Stop Michigan Foreclosure

Paralyzed by a Michigan Foreclosure (No More)

When you are facing a hardship, I know that it can be paralyzing. A death of a loved one can fill you with so much sadness and grief that you feel like you can’t deal with anything else. A major sickness for yourself or someone close to you can overwhelm you with choices, decisions, and appointments that you feel like you don’t have time for anything else. A job loss can make you feel depressed, lost and fearful. Your only focus is how you are going to feed yourself and your family. On top of all this, if you are falling behind on the house payments and facing a Michigan foreclosure. Dealing with the house is probably the last thing you want to do.

That’s why we are here. All you need to do is make one phone call to Emily and discuss your situation with her. If we can help, we will take the burden of dealing with the house off your shoulders. We will still need help from you, but we will do all the hard work of dealing with the banks, attorneys, REALTORS® and anyone else who needs to be involved. We will explain what is going on with the foreclosure and what your options are so you aren’t struggling to figure it out for yourself. We have knowledgeable, experienced staff to help. We know what works and aren’t swayed by the media, rumors or what your neighbor might have heard will work. We will do all this without charging you, without asking you to make any repairs to the house and without putting you in a worse situation. We keep everything confidential and will work harder than anyone to get you to a better situation. What else could you possible ask for? Give Emily a call today and feel the relief of moving forward and solving your house problem and feeling paralyzed no more.

Ann

Feeling Invisible?

When I was a kid, my friends and I thought it would be really cool to be invisible. You could walk across a crowded room and not be seen, you could break into the cookie jar and not be seen, and of course there was always getting out of chores because Mom couldn’t find you.

Once we grow up, we sometimes feel like we are invisible in the real world and it is no longer cool. I am sure if you are facing a Michigan Foreclosure, you may have even experienced this. Especially as you sit for a long time on hold or in a crowded room waiting to talk to someone who can address your situation. Or maybe as you are doing the best you can to deal you’re your situation and it isn’t making any difference – you can’t save enough money to make a payment, or find a job or whatever. Or maybe you wish you were invisible so you can hide from whatever distressing situation has put you behind on your payments.

Are you feeling like nothing you do to solve your problem makes a difference? Do you feel like the representatives you talk to at your bank really don’t care or want to help and are just going through the motions? It is time to get your power back! Give us a call and you will be treated with dignity and respect from the first call. We will treat you and your situation with the individual attention it deserves. We will never charge a fee and we keep all your information confidential. We will help you to hold your head high and know that better days are coming your way.

Ann

Married And Never Lived With Spouse

A few days ago I was driving in my car, flipping through the radio stations, and stopped on a talk radio show which caught my attention. The woman on the line was asking the show’s host, Dave Ramsey, for some financial advice. She had been married almost a year, but had never lived with her husband, who had to relocate to a different city, because she could not sell her house. She had purchased the house back in 2007, right before she met her soon-to-be husband, and right before the housing bubble burst. She now found herself to be underwater – her house was worth less than she owed on it. She wanted to know if he thought that she was better off doing a short sale, or trying to get a $10,000 loan to make up for the difference when she sold the house. I found Dave Ramsey’s advice to be obnoxious. “Who cares!” he exclaimed. He went on to hassle the woman about having lost a year of marriage “which you can’t put a price on…” His advice was to do anything, whatever it took, to get rid of the house and move in with her husband.

I really wish that instead of going off on a rant, he would have asked the woman more specific questions about her circumstance. Was the couple able to continue making two house payments (or a house payment and a rent payment)? Would she even qualify for a (more than likely) unsecured loan for the $10,000 difference? Had she consulted REALTORS® to be sure that she was only $10,000 underwater, and not more?

Yes, in certain circumstances, it may be your best option to take out a loan to pay off the difference in the house value and your mortgage amount. In other situations, especially where there is a financial hardship, you may want to explore other options. If you would like to avoid a Michigan foreclosure, give Emily a call. She’s been through this before, and can let you know what your options are. And, if your best option is a short sale, the good news is that we can help!

Holly

Do You Know What You Want To Do About That Pending Michigan Foreclosure?

