Stop Michigan Foreclosure

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

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

“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

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

I just received a call from someone who realized that they need our help. She lost her job and was feeling so overwhelmed, that she didn’t want to address any of her financial issues. The only problem: once she did start to address her problem, it was too late. She said she’s known in the back of her mind that she’s needed a short sale but was just so overwhelmed, she didn’t even know where to start. Now that she’s realized that a short sale is her best and only option, it’s too late for us to help her.

Why? Foreclosures are very time sensitive. Once the lender refers the matter to an attorney to start the foreclosure, there is a legal process they must go through. However, unlike many states, the process before the foreclosures auction is relatively quick in Michigan taking weeks instead of months like some states. While we can still help you after the foreclosures auction (another relatively unique feature of a Michigan foreclosures) that time period is also dictated by law and goes incredibly fast considering everything that has to happen (contact lenders, get house listed with a REALTOR®, find a buyer, waiting for an answer from the bank, etc.). Although they vary from case to case, every minute wasted is a minute that we could have been helping you stop your Michigan foreclosure.

If you’re trying to sort out your options, please give me a call. It’s never too early to call me; I’m glad to help and to also explain your timeline to you as well as options and resources to help you make a good decision about the best plan for you. Please don’t wait to give me a call – it just may be too late if you do!

Emily

As 2009 came to an end and 2010 begins to roll in, many people are thinking back on the last 12 months and making new year’s resolutions – changes they’d like in make in the following year. While it’s always a good thing to be striving for self-improvement in any area of your life, often these resolutions are difficult to stick to, whether it be a goal to lose weight, eat healthier, or work harder for a promotion.

I like to think of the self-improvement goals I make as reaffirmations or renewals, instead of resolutions. Each year I strive to recommit to personal and professional goals – most of which are ongoing. For example, I may reaffirm my commitment to being a better friend, partner, employee, or to focus on improving my health and giving back to my community.

This year I’d like to share my professional reaffirmations. I’m recommitting to all of our sellers in foreclosure to do all I can – to exhaust all options – in helping them out of their situation. I’m recommitting to all of our REALTORS to do my part in keeping them informed and doing all I can to help each transaction go smoothly. In short, I’m reaffirming my commitment to you to help get you back to better times, whatever that may entail.

I’m looking forward to new challenges and opportunities in the next year, and I wish all of you a happy, safe, and fulfilling 2010.

Melissa

I recently took a call from a seller who had their hours at work cut in half and wanted to do a short sale to prevent a foreclosure on their house. They met all of the criteria for us to do the short sale. As we were finishing our conversation, they told me that they wanted to sell the house to their brother, who was going to rent it back to them. Uh, oh. No can do. I told him that he can go ahead with the short sale, but could not sell it to a family member and reside in the house again. Benefiting from a short sale would be considered mortgage fraud. This is a federal crime and the FBI is all over things like this. He was shocked, and grateful that I had told him about this as he didn’t want to break any laws or end up in a federal prison.

They decided that the short sale was still their best option and that they would work with us to find a buyer for the house- who of course isn’t related to them.

If you’re facing difficult times and need help preventing a foreclosure on your home, give me a call. I’d be happy to discuss your options with you.

Emily

This is a follow up to a blog that I wrote before about a Michigan foreclosure that I went through several years ago. I had a family that we’re currently helping ask me this week “Why in the world would you put that out for everyone to read, it’s such a personal issue?”

Great question. The answer- I want other people to know that they’re not the only ones who are going through a Michigan foreclosure. As much as it is a personal matter, they don’t have to go through it alone. Most importantly, as I stated in the previous blog, I want people to know THERE ARE OPTIONS!

Yes, going through a Michigan foreclosure was not one of the shining moments in my life, but, I made it through it- AND YOU WILL TOO. Don’t do what I did and try to figure it out on your own. By the time I realized that I needed an expert’s advice it was too late. Fortunately, now I have a vast knowledge of the foreclosure process, and I’m here to share it with you. Don’t wait any longer – call or email me now.

Emily

This week we got an email from “Jeff”. Our team was negotiating a short sale for Jeff when his financial situation changed for the better. He decided to attempt a loan modification with his lenders and cancel the short sale (despite the 6% success rate).

Jeff had been having some trouble getting through to someone who could help him or tell him anything definite about his options, so he decided to contact us in the hopes that we could help point in him the right direction.

I was able to quickly tell him which department to call and what to tell that department when he did call. After he’d tried the number I gave him, his email back to me read, “I don’t know how you guys can handle talking to banks day in and day out. I get so frustrated, mainly because I get absolutely nowhere when I call. And this was after you gave me the right number to call and told me exactly what to say! You guys must have the patience of saints…”

I’ve never thought of myself as particularly saintly, but I got to thinking about what he’d written. Many lenders are so huge and have so many departments that navigating through the maze of their phone system is difficult for me, and I’ve been doing this for three and a half years! I can’t even imagine what it must be like to have to figure that out as a first time caller.

If you find yourself needing a short sale and don’t have the patience of a saint, give us a call, and let us handle the navigation of your lender’s phone system…and the short sale for you.

Melissa

“More Homeowners Fall Behind on Mortgages” was the headline of a recent Wall Street Journal article.  This article states that 1 in 7 owners are now behind in their mortgage. What I found most interesting in this article is the observation that the reason people are getting behind has changed.

According to the article, 2 years ago it was 1 in 14 homeowners that were behind in their mortgages. The main reason was the fallout from the loose lending practices during the housing boom when people were simply getting bad loans that they couldn’t afford long term. Now, the main reason for being delinquent on house payments is unemployment and loss of income.

Michigan continues to have the highest unemployment rate in the nation according to this New York Times article.  It is no coincidence, then, that Michigan continues to have one of the highest foreclosure rates in the nation.

Of course, here in our office, we don’t need to read these articles and statistics to know they are true – we deal with this reality every day as we help families facing a Michigan Foreclosure. The number one reason people need our help is loss of income. However, we also help people who are behind on their mortgages for other reasons.

If you are behind on your mortgage because of loss of income or any other reason, give us a call and let us put our many years of expertise to work for you. You don’t have to become another statistic. Let us help you get back to better times – call us today.

Ann