Want To Sell Your Home But Owe More Than It is Worth?
Discover How You Can Sell WITHOUT Having To Bring ANY Money To Closing!
Create Your Best Available Legal & Financial Outcome Now
Kathy Toth, Co-Author of Should I Short Sale My Home? will explain in detail:
- How to get your bank to take a lower payoff and write off the balance
- How to minimize the damage to your credit
- How to minimize the stress on your family
- How to live in your house extra months for free even if you can’t afford the payments
- How to stop the harassing phone calls and finally get a good night’s sleep
- Put the foreclosure process on hold
- Have the lender pay all the selling costs, including our commission
- How to put yourself in a position that could help you buy your next home much sooner
- Possible referrals to qualified tax and legal advisors if needed
- How to take advantage of our short sale program
Call To Learn More (734) 426-6669
Ask about our Short Sale Book that will explain all of your options.
Of course there is no obligation to use any of the services or resources provided.
The consultation is 100% free so you have nothing to lose. Our goal is for you to find your best option whether you choose to use our services or not and to help as many struggling homeowners as to possible to achieve financial recovery.
Move on to better memories and find the best solution that is legally available while you can still control the outcome. Protect your family from the stress of a foreclosure!
Remember, in a situation like this time is not on your side. The housing market is still coming down and the faster we get your home sold the better your chances are of getting it done before the bank takes it away. The longer we wait the tougher the lender(s) will be to deal with and the less interested in helping you. Beyond a certain point we will not be able to get you the same outcome! Your situation can have serious legal, tax and financial circumstances if it is not handled properly and quickly.
Each situation is different and lender policies change without notice so no guarantees of a certain outcome can be made. We strongly urge our clients to get tax and legal advice from qualified professionals before making important decisions such as this. We are pleased to offer referrals to those professionals upon request. References are available.
We are Michigan Short Sale Marketing Experts
Are you behind or about to be behind on your Mortgage Payments?
In Michigan it is more and more common for a homeowner to find himself/herself in a hardship situation when they are no longer able to make their mortgage payments, due to a variable interest rate that has changed, divorce, illness, job loss or a variety of other reasons. Sometimes a homeowner is current on their mortgage payment, but just got a new job out of state and must sell their home. There is a big difference between a short sale and a foreclosure on your record.
A short sale might be an option because the homeowner owes $300,000 on their mortgage, but can only sell their house for $200,000 because of current market conditions. Since the homeowner must sell their home, and the homeowner does not have the ability to bring the difference of what they can sell the house for and what is owed, in this case $100,000, then this might be a good case for a short sale.
Time Sensitive Real Estate Transaction
We work with your lender by partnering with the Title Company, which specializes in working with your lender and their particular documents. We can also point you in the direction necessary to have an attorney review all proposals offered by your lender. It’s critical that when you make the decision to short sale your house, you put your trust with a real estate agent that has experience and a successful past track record in marketing short sales.
Keep in mind if the process isn’t handled 100% correctly from the beginning you will run out of time and your home will go into foreclosure. This isn’t a normal real estate transaction where if the home doesn’t sell you can just re-list with another real estate agent. Once you stop making payments, the time clock begins. I tell you this so you know the importance of calling an expert agent.
The Benefit of a Short Sale over a Foreclosure
If you participate in a short sale, and the company you hire is successful in getting the bank to accept short of what is owed to them on your mortgage, your credit will only show 30-60-90 day late payments, contrary to an actual foreclosure on your record. If you foreclose on your home, you will not be able to get another mortgage for as long as seven years. If you manage to do a short sale, you may be able to get another home mortgage within a couple years or less.
This requires your lender to take a discount on what is owed them. Sometimes your lender will take as much as 20% or more less than what is owed. If you have a FHA mortgage, your lender will send out an appraiser and can accept approximately 82% less than the appraised value.
Why would a lender take less than what is owed to them? Because a short sale will save your lender the costly process of getting the home back in Foreclosure. The foreclosure process for a bank is a very long process and usually a very expensive project for a bank. They will have to incur the costs of an attorney, maintenance of the property, sometimes mold issues, securing the property, real estate fees along with many other fees.
Pre-Foreclosures & Short Sales In Michigan
Call Toll Free 866-Own-This extension 0 now for immediate answers to any of your Michigan Short Sale Questions.
Real estate is very costly for a lender. Lenders do not want to become property managers, they want to lend money. While the house is left vacant, the pipes may freeze throughout the cold winter months, the house could be vandalized, and usually the home will sell for much less than what it could sell for in the short sale process.
We are a team of real estate professionals who specialize in marketing pre-foreclosure homes for homeowners who are in this very situation. We work with your lender on your behalf to list and sell your home.
Your lender pays our commission and also your closing costs. Michigan is on the top of the list for number of foreclosures in the country and because of that, you must act quickly.
Required Documents to complete a Short Sale
The first thing you should do to start a short sale process is call your lender and ask for the loss mitigation department and ask for a short sale package. Find out if you must stop making payments for a month or two before your lender will deal with you. Below is the package to compile before your lender will even begin to entertain a short sale. As Certified Distressed Property Experts, we will walk you through the process.
•Authorization to release information form
•Hardship Letter
•Financial Worksheet
•Listing agreement
•Copies of tax returns (last 2 years for everyone on the note)
•Copies of all bank statements (last 2 months for everyone on the note)
•Copies of pay stubs (last 2 pay periods )
•Signed purchase offer (MARK Z Home Selling Team will get)
•HUD 1 closing sheet
•Market Analysis with pictures (by Toth Team)
•Application for Pre-Foreclosure sale program (Only if FHA , HUD form 90036)
•Homeownership counseling form (Only if FHA , HUD form 90038)
Email us your information or call us today.
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.