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www.MIForeclosureHelp.com Gives Homeowners FREE Information to the Alternatives to Foreclosure
Loan Modification? Short Sale? Deed-in-Lieu of Foreclosure? What's an upside down struggling property owner to do?
You must enter the process informed.
If you owe more on your home or investment property than it's worth and can no longer afford the payments, you've got options and this site provides fast and easy access to all sorts of free tools, information, and resources, including HUD-certified counselors who will assist you in exploring your options for free.
Whether you seek to modify your loan in order to keep your property or wish to speak with a short sale advisor about avoiding foreclosure by selling your home for less than is owed, you'll find information here that will help you immensely.
Right now you can also get a FREE copy of my $37.00 book, The Homeowner's Guide to Real Estate Short Sales. Just by clicking here. This easy-to-understand, step-by-step instruction guide describes how banks operate in the negotiation process and also includes the tools and forms required to short sell your home or investment property.
What's A Short Sale?
A short sale occurs when the lender agrees to take less than the full amount required to pay off existing loans in full because the outstanding loan balance is greater than the proceeds realized from the sale of the property.
This sounds simple enough and is the definition most agents will give you. The problem is in the details. The terms of the approval are almost always dictated by the lender. Most sellers and many agents assume any approval is a "good approval", which is often not the case.
If you're considering a real estate short sale there are things you need to know before speaking to your lender. Consulting with a M.A.R.S. compliant, licensed professional versed in short sales and the foreclosure process is a must.
Why Would My Lender Accept Less Than Is Owed?
Knowing why and how much your lender does not want to foreclose on your home is crucial to the negotiating process. It's oftentimes much more expensive for the lender to modify your loan than it is to simply foreclose on you and sell it, or accept a short offer and pay all the associated sales costs.
Of course your lender would prefer that you stay in your home and continue making payments but selling it and getting the "bad asset" off their books is frequently their next favorite choice. Many lenders will negotiate short sale terms quite favorable to you, oftentimes allowing you to walk away for free and with zero delinquency judgments.
A successful no cost short sale with zero deficiency judgments looming in your future can be possible if you work with an expert team to get it done.
Will I Qualify For A Short Sale?
Has Your Home's Market Value Dropped?
Whether you're doing a loan modification or short sale, hard comparable sales will be used to substantiate that your property is worth less than the unpaid balance owed the lender. I provide a comprehensive property value report designed to determine your properties 30, 60 and 90 day sales price value - the same info your lender will want. Get a FREE Home Valuation Report.
Is Your Mortgage Currently In Default or Are You Concerned That It Soon Will Be?
It used to be that lenders would not even consider a loan modification or short sale if your payments were current, but not anymore. Realizing that other factors contribute to a potential default, many lenders are eager to head off future problems at the pass.
Many lenders no longer require that you be late on your payments however you must be able to convince them with your hardship letter and financial records that you're concerned about your ability to continue making payments.
Have You Fallen on Hard Times?
Have you experienced a job loss, cut back in work hours, divorce, death or any other challenge that is hampering your ability to make your monthly payments? You must be able to prove financial hardship. If you've answered yes to all of these questions, you're probably an ideal candidate for a real estate short sale.
Take this simple Quick Qualifier Quiz to determine the likelihood of whether or not you'll qualify for a short sale.
Thanks for reading, Rick Giese.
Visit My Loan Modification Website www.miloanmodhelpdesk.com/
Visit My Short Sale Website www.miforeclosurehelp.com/
Visit My Short Sale or Stay Calculator Site www.mishortorstay.com
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 , Oakland and southern St Clair County Areas of Michigan. Macomb Loan Modification Help, Macomb Short Sale Help. Oakland Short Sale Help Macomb and Oakland 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 Madison Heights, Troy, Clawson, Royal Oak, Rochester, Rochester Hills, Berkley, Birmingham areas of Oakland County
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In 2011, Rick Giese with RE/MAX Advisors closed more short sale transactions than any Realtor or Broker in Southeastern Michigan; Rick Giese has helped hundreds of Southeastern Michigan families avoid foreclosure. Rick Giese said, “Sellers facing foreclosure must remember that banks are not looking out for you or your family. When you work with Rick Giese and his team, our job is to get between you and the bank. We represent our clients, NOT the banks. It is our job to negotiate the best possible outcome for you. Ultimately, our job is to take away the stress, protect our client’s assets, and make the transaction as smooth and stress-free as possible.”