Christine Loschiavo, www.HomeSweetAzHome.com

This Professionally upgraded and decorated home is conveniently located at Dobson and Warner, one mile from the 101. This 2 bed/2bath home boasts a gourmet kitchen replete with granite counters, stylish lighting, stainless appliances and refinished cabinetry. The greatroom is graced with a vaulted ceiling, fireplace and custom tile. A private patio is perfect for a morning retreat. This home is perfect for young professionals or owners who wish to lock and go. Contact: Christine Loschiavo @ 480.628.0496 to schedule a tour.

www.HomeSweetAzHome.com

Paul and Sharon of Chandler, Arizona, were in a tight spot. Paul, an engineer, had been laid off from his job at a Semi-conductor plant in May. Sharon, a stay-at-home mother of three, thought she was used to the ups and downs of the job market in his field. They were in the habit of saving as much as they could for these periods when Paul was looking for work. But, this lay off had come at a very difficult point.

They had purchased their ‘dream home' eighteen months ago, in a newly constructed planned community. They had decided to use a huge chunk of their savings towards the down payment and the upgrades they really wanted. Paul had been sure his job was stable for a few years. They didn't think it was going to be a big risk to put their savings towards the house. The lay-off caught the family off guard.

By October, they had missed three mortgage payments. They received a notice from the bank that they were going to be foreclosed upon. As Sharon explains, "We were just panic stricken. We knew we were behind but Paul was interviewing. He was going to get a job very soon. We didn't want to lose the house. The kids like the school and we have made friends here".

The received a call from a "Mortgage Rescue" company. The caller, Brad, told Sharon that his company would be able to help her to keep their home. Brad said they had helped many homeowners in the area and would be able to arrange for Paul and Sharon to work things out with the mortgage company. Sharon recalls, "I was very excited. I asked him for references, even. He gave me two names. This guy was really nice and so helpful. He said his company was helping lots of people in Chandler".

As Brad explained the program, his company would lend Paul and Sharon money to make the back-payments on their mortgage. They would then make the monthly payments to his company that included the original mortgage payment plus a payment on the new loan (at 21% interest). Sharon and Paul would sign a deed transferring the property to the rescue company, temporarily, so that the rescue company could work with the mortgage company to save the home from foreclosure. Brad told her that once Paul secured a job and they had regular income, they would pay off the new loan and the deed would be transferred back. Sharon was thrilled that she had possibly found a way out of the mess they were in.

Paul, however, was skeptical. He did not like the idea of a new loan or the requirement to sign over the deed to the house. He did some internet investigating. His search led him to the county District Attorney's office which had information about this fraudulent method of operation. The plan which Brad had outlined to Sharon was a scheme designed to take their home and steal any equity they may have had.

When this scheme plays out, the homeowner signs over the deed to their home which gives the rescue company ownership. The former homeowner has to pay back the rescue company for "bailing' them out. This is always at an exorbitant interest rate. The homeowner ends up renting their former home. If the homeowner fails to make rent payments on time, the rescue company evicts the former owner. All rights and equity in the home are lost and go to the rescue company. Often times the rescue company does not pay the mortgage at all, but keeps all of the money paid to them.

Paul and Sharon decided not to accept Brad's offer of help. They have chosen to go through the foreclosure proceedings and are now looking for an apartment. Bad luck, but it could have been worse for them had taken Brad's claims at face value. They may have not only lost their home but also the money paid to the fraudulent company.

Be Careful. These Rescue Rip-Offs are designed to take your home and steal any equity you have built up. Look for these Red Flags:

· The Rescue Company wants you to sign over the Deed of your home so it can work with your mortgage company to "save" your home from foreclosure.

· The Rescue Company tells you to sign a Deed transferring your home to them and promises that once you have caught up with the past due mortgage payments your home will be transferred back to you.

· You are required to pay a Service Fee to locate a lender or buyer for your home.

For more information: www.homesweetazhome.com

Sometimes Foreclosure is the best option for you. If the bank holding your mortgage will not deal with you and you have no chance of catching up, foreclosure may be your only option. Many times the buyer at the auction will even pay you to move out after they buy the house.

Know all your options, find good, qualified people to help and you'll do just fine. Watch out for Fraud. A lot of sharks prey on homeowners in foreclosure. If something sounds too good to be true it usually is. Remember that fraud depends on trust. The folks that are the best at it always appear to be someone you can trust. They are really, really nice folks. You will really, really like them. They have to be so nice to gain your confidence. Be wary. Sharks can smell your desperation. They know what words you need to hear. Use common sense and don't be afraid to talk to a lawyer, your realtor, your lender, or others about any offers you receive. In Arizona a lawyer has been indicted for falsely claiming to help owners in foreclosure and embezzling their funds. Yikes!

