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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, I have information
YOU NEED NOW!
If you qualify, I 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 are moving, or do not
want to live in your home any longer. And, a short sale is
usually the preferred option of lenders
compared to a foreclosure. You may be able to walk away
from your mortgage 'debt-free'. Call me now
to see if you can turn your hardship into an opportunity!
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 me at
734.629.7222 to see if you are a candidate for this opportunity.
Of course our discussion will be confidential, and there will be
no obligation. You may be
able to walk away from your mortgage with no closing costs (*) to you,
because in a short sale the lender pays real estate commissions and other
closing costs.
(*) You may have to pay
a $75 Title Search Fee to a Title Company
at the time you receive a purchase offer.
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.
Delay is the deadliest form of denial.
C. Northcote Parkinson (English Historian and
Writer
1909-1993)
- See Sample Short
Sale Listings
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Get a Market Snapshot of your Home
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Foreclosure
is a legal process by which a bank, mortgage company or
other creditor takes a homeowner’s property in order to
satisfy a debt. The foreclosure is the result of
non-payment of the mortgage (including second mortgages
and home equity loans); however, people also lose their
homes due to unpaid property taxes. As a result of the
foreclosure (at the end of the redemption period), the
homeowner loses the rights he or she had to the
property.
You can stop a foreclosure with a short sale. Call
Roy Wysack to see how - 734.629.7222
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Alternatives to Foreclosure
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.
This arrangement 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.
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