Macomb and Oakland County Lenders are Primed to Help Homeowners Avoid Foreclosure With Short Sales

Jan. 8, 2011 - PRLog -- Short sales are a terrific option for homeowners struggling with unaffordable mortgage payments. In fact, lenders’ losses due to foreclosure are projected to increase at record rates in 2011, giving them more reason to pursue short sales. Lenders are projected to incur losses as severe as 85 percent in foreclosure! Meaning, after deducting the expense of the foreclosure process on a $100,000 loan, they may only get back $15,000!

It’s common sense that lenders will be looking toward the short sale solution. Even though they are accepting less than is owed on the property, they lose far less than in a foreclosure sale.

In fact, in the Macomb and Oakland County area of Michigan, short sale transactions have increased by over 110% in the past year

It may be a surprise to many that lenders actually want to work out a solution that benefits all parties. Oftentimes, the lender is seen as the villain in the situation. I’ve found that the lenders want to avoid foreclosure just as much as homeowners. The free, downloadable reports on this website talk more about working with your lender, and details all the foreclosure alternatives available to you.

To download reports see http://www.macombforeclosurehelp.com
Or call me Rick Giese at Toll Free 1-800-274-5656 today; I can help you develop a plan to work with your lender and avoid foreclosure.

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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