 year fixed rate for an FHA loan is lower than conventional loans (usually!)
2. FHA loans never have a prepay penalty
3. Qualifying guidelines are less restrictive than other loan types – for example, you can have a 620 credit score and still possibly qualify for an FHA loan
4. The down payment requirement of 3.5 is lower than the conventional down payment requirement of 5%
5. If you currently have an FHA mortgage, if interest rates drop, you can participate in the FHA streamline program and take advantage of lower rates without having to fully re-qualify for a new loan.

See HUD’s official mortgagee letter outlining 2009 FHA loan limits.

FHA RAISES THE LOAN LIMITS – EFFECTIVE FEBRUARY 25,2009

Owning a home has many benefits. When you make a mortgage payment, you are building equity. And that’s an investment. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities- like insurance, real estate taxes, and upkeep- which can be substantial. But given the freedom, stability, and security of owning your own home, they are worth it.