Macomb Short Sale Help: Should I Short Sale or Keep trying to Save the House?

May 15, 2011 - PRLog -- We receive calls all the time that go something like this “I have fought the bank for year and half, and after paying thousands and thousands I have decided to short sale, can you help me”?

Because of this, I decided to break down the reasons to short sale your home. In addition I added in a few reasons you should NOT consider A Short Sale:

Do NOT Short Sale if the value of your home is appreciating more then 5% a year. I have found that once you are upside down on your home more than 10%, then in most cases the housing market has dug a hole that no amount of financial superman work can get you out of.

Short Sale if you are a financial superman. If you are a CPA or Harvard Grad Number Cruncher, then you understand that numbers are more important than warm and fuzzy thinking.

Take a look at GM and all the businesses that go “Short Sale.” You can call it that. They know the numbers the numbers are what matter to them. If you are too far upside down, then is better to walk away from the debt and start over.

Do NOT Short Sale if you are going to make TONS of money in the future! You can probably convince your lender to grant you a loan modification and get back on your feet.

Short Sale if you can find a rental home comparable to your home. You have to live somewhere. We have seen lots of homeowners find a nicer home to rent for a lower monthly payment than their “upside down” home.

They Short Sold their house and were able to live a happier, more stress free life afterwards.

Do NOT Short Sale if you think that you are different from large Wall Street Firms that willingly walk away from their obligations.

You believe that your finances should not be run like a business, you should never retire, and that people in debt deserve to work 80 hours a week for the rest of their life until they pay off their debt.

This one drives me nuts. It is ok for Morgan Stanley to strategically walk away from their obligations on 5 San Francisco Towers they bought, but it’s not ok for “Average Joe Homeowner” to walk away from his upside down house?

What is wrong with the moral compass here? It is ok for a business to re-negotiate their debts with banks, but it is wrong for a homeowner to do it!

Are you crazy? Why do banks write off millions in debt for businesses while the homeowners should pay forever and never get a real loan mod? I guess they figure that homeowners not good business people and will allow the bank to push them around.

As you can see, when you run the numbers Short Sales almost ALWAYS make financial sense. Staying in a home that is upside down makes lousy financial sense, unless you get an awesome loan mod.

Now those are my opinions, and those points do not apply to every situation. What I am saying is that you really should look at your home as a financial investment, NOT a stone around your neck.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me 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 clicking here. http://www.macombforeclosurehelp.com/

Thanks for reading this, Rick Giese.

Rick is a Real Estate Associate Broker at RE/MAX Advisors. Macomb and Oakland County Short Sales Realtor:

Phone: 1-800-274-5656. rick@rickgiese.com.

View My homes for sale at http://www.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 affect 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

IMPORTANT GOVERNMENT DISCLOSURE: You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender (or servicer). If you reject the offer, you will not have to pay us for our services. The above brokerage is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.

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As one of Macomb Counties MI leading Short Sale experts. Rick Giese wrote this article to Help ensure that homeowners were and are being given sound advice about How to Stop and Avoid Foreclosure