Many people find themselves asking where the difference goes in a short sale or foreclosure. Many homeowners, as they are evaluating their short sale options, are concerned that the banks will later come after them for the balance between the sale and what was owed.
Arizona is one of just a few “Anti-Deficiency States,” which provides some protection to homeowners, though having an experienced short sale professional working with you is of huge benefit in assuring that all your bases are covered and to assure that the loss to the mortgage company is marked as settled.
I encourage you to watch this video clip. If you have any further questions about short sales or avoiding foreclosure, please call me at 480.354.7344 or use the Short Sale Calculator to see how you stand.