Michigan Short Sale Specialist

SERVING SELLERS IN FINANCIAL DISTRESS

Do you owe more than you home will sell for? If you need help selling your home using the short sale process, we can help.

Call me today for a confidential, no hassle consultation. (616) 291-2668

-Our services are FREE, NO upfront costs ……….

Short Sale FAQ's

What is a mortgage default?

A mortgage is considered to be in default when one or more monthly payments have been missed.

What solutions are available if I am in default on my mortgage payments?

You may qualify for a broad range of help. Some solutions are:

1) Short Sale Payoff-

2) Forbearance Agreement

3) Loan Modification

4) Deed in Lieu of Foreclosure

What is a Short Sale/Payoff?

Short Sales occur when borrowers sell their properties for amounts that are less than the amounts owed to the lender. The lender agrees to accept less than what is owed as “payment in full”, in an effort to avoid the foreclosure process. In other words, if the seller meets the lender’s criteria, the lender agrees to “write off” the portion of a mortgage that is higher than the value of the home.

Why would a lender accept a short sale rather than allow the property to go to foreclosure?

The foreclosure process is too costly and time intensive. Banks would rather cut their losses to move on to replace these “bad loans” with “good loans”. The banks are also penalized by the feds by having REO (real estate owned) properties on their books.

How do I qualify for Assistance?

Borrowers need to prove that they are experiencing a substantial financial hardship.

What is a “Hardship”?

A hardship is a situation that has a life changing effect for the borrower that results in an in ability to pay the mortgage debt in either, short or long term. Some examples are:

1. Separation or Divorce
2. Medical Bills
3. Inability to work due to health reasons
4. Death of Spouse
5. Job Relocation
6. Reduced income or Unemployment
7. Business Failure
8. Behind on payments and little to no equity in home

How do I apply for Help?

Contact us and let us consult with you about the best option available.

How do I qualify for a Short Sale?

A borrower must prove that a hardship exists. The lender must be willing to accept the short sale proceeds as full settlement of debt.

What is required from the property owner?

The property owner must:

1. Sign a listing agreement with a Realtor
2. List the property for sale
3. Cooperate with access, showings, offers and with the Realtor
4. Vacate the home following the close of title
5. Agree not to finance or otherwise encumber the property
6. Be responsible to maintain the home in “show” condition
7. Be responsible for minor repairs to the home
8. Be a responsible homeowner until close of title and vacancy of home

How can you help me?

Attached is a partial list of our services.

1. We can help you avoid foreclosure and eviction
2. Help you minimize credit damages
3. Counsel you through the process
4. Act as the liaison between you and the lender to ensure all parties work together toward a successful solution.

How much do you charge for your services?

Our services don’t cost you a penny! We don’t charge upfront or on the back end: our fees are paid only upon on successful negotiation and sale of your property by your lender(s) and buyers.

Email us here for more information, or contact Steve Hanson 291-2668 to learn if a short sale would be a viable option for you.