Myth ...Once The Foreclosure Process Starts There Is Not Enough Time To Do A Short Sale?

June 14, 2011 - PRLog -- We recently received a question from Susan about short sales. Here was Susan’s Question.

“My home is scheduled to be going on the courthouse steps in about 2 months. I had thought about short selling, but a friend told me I wouldn’t have enough time to do it.

Because of that I didn’t pursue a short sale earlier. Recently I decided to look into it further. It looks like a good option compared to foreclosure. My question is this.

Do I have enough time to short sale my house, or is the foreclosure already too far along? Please let me know. Sincerely, Susan.”

Here was our answer. Susan, we can still help you with a short sale. Most lenders will postpone a foreclosure when a short sale offer is in place. Yes, a short sale usually takes 2-6 months to process.

However, many lenders will postpone the sale while a short sale is in the works. In addition, some short sales go faster than the normal 2-6 months.

Here in the State of Michigan. The law states that there is a 180 day redemption time frame in which the short sale can be worked out with the lender. This were almost 50% of short sales are approved in Michigan. The only thing that we have found is that there are a few lenders that will not do a short sale after the foreclosure date. So, the Short Sale Process must be started prior to the foreclosure date to be on the safe side.

If your lender owns you loan in house, then the decision maker will be easy to reach. They can approve or deny the short sale in a matter of a week or two.

So, please let us help you. We have a good success rate even when the foreclosure process has already been started. As you well know, a short sale beats a foreclosure because you can buy another home much sooner.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. 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

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