| HOME | BUYERS | SELLERS | IMPORTANT LINKS | TESTIMONIALS | CONTACT |
If you are reading this page, you are not alone! If you are facing foreclosure in Michigan, or having a hard time making your mortgage payments, we have information YOU NEED NOW! If you qualify, we will be able to discuss your situation with your lender and possibly negotiate an alternative to foreclosure on your behalf through a loan modification or 'SHORT SALE' (see below) A Short Sale is your best option if you have to move, or cannot afford to live in your home any longer. And, a Short Sale is usually the preferred option of lenders compared to a foreclosure. If you have a legitimate hardship preventing you from paying your mortgage, you may qualify for a Short Sale, and you may be able to become fully released from future liability of your mortgage debt. Call us now to get help! Understand your options - FREE CONSULTATION - Understand your rights
A Short Sale will do less damage to your credit than a foreclosure when you have a cooperating lender. This will enable you to recover from your current problems faster and get a second chance sooner. Call 734.629.7222 to explore Short Sale options. Of course our discussion will be confidential, and there will be no obligation. You may be able to avoid foreclosure and walk away from your mortgage with no costs (*) to you, because in a Short Sale the lender pays real estate commissions and other closing costs. (*) You may have to pay a $100 Title Search Fee to a Title Company at the time you receive a purchase offer for your Short Sale Listing. Some vacant and co-listed properties may require a non-refundable $500.00 short sale service fee.
Click Here to see where you are on the Michigan Foreclosure Timeline, then contact me today to start on a positive path of recovery and a second chance. It only takes a few minutes to see if you are a potential candidate for a Short Sale.
Delay is the deadliest form of denial. C. Northcote Parkinson (English Historian and Writer 1909-1993)
- See Sample Short Sale Listings - Get a Market Snapshot of your Home
Your lender may be willing to work out an alternative to foreclosure that may help you save your home, or at least to prevent a foreclosure from ruining your credit.
SOME ALTERNATIVES INCLUDE:
1. Repayment Plan: Your lender may give you a fixed amount of time to repay the amount you are behind, plus any late fees, by adding a portion to your regular monthly payment. This is a good option if you only missed a few payments.
2. Forbearance: Your lender may agree to suspend your payments for a period of time. At the end of this time, you will resume your regular monthly payments, and you may be required to either make one lump sum payment or additional partial payments. This may be a good option if you have a temporary reduction in income.
3. Loan Modification: Your lender may agree to reduce your interest rate, extend the term of the loan, or add missed payments to the loan balance.
4. Selling Your Home: Depending on the strength of the housing market in your area, selling may provide funds needed to pay the mortgage debt in full. In a “Short Sale,” the lender allows you to sell and agrees to forgive any shortfall between the sale price and the mortgage balance. A Short Sale will be less damaging to your credit than a foreclosure.
5. Deed in Lieu of Foreclosure: You voluntarily transfer title to the lender in exchange for cancellation of the remainder of your debt, but you will lose any equity in the home and may have to pay taxes on the debt forgiven. A sale or a deed in lieu of foreclosure may be a better alternative than a foreclosure adversely affecting your credit. |
 |
Roy Wysack - Realtor, ABR, e-PRO,
SFR Keller Williams Realty, Plymouth Market Center 40600 Ann Arbor Rd., Suite 100 Plymouth, MI 48170 phone: 734.629.7222 FAX: 888.807.7832 E-mail: roy@ask4roy.com |
