Why Foreclosure? You Do Have Options To Avoid It In Cave Creek
By Tony and Suzanne Marriott, Associate Brokers, Coldwell Banker Realty
(Serving the Greater Phoenix and Scottsdale Metropolitan Area)
Although we no longer see the levels of Short Sales that we did a few years ago in Cave Creek, Notices of Default continue to be issued, meaning that yet another Cave Creek property is on the path towards foreclosure at auction on the courthouse steps. Suzanne and I wonder why the owners would allow the property to go to foreclosure, rather than investigate alternatives that may be mutually beneficial to themselves and their lenders. Not all properties heading for foreclosure are necessarily "under water" - which theoretically means they could be sold via a "traditional" sale rather than a "short sale" - but circumstances may mean there are other liens attached or other factors that inhibit or prevent the owners from selling the property - whether or not it's a short sale. Short Sales a...
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