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Follow on Google News | Macomb County Michigan Short Sale Specialist - FREE Realtor Help!A short sale is always FREE! Our short sale experts work with your lender to ensure they cover all the costs of the short sale process. Let's get you back on your feet. Call Rick Giese at 586-242-3100 Learn more here www.miforeclosurehelp.com
By: RE/MAX Advisors Rick Giese A Short Sale is typically a win-win solution for the homeowner as well as the lender. It typically costs a lender on average $58,000 to go through foreclosure proceedings. Therefore making a short sale can be in the homeowner's advantage as well as the lenders. The homeowner's credit takes a smaller hit than had a foreclosure been done. Also in most cases, the lender waives his right to pursue judgment on the amount owed at a later date. In a short sale, the homeowner sells their property for less than what is owed on the property. The lender must accept the discounted payoff and cut their losses. As your agent Rick Giese will work with your lender to get a total release from the debt owed, forgiving you completely. A successfully completed short sale appears on your credit as "Paid In Full." Your home will be sold and the mortgage will be considered completely paid off, all while avoiding bankruptcy or foreclosure. Your credit takes a much smaller hit from a short sale and recovers much more quickly! What are the Benefits of a Short Sale? · Once a short sale has been completed, foreclosure has been avoided. A Foreclosure can damage your credit for up to 7 years whereas a short sale has a much less negative effect. · Your lender will cover all traditional sellers' closing costs, including any real estate commissions. The short sale transaction is completely free to you! · Your home gets sold and you can move on with your life! Can investment properties be short sold? Yes! Any type of property can be sold through a short sale. What is a Hardship? · Loss of income · Loss of job · Illness · Divorce or separation · Relocation · Death of a family member · Repairs needed with no resources to do so What Happens If I Don’t Do a Short Sale or my Short Sale is Unsuccessful? Either way the end result would be foreclosure. This is why it's much better to at least try a short sale. What makes a short sale so much better than foreclosure? · Short Sales are much more private than foreclosures. No one even has to know if you go through the short sale process. However, a foreclosure is public information and can be seen by anyone, including future and present employers. · Our agents will work hard to get your lender to release you from the debt completely. The lender would waive their right to pursue a deficiency judgment at a later date for the money owed. When it comes to foreclosure, lenders have the right to come after homeowners for the debt owed. · A foreclosure stays on your credit whereas a short sale shows up as “Paid in Full.” · After completing a short sale, you can qualify for a Fannie Mae loan in as little as two years, but with a foreclosure you must wait five years. Don’t make foreclosure an option! Call Rick Giese today at RE/MAX Advisors at 586-242-3100 to discuss your situation... Remember, the short sale process should never cost you as much as a penny! End
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