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You are currently browsing the Stop Michigan Foreclosure weblog archives for February, 2010.

One Way To Not Sell Your House

I recently saw asked a REALTOR® (not one of ours!) how things were going with one of his listings.  it went like this…

“I haven’t talked to the seller in 2 months” he said.

“2 Months? Must be you aren’t getting a lot of showings” I said

“We haven’t had any, it is priced way too high but that is what they need to pay off their debt” he said.

“Sounds like you may need a short sale” I said.

Now I don’t know for sure that this seller is a good candidate for a Michigan short sale or not.. However, I do know that if your house has been listed for more than 2-3 weeks without a showing, then it is priced too high.

I would also say if your REALTOR® has not talked to you in 2 weeks (let alone 2 months, good grief), you need a new REALTOR®. A good REALTOR® will be constantly updating you on progress and suggesting adjustments. If you want to know other ways to judge a how well a REALTOR® will do with your short sale, see this video.

How do you figure out if you need a Michigan short sale, make sure your house is priced correctly and that you have a good REALTOR® ? One way is to talk to us. Especially if you are facing a Michigan foreclosure, selling your house is a time sensitive matter. You don’t have time for trial and error now do you? Give us a call and not only will we help you with your short sale as much as possible, we will put you in touch with our whole team of people, including REALTROS®, who can help you get your house sold and get back to better times.

Ann

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Greenville and Kalamazoo Testimonials

Last week, we closed on two different houses and my team made more debt disappear. How is this done? This is done with a short sale. Don’t know what a short sale is? Well you can search this blog to learn more, or just give us a call. We’re really good at them though based on all of the testimonials you’ll find here and here. And here’s two more!


“Due to my husbands job loss we were unable to pay our mortgage. We found ourselves in default of our mortgage after 8 years of paying on time. The home was in foreclosure when we first heard about Great Lakes Home Solutions, Inc. (GLHS). We didn’t feel like we could do anything to improve our situation besides trying to “short sale” the house. It turned out being a great decision. GLHS ended up wiping out $97,000 of debt, which was a great weight being lifted from us. I would recommend GLHS to anyone that is going through the same situation. It was a great decision.”

Deon & Nicole, Kalamazoo, Michigan


“After having the house on the market for three years and had several deals fall through due to the rapidly declining market, Great Lakes Home Solutions, Inc. was our last resort. We could not afford to keep putting good money after bad and had hard decisions to make regarding our family’s financial future. Great Lakes assigned Realtor was able to sell our home and Great Lakes negotiated an agreeable arrangement with our mortgage company that allowed us to walk away and begin our lives again, with a much better credit future than a foreclosure would have allowed. At least now we can have hope of someday securing a new home for our children to grow up in, in the future. The fact that we were currently living in a different state due to jobs, did not affect the quality of attention that Great Lakes offered our family, even though it meant more work on their part to put our deal together and still make tight deadlines. We appreciate their hard work.”

Gary & Marci, Greenville, Michigan


Joel

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The Dreaded Winter Move

I’ve spoken to a few families that wanted to not do a short sale and ride out their redemption period.  Why? Not because it was the best for them, but because the thought of the dreaded winter move was “impossible”. I’m here to say, no it’s not. I just did it and I’m still here to tell the story. More than that, you have to understand that a short sale isn’t a fast process. If a short sale is right for you, and we start the process now, chances are pretty good that the snow will be gone by the time you move.

Don’t let the idea of the dreaded winter move stop you from making the best choice for your family. If you’re not sure what your options are when facing a Michigan foreclosure,  give me a call. I’d be happy to discuss all of your options with you.

Emily

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Joseph, Patron Saint of Real Estate

I’ve recently learned of an interesting bit of folklore that has been circling around the real estate world for years. The legend says that if you bury a little statue of Saint Joseph in your yard, your home will sell swiftly. You then give thanks to the tiny St. Joseph by digging him up and placing him on the mantel of your new home.

Where did this tale come from, you ask? According to www.StJosephStatue.com, an online purveyor of all of your plastic (and pewter, if you’re feelin’ fancy!) St. Joseph needs, this tradition has been around quite some time. “The solemn tradition of burying St. Joseph in the earth began hundreds of years ago in Europe. During those times, an order of nuns prayed to St. Joseph (the patron saint of the family and household needs) when they needed more lands for convents. The Sisters were encouraged to bury their St. Joseph medals in the ground.”

Now, I am not a skeptic. If this 4” St. Joseph can sell my house quickly in Michigan’s tough market, I’ll buy him a posh little dollhouse to live out his golden years. But if you’re looking for a surefire way to sell your house, I’d try pricing it at fair market value. Easier said than done, though. Ever since housing values took a dramatic dip, many people owe much more than their homes are worth. This is where a short sale comes in handy, and this is where we step in! We can negotiate with the bank to accept an amount closer to what your house is worth, rather than what you owe on it. If you’re facing a Michigan foreclosure, want to sell your house, and want to find out if a short sale is right for you, give Emily a call. She’s ever so sweet, so don’t be nervous! Oh, and let’s bury a St. Joseph statue just for good measure…

Holly

(The “Authentic” St. Joseph Home Sale Kit – $7.95)

St. Joseph

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You’re On The Phone How Long?

