Is keeping up with your home mortgage starting to seem like an impossible feat? If the time comes when you feel like there is no end in sight with debt and no possible way to make ends meet, it might be time to consider a Phoenix short sale. While Phoenix short sales may not be for everyone, they are certainly a viable option for those in a financial situation they cannot keep up with.

You are probably wondering what exactly a Phoenix short sale is. Basically, it is the process of selling your property for less than what you currently owe the lender. That way, you get out of your mortgage payments without the devastation of a foreclosure on your home and the detriment to your future buying power.

Getting started on a Phoenix short sale is easy. That is, if the proper steps are taken. First, know that there are over 70,000 licensed real estate agents in the Phoenix metropolitan area, but only about 1% of them specialize in short sales. While searching for that 1% can be tough, short sale agents are relatively easy to find.

Before finding the perfect agent for you, you need to see if you are qualified to do a short sale. Ultimately, you need to prove to your bank that you have a legitimate financial hardship that will encourage them to work with you. That doesn’t mean you give them a sob story about your circumstance, but rather show them that you are committed and willing to take the proper course of action for your home.

Then you find an agent and a buyer. Do your research! Find the right agent for you by spending some time on the internet, asking friends and family members, and investigating different realtors. If your bank has already scheduled a foreclosure auction date, there may still be time to for a buy to make offer to them. Many lenders are willing to postpone a foreclosure auction date if you can present them with accurate financial information and an offer for a short sale.