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Strategic Default Explained by Macomb Michigan Short Sale Specialist and Default Advocate Rick Giese
Looking for Macomb, Oakland and Southern St Clair Counties short sale information? You have come to the right place. Rick Giese Certified Default Advocate, Distressed Property Expert
Looking for Macomb, Oakland and Southern St Clair Counties short sale information?
What exactly is a Strategic Default you ask? Basically a Strategic Default is when a homeowner truly can afford to make the payment but because the property, be it their principle residence or investment property, is either so far upside down that it will be 10 or more years if ever before the property is worth what they owe or is such a large negative cash flow or both that it just doesn't make sense to keep the property any longer and allow it to be either foreclosed on or short sale.
Macomb County Michigan Foreclosure Alternatives Advisor -- Rick Giese Specialist
A recent survey from Zillow, the on line housing site, stated that 71% of economists and 59% of homeowners who completed the survey said they would never consider Strategic Default even if their property was 40% or more upside down with 37% citing moral issues for their decision.
Now that is an interesting observation but what comes to mind for me is, HOW many of those surveyed really were 40% or more upside down? I ask because it is easy to be an arm chair quarterback and say what you would or wouldn't do if you are not in that situation. If you are 40% upside down in your mortgage, based on average appreciation, it will take 22 years +/- for that property to get back to what you owe. If it is an investment property and you have negative cash flow on the property after your tax incentives, is that an investment or a hobby? Remember a hobby is something you enjoy and don't mind paying for. An investment should bring you a positive return on your money at some point.
To Strategically Default is a personal decision that only you can make. In these uncertain times and favorable tax laws it only makes sense to do what is right for you and your family. Who cares what anyone else thinks or says? The only thing that matters right now is what is best for you and your family. The banks will recover -- heck they already have.
If you have an underperforming asset or are not sure where to turn, give me a call and we can discuss your options. At least then you will have all the facts you need to make a good business decision that is right for your situation
is a Macomb County Michigan Short Sale Right for Me?
To get a better idea of when your Macomb County Michigan home will be worth what you owe, log in to http://www.mishortorstay.com answer a couple of easy questions, and our computerizes system will send you a free no obligation assessment to hold long before your property will be a investment again. Or call me Rick Giese at RE/MAX Advisors today at 1-800-274-5656 for a free no obligation consultation or for the latest Macomb County Michigan short sale information. Call me today and sleep better tonight; you'll be glad you did
If you are a homeowner who has missed payments, possibly facing foreclosure, owe more than your home is worth or are just looking for short sale information, please call Rick Giese, associate broker at RE/MAX Advisors, Short Sale Specialist and Default Advocate at 1-800-274-5656 or email rick@rickgiese for a free no obligation confidential consultation and receive the latest information on your options to avoid foreclosure and the benefits of a short sale.
Learn More about Rick and his expertise at http://www.miforeclosurehelp.com/
if you owe more than your home is worth, want to know how long in today’s present market it will take until your home is worth what you owe? Check out our calculator at http://www.mishortorstay.com
Consistently ranked as one of Southeastern Michigan’s top Short Sale Agents and Specialist, Rick Giese is one of the areas premiere Certified Default Advocates. With his strong focus on assisting homeowners in need, Rick offers a straightforward no nonsense consultation designed to give you all the information and facts to enable you to make the best decision for you and your family. As every situation is different, Rick offers his insight and knowledge of the default process and all the options available to you to avoid foreclosure. Rick’s experience of representing both homeowners in distress avoids foreclosure and his insider knowledge of the default process makes' Rick’s experience unique. Trained and personally coached by the former Chief Loss Mitigator of IndyMac bank, Rick understands what the banks are looking for and how best to assist you in your time of need. Call Rick Giese today at toll free 1-800-274-5656 for your free consultation and sleep better tonight
Thanks for reading, Rick Giese.
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