If you’re anything like me, when I was trying to stop my Michigan foreclosure by myself, the worst part was trying to get through to the mortgage company. People often ask me why I’d want to spend all day at work on the phone waiting on hold to talk to someone from a lender. Well that’s a simple answer- it’s easy, because it’s not part of my job!

Melissa  is the one who spends countless hours on the phone negotiating short sales for our sellers. Honestly, I’m not sure how she does it. Not only does she do it, she does it well. She has ways of not just getting through to an actual human being, but getting results! After all, our success rate is 85% over the last 6 months (compared to the national average of only 10% of short sales closing).

If you’re looking for help and tired of wasting time on the phone with your lender, give me a call. I’m happy to discuss your options with you.

Emily

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2009 Top 10 List

Well, it’s a new year, which means that there is bound to be tons of reflection on the year past. There will be lists abound – Best movies of 2009, best dressed of 2009, and of course, highest foreclosure rates of 2009! Here’s the breakdown, courtesy of cnbc.com:

10. Hawaii – 1 in 330

9.   Georgia – 1 in 305

8.   Illinois – 1 in 294

7.   Michigan – 1 in 225

6.   Utah – 1 in 200

5.   California – 1 in 165

4.   Idaho – 1 in 159

3.   Florida – 1 in 158

2.   Arizona – 1 in 132

1.   Nevada – 1 in 94

Put down those cards, ladies and gentlemen – I think Las Vegas has run out of luck!  I wouldn’t press my luck at Michigan’s casinos, either… we’re sitting (not so) pretty at number seven with 1 in 255 households losing their houses to foreclosure. And even more homeowners are facing foreclosure or heading that way by being behind on their mortgage payments. One piece of good news for the New Year is that if you’re facing foreclosure, we may have a permanent solution for you in the form of a short sale. If you know that you can no longer afford the house, and are ready to sell it, give Emily a call or email now.  If you wait much longer, we may have to tell you we can’t help.

Holly

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I Don’t Know If I Can Wait……

“I Don’t know if I can wait another 2 days!” That is what my 11 yr old nephew Joey told me on December 23rd. Joey gave me various versions of this statement over the next 48hrs, eventually counting down the hours to Christmas morning. Why? Well, because Joey knew that all kind of good things were going to happen Christmas morning! There was no doubt in Joey’s mind that Christmas was going to solve all his needs, wants and desires (mostly for more Legos).

This is the same kind of urgency you should feel about calling and meeting with Emily. If you are facing a Michigan Foreclosure, we can offer solutions that will get you back to better days and remove stress. Yes, it will take some work on your part, just like Joey had to work at being good – everyone knows that nothing comes free. Yes you will have to write letters and fill out financial statements just like Joey had to write letters to let Santa know what he wanted. Joey did all this willingly because again he believed and was focused on the reward. That is the key – believe in our team and focus on the brighter future we can help you achieve.

You too can be saying about your meeting with Emily: “I don’t know if I can wait…..”

Ann

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Will the Government’s New HAFA Short Sale Work For You?

Due to the overwhelming number of homeowners out in need of short sales, and the success rate of said short sales being extremely low, the government has stepped in to attempt to help out. The new “Home Affordable Foreclosure Alternative” program has been created in order to give mortgage companies an incentive to close these deals. But is a HAFA short sale right for you? Answer this little questionnaire, and we’ll find out.

  1. During the short sale process (which can take several months) are you able to make mortgage payments at a minimum rate of 31% of your gross (before tax) income?
  2. Are you currently living at the property?
  3. Do you have a second mortgage that is willing to accept only 3% of the balance of that loan as payment in full?
  4. Are you willing and able to keep paying utilities, assessments, association dues, and interior and exterior maintenance costs?
  5. Is your property in good condition, or are you willing to bring it up to a good condition (and keep it there)?
  6. Are you willing to take the chance that the short sale may be denied, in which case you will be forced to accept a deed in lieu of foreclosure? (turning the house over to the bank – yikes!)
  7. Will you agree to let the bank decide how much your house is worth, instead of you deciding on a value with your REALTOR®?

If you answered no to one or more of these questions (there are a few more stipulations, by the way) then you will be denied for a HAFA short sale. The good news is that you can still do a short sale the old fashioned way. And the better news is that we can take all of the stress out of it by doing it for you. You won’t have to make any repairs to your house, and you will never have to give us (or anyone involved) any money. Give Emily a call at (269) 685-5921 today and find out what we can do for you!

Joel

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