Stop Michigan Foreclosure

I’m amazed with the number of calls I get from other real estate professionals asking for advice about foreclosures and short sales in Michigan.  I get calls from Realtors®, lenders, title companies and even attorneys.  Realtors® I can understand since I have a State of Michigan approved course to teach them how to negotiate short sales (www.ShortSaleCertified.com).

What really surprised me this week though was a call that I got from Dave a Waterland Homes, LLC (www.waterlandliving.com).  Dave is a Realtor® that specializes in absolutely beautiful properties in Northern Michigan.  As it turns out, even this part of Michigan, with these kinds of properties aren’t immune to foreclosure or the need to negotiate short sales.

Like all Realtors® who don’t specialize in short sales, Dave was frustrated with the lack of progress he was making on a short sale he was personally negotiating.  After a few minutes of my coaching he was on his way to helping another distressed seller.

Someone’s got to teach the “experts”!

Joel

Have you ever wondered if someone will want to buy your house if you were to list it for less than what is owed, and wait for your lender to approve a short sale? After all, it takes longer and is more complex than a typical buy-sell transaction.

The answer is yes! Buyers are willing to wait the extra time if they understand the process, time lines and know what is going on.

That is why we use top notch Selling agents to list your house. They know how to communicate with the buyer’s agent during the process and keep things moving forward.

Here is a recent testimonial that we got from a Buyer’s Agent after we closed on a home sold on a short sale.

“I appreciated the constant communication. They gave expectations of our time line and were easy to work with.” Nancy

Your house can sell and you can get out from under the debt and stress if you put the right team to work for you. Call us, we are here to help.

Ann

We received a call from a young lady yesterday who owes more than her house is worth. She can’t make the monthly payments anymore. She wants to get out from under this debt and save her credit, so she listed her house with a Realtor®. She was excited when they found a buyer. Then her Realtor told her she can’t sell the house because the lender won’t accept less than what is owed on the house (called a short sale). She was crushed and called us to see what her options are.

What happened? Don’t most lenders accept short sales? (yes, the do). Plain and simple, the Realtor® completely messed up negotiating with the lender. It takes someone who does short sales everyday to know exactly what to say and do to successfully negotiate a short sale with a lender.

Most Realtors® mean well, but they don’t have experience with a wide range of lenders nor do they talk to lenders on a daily basis. Most are good sales people but very poor short sale negotiators (as shown by the dismal 10% national average success rate they have for getting short sales approved).  Learn why we are so good.

We have a dedicated bank negotiator (Melissa the “Bank Bully”) who talks to several lenders a day, every day. She knows how to speak their language & what they need before they ask for it.  Joel (our CEO and “closer”) has his own State of Michigan approved course specifically for Realtors® so they can learn from one of the best there is.  The families we work with have decided to have the experienced instructor on their team and not the student.

Will we be able and step in and clear this up? Depends on what the Realtor®has said, done, and sent to the lender. Moral of the story: If you realize you have to sell and think your lender may need to take a discount on what is owed to get it sold, talk to us first before you talk to the Realtor®. Your house will still be listed with a Realtor®, but one of ours who we’ve trained how to work with us and how to do short sales “the Great Lakes Way”, which yields about a 70-80% success rate.

Ann

It is not like the experience Marilyn had. She was facing foreclosure and did what many people do when they realize they simply can’t afford their house any more: she listed her house with a Realtor®.

He came and put a sign in the yard, and then only talked to her 2 times in the next 6 months. There were only 2 showings that Marilyn knew about. She had no idea what the Realtor® was doing to sell her house or what was going on. After 6 months, he came and removed the sign without saying a word. She didn’t know what to do next! By this time it was way too late for us to help as she was just days away from being evicted by her bank.

Now we don’t know the Realtor’s® side of the story, but we know if we had helped her, the experience would have been significantly different.

We provide updates every 2-3 weeks and we are always available to call and ask for an update at other times. We aggressively market every house, making price drops and other adjustments as needed to stimulate activity. We keep all sellers updated on these price changes and feedback from potential buyers.

If we are not able to sell a house, we don’t just quietly disappear without talking to you and making sure you know what to do next.

We communicate through the entire process. Call us if you are facing foreclosure and are ready to sell. Not ready to sell? We can still help, and regardless, there’s never a fee.

Ann