Last week I received my Short Sale Certification and will currently be available to assist homeowners in Washtenaw County that are in this unfortunate situation.
The first step will be to see if we can get you a loan modification of your current mortgage by working with your lender.
In 2005 we had the highest number of home mortgages adjustments.(ARM)
In 2007 we were only selling about 10% of homes selling short. That has risen now risen and will continue to rise in 2010 as many ARM (Adjustable Rate Mortgages) are due to re-adjust again.
The banks are now more willing to work with you to adjust your loan, or sell your home short of what you owe.
In Michigan we have a 6 month redemption period by statute where a homeowner can pay all the fees, bring their home mortgage payments current and "redeem" their home. (It is very rare when this occurs but it is the law).
For a bank to wait for 3 months to begin the foreclosure process, then a sheriff sale, then another 6 months to put the home on the market as a RE0( Real Estate Owned) property, they are loosing a lot of money.
More and more of the banks are now willing to work out a short sale solution.
The most important thing to do if you are a homeowner who is late on your house payment is to speak to a Realtor that explain the process to you. There are so many ins and outs that you need to make sure your Realtor knows ALL the steps necessary to help you.
I have dealt with Short Sales but wanted more training to be able to manage them in an efficient manner and provide all the documents to you the bank will require.
I'll post on Short Sales in more detail in the coming weeks, but if you are in that situation, please don't wait another month.
Give me a call, for a private consultation at 734-821-0757.
Missy Caulk & Team can be reached at 734-926-9797 or email: Missy@MissyCaulk.com
Our Team of 6 agents are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.
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Stay strong, stay faithful, stay honest, stay loving, stay true to who you are, most importantly stay true to who God is as you'll be who you are, and you'll be happy, you'll be you, you'll be free. -Jamie Caulk