Yesterday I talked to a seller (let’s call him Tim) who had done his homework more than anyone else I ever talked to.  He had been all over our website (www.StopMichiganForeclosure.com), this BLOG and other foreclosures websites.  He had researched the value of the house at zillow.com and knew he owed more than the house was worth and that he was upside down (or underwater as the media likes to call it).  He had researched rental properties in his area and knew he could not rent it for as much as he needed to cover his monthly mortgage payment + taxes + insurance (not to mention repairs and other expenses of being a landlord).  He was ready to just get out from under the burden of the house and from all that he had learned, he had decided we were the best people to help him do this.

Most people who call us haven’t done this much research.   They realize they can no longer afford their house payment and that is about it.  They don’t know what their options are or where to turn to learn their options.  That’s why we are here.  We have been working with people facing Michigan foreclosures since 2005 and know lots of resources to point you to and options for you to consider.  I was even able to tell Tim a thing or two about the foreclosure process in Michigan that he hadn’t learned on his own.
If you are facing a Michigan foreclosure, you do not need to know what you want to do before you call us.  Let us help you figure out your goals and the best way to reach them.  We keep everything confidential and we never charge you a fee.  Give Emily a call whether you know what you want or not and let her help you get on your way back to better times.  Now that is something I know everyone wants!

Ann

Celebrity Foreclosure

I always stress in my blog posts that if you’re going through a Michigan foreclosure, you’re not alone. I’ve realized that saying that doesn’t really help, though, if you don’t actually know anyone else in your shoes. So this post is for those of you who still feel alone in their Michigan foreclosure situation. Foreclosure can happen to anyone – even the rich and famous.

You might think that if you have all the money in the world you could do just about anything – including stopping the bank from foreclosing. This is not always true, though, because the same things that cause you, the average person, to default on your mortgage also happen to celebrities.

Divorce: Victoria Gotti, daughter of mobster John Gotti, purchased her Long Island house in 1989 for $175,000. She now owes $650,000 and reports say that she hasn’t made a payment in quite a while. Apparently, she has not been able to afford the house since her divorce. This is quite common. Two people can afford a mortgage, but when they split, it is often unreasonable for one person to keep the house. The logical answer would be to sell the house, but when you owe more than it’s worth, you’ll have to bring cash to closing (which most people can’t do.)

Gotti Mansion

Job Loss: Adam “Pacman” Jones of NFL fame went into mortgage default when he was suspended from playing without pay. When you bought your house, you probably weren’t expecting a recession (I know I wasn’t!) which means you probably weren’t thinking about job security. Unfortunately, the economic climate got stormy and many people are left without employment.

Adam "Pacman" Jones Humble Abode

Failed Businesses: In 2005, ABC built a brand new, $450,000 house for the Harper Family on their show “Extreme Home Makeover.” The house was given to them at no cost. The family, however, took out all of the equity to fund a construction business that ultimately failed. They were unable to pay back the equity loan, and the house went into foreclosure. We turn again to the financial crisis, which is making it hard for many businesses to stay afloat.

Harper Family’s Extreme Makeover House

Death: Veronica Hearst defaulted on the mortgage of her 52 room mansion after the death of her husband, Randolph Hearst (successor of publishing giant Hearst Corporation.) The death of a loved one is hard enough to deal with without also having to deal with foreclosure.

Villa Venezio – Veronica Hearst’s House

Disability: Ed McMahon defaulted on the loan of his $4.8 million dollar house in 2006, when the 85 year old fell and broke his neck. He was unable to work, and therefore could not come up with the princely payments.

Ed McMahon’s House

If you are facing a hardship, such as the ones listed above, and have realized that you can no longer afford to keep the house, give Emily a call at (269) 685-5921. We help people facing difficult times every day, and are well versed in letting you know what your options are. If your best option is a short sale, we’ll do everything in our power to make it as painless as possible.

Holly

How To Tell A Friend Facing Michigan Foreclosure Her Options

Sometimes it’s hard to tell the one’s you’re close to what they need to hear. Recently a very close friend of mine (Susie) found herself in a situation that she didn’t want to be in. She’s getting a divorce and neither she nor her husband can afford the mortgage payments on their own on their Michigan house. The problem: she wants to stay in the house. It was probably one of the hardest things I’ve had to do, but I had to sit down with her and show her that even she had a 0% interest rate, she still couldn’t afford the house payment.

She does have options though. She can still sell it with a short sale and hopefully walk away with a fresh start. The reason I’m sharing this with everyone is because I’m sure she’s not the only one who’s going through this. If you’re not sure if you can afford to keep your house or what your options are, please give me a call. If I was able to help Susie work through this, I can help you too.

