We recently received a question from Tawny. Here is Tawny’s Question.
“I have not been late on any payments but my income will be changing dramatically towards the end of the summer. What is your exact service and what are the fees involved?
I do not have any cash in savings and pretty much live paycheck to paycheck. Tawny.”
Here is the answer to Tawny’s Question: A Short Sale doesn’t cost the homeowner any money. All of the costs are paid for by the homeowner’s lender.
Now, I’m sure you are asking, “The bank is losing money on the short sale. They wouldn’t want to have to pay to sell the property.”
Many people also think this. After all, it makes sense logically. But, it’s actually not the case.
Banks have been lending money for centuries. They have learned from past experience that a short sale is a good way to cut their losses.
In fact, a recent study by the Boston Consulting Group actually showed that a short sale reduced a lender’s losses by 20%, compared to a foreclosure.
After a lender forecloses on a property they put it up for sale. They have to hire and pay a real estate agent and all the other related costs.
Why not pay those costs on a short sale and cut their losses by 20%? It’s a good business decision. And that’s why a short sale doesn’t cost the homeowner anything.
Your lender covers all the cost including the real estate agent, title fees, and other closing costs. Thinking about a short sale?
I can help you short sale your property and never pay the bank another penny. Send me Rick Giese an e-mail at rick@rickgiese.com I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me Rick Giese at Toll Free 1-800-274-5656
Discover how other sellers successfully completed a short sale and request a free consultation by going to: http://www.macombforeclosurehelp.com/
Thanks for reading, Rick Giese.
Rick Giese is a real estate associate broker at RE/MAX Advisors.
Phone Toll Free: 1-800-274-5656. email: Rick@RickGiese.com
Rick Giese specializes in loan modification assistance and short sales in the Macomb County Area of Michigan. Macomb Loan Modification Help, Macomb Short Sale Help. Macomb County MI our services are offering sellers another option besides pre-foreclosure foreclosure or bankruptcy that can effect their credit for years. We are currently offering our services in the Richmond, Shelby Township, Macomb Township, Chesterfield Township, New Baltimore, Clinton Township, Sterling Heights, Mount Clemens (Mt Clemens) Fraser, Harrison Township, Warren, Roseville, St Clair Shores areas of Macomb County Michigan