Now, you will not be able to obtain an FHA mortgage for two years and a conventional loan will take even longer (four years). Meanwhile, a reputable Realtor can find you a rental property where the owner may consider a lease option, lease purchase or carryback.

A lease option allows you to rent the property for a year or more and be first in line to purchase it at the end of the contract. Ask your Realtor to negotiate a two year lease option contract.

In a lease purchase, you simultaneously sign a rental agreement and a purchase contract. Your Realtor will help you to negotiate a percentage of your rent to be paid towards the purchase. In today's market with declining property values a lease purchase is a great deal for the seller and a sorry deal for the buyer. The seller is selling the house at today's price but will get only partial payment until the end of the lease contract. Even if the house falls in value, the buyer is bound to purchase the home. No one can accurately predict what home values will be in any given neighborhood in one or two years from now. Not with the financial crises our markets are in. A buyer may be stuck with a purchase price on their contract for a house that has lost value. Not good for the buyer.

A seller carryback can take place only when a seller owns their home outright. They do not hold any mortgages on the property. The seller can then act as the bank. This means the buyer pays a down payment to the seller and then pays monthly ‘mortgage' payments to the seller.

For any of these three choices, use a Realtor to handle your negotiations, draw up your contracts and oversee that the transaction works in your best interest and is legal. What you do not want is to be too hasty and get into a deal that is messier than your foreclosure.

www.HomeSweetAZHome.com

Chandler, Arizona

3 Time Winner

Best Communities

for Young People Award

by the America's Promise Alliance

The winning communities - ranging from small towns to urban neighborhoods across America - are being celebrated for their commitment to provide healthy, safe and caring environments for young people. Chandler was selected for its work on many fronts in the community that offer education and recreational opportunities to young people.

About America's Promise

Founded by retired General Colin L. Powell, following the Presidents' Summit for America's Future in 1997, the America's Promise Alliance includes nonprofit, corporate and community groups as well as individuals across the nation. Alma J. Powell currently serves as chair.

America's Promise is a broad-based alliance whose members work together to ensure the well-being of children and youth. Alliance partners focus attention and resources to help every child receive the Five Promises essential to success: caring adults who are actively involved in their lives; safe places in which to learn and grow; a healthy start toward adulthood; an effective education that builds marketable skills; and opportunities to help others. Read more at: America's Promise website

Why did Chandler Win?

Chandler was selected for its work on many fronts in the community that offer education and recreational opportunities to young people. In 2005, Chandler created the Coalition for Chandler Yourth. The organization built partnerships among governement, non-profit organizations and businesses with the goal of helping young people. The coalition implemented Chandler's Day of Play.. which is a community festival that celebrates our youth. For more information on this year's celbration see: 2008 Chandler Arizona Day of Play Celebration

Chandler and the other winners were chosen by a panel of civic, business and nonprofit leaders. The selection panel evaluated 100 Best entries that required detailed information about each community's efforts to fulfill five essential promises critical to the well-being of young people: caring adults who are actively involved in their lives; safe places in which to learn and grow; a healthy start toward adulthood; an effective education that builds marketable skills; and opportunities to help others.

"We are very proud to be recognized for the efforts we have made in Chandler," Mayor Boyd W. Dunn said. "Everyone in the community understands the importance of young people to our City's vitality and future success.

The Alliance will also sponsor a yearlong celebration including a special day in each of the winning communities and a series of regional forums across the country that will enable communities to share their success stories and learn effective strategies from one another that will further enrich the lives of their young people.

For information on Chandler and the Phoenix East Valley Real Estate: www.homesweetazhome.com

The Secret

to why Chandler, Arizona

is one of America's 100 Best Places to Live!

(actually we're #30)

Besides the more than 300 sun-filled days a year and average temperature of 72.6 degrees, why is Chandler so great?

Maybe it's our Award winning schools (Chandler Unified School District),

or Active community (Chandler Parks and Recreation)

or Steady Job Market (Top Chandler Employers).

Chandler is a fast growing suburb of Phoenix that boasts award winning schools, hi-tech employers and dizzying selection of activities. Within a 15 mile radius, you'll find 48 movie theaters, 266 golf courses, 54 libraries, 201 bars and 3602 restaurants. (If you went to a new place to eat everyday, it would take you almost 10 years to sample all of our restaruants) The highest income tax rate is a mere 4.54% compared to the country average of 5.22% The job growth rate from the years 2000-2007 - a whopping 37.58%. The median home price is $270,000 and average property taxes are $1713.

Ready to pack your bags?

Find out why: Money Magazine August, 2008 Best Places to Live

www.HomeSweetAzHome.com