Emily

Octomom Facing Foreclosure

Many of us may have heard of the pseudo-celebrity dubbed “Octomom” (her real name is Nadya Suleman). Octomom gained notoriety a year or two ago when she gave birth to octuplets, increasing the number of her children to 14; she had previously given birth to sextuplets.

If you follow celebrity news, you may have heard that Nadya Suleman is facing foreclosure.  Now, in some ways, hers is a very different situation than that of most homeowners – her income is derived mostly from publicity, interviews, and public appearances, whereas the rest of us have far more traditional jobs. Also, her mortgage is reportedly held privately, so she has no huge conglomerate bank to deal with.

In spite of these differences, she is a mother trying to provide for her children, and in that way, she has something in common with many sellers facing a Michigan foreclosure. My point is this: if foreclosure can happen to those who are famous – or infamous – it can happen to anyone. No one is immune to this “Michigan foreclosure epidemic”. If you are facing a Michigan foreclosure, you are certainly not alone. But you do have options. Give us a call to discuss how we can help you get back to better times.

Melissa

Bank Burgles Bird While Current On Payments

I just read an article in the Pittsburgh Post-Gazette about a woman who had her home foreclosed on by Bank of America. No big surprises there, since foreclosure rates are through the roof – but this story has a twist. Angela Ianelli of Hampton, PA wasn’t late on her payments. Oops!

The article says that Ms. Ianelli came home one day to find herself locked out of the house by Snyder Property Services, a “property preservation” company. When she finally got in, what she found was not pretty. Her carpets and furniture had been damaged, her water and electrical lines had been cut, and her home had been winterized. Worst of all, her parrot, Luke, was M.I.A. Now, this one hits close to home. I have two birds of my own, and would be devastated if they were taken from me! (Though, I can image the culprit would be trying to give them back pretty quickly – not everyone can handle the incessant squawking.)

When Ms. Ianelli tried to contact Bank of America, they did what they do best – gave her the ‘ol runaround. It wasn’t until a week later that they admitted their mistake. Only then did they tell her where she could find her parrot – a mere two hours away. Ms. Ianelli has since hired a lawyer, and I’m sure this story is far from over.

Unfortunately, this is an often occurrence, only it usually isn’t a mistake. Millions of families are behind on their mortgages, and the banks are taking action. They want their money, and they’re ruthless about it. If you’ve realized that you can no longer afford to stay in your house and are facing a Michigan foreclosure, give Emily a call. You have better options than letting the bank’s henchman raid your home!

Holly

“They Broke Into The House & Changed The Locks!”

Yes, that’s exactly how the first part of this conversation with one of our new sellers went. The rest of the story is unbelievable, but we managed to turn it into a good ending (so far). But first, a little education for you so you can understand this story…

Redemption period – what’s that? A redemption period is a number of days or months after a foreclosure auction during which time you may redeem the property. At the auction, the house is sold back to your lender (most of the time) – by redeeming, you are claiming the property back so it’s yours again. Michigan is one of only 10 states that boasts a redemption period – ours is generally six months.

Sounds pretty good right? Here’s the catch: the amount owed must be paid in full during those six months (plus interest & attorney fees), so, if you were to receive a large monetary gift, or win the lottery, you might be able to redeem the house.

Or, you could sell it.

Thing is, every seller in Michigan has redemption rights (unless he or she chooses to sign a deed in lieu of foreclosure with the lender which gives up those rights). That is something no business, individual, or entity can take away from you – you are protected by Michigan law.

So our new seller was in this very situation; unfortunately, a local business that wishes to attain her house sooner rather than later (they don’t want to wait out the six months), seems to have aggressively pursued their goal by unethical means. The property was broken into and they tried to bully her – for lack of a better term – into foregoing her right to redeem the house herself. They were likely playing the odds she would not know her rights or contact a third party. Sad to say there are people out there who prey upon those in financial hardship.

The good news (because we taught her how to deal with these bullies) is she’s now exercising those rights and intends to redeem the house.

I just wanted to take a few moments to stress how important it is for you as a seller in foreclosure-ridden Michigan to know your options and more importantly your rights – both in prosperity and hardship.

If you’re faced with a similar situation (or anything else related to Michigan foreclosure for that matter), give us a call – we’re all happy to help!

Melissa