Michigan Property Investors

Are you in foreclosure?

          

Stop Foreclosure from Stressing You Out!

How many of these apply to you?

Behind on your mortgage payments
 Tried to sell but couldn't
 You have No Equity
 You owe more than your home is worth
 Your home is going to Sheriff's sale
 Your home has already gone to Sheriff's sale
 Everyone says that they can't help you
 Do you want to avoid a Deficiency Judgment?

Is this happening to you right now? You got behind on your  mortgage payments and the bank started calling. You know the calls...pay now or we'll take your home. Then the letters started. One after another from investors saying that they can buy your home. So you call them, but then they ask, "how much you owe?" Well now they can't really buy your house because you have no equity. You know you can't sell it. You can't afford to pay an agent and you have to get what you owe plus the payments you are already behind on. Then if it doesn't sell before the sheriff's sale you will have to add more fees to the selling price just to break even. Then there is your credit situation. You  want to do what you can to save it, but your just not sure how.

So what do you do now.......
 

Right now you need to know your options:

Option One- Refinance
You may be able to do this if you haven't yet fallen behind 30 days and there is some equity. If you are 30 days late or more you more than likely won't be able to refinance. 

Option Two - Sell with a Realtor 
This is a viable option if you have equity to pay the 6% commission. Although it can take up to 180 days to sell and sometimes even longer.

Option Three -  Sell FSBO
You can sell For Sale By Owner, this will save you the 6% commission, but now you have given yourself another full time job and it can still take 180 days or longer to sell.

Option Four - Go Current/Reinstate 
You can get the money to bring your loan up to date, if they will accept it before the Sheriff's sale. After the Sheriff's sale you will need the full amount of the loan plus interest and fees.  

Option Five - Loan Forbearance or Modification 
You may be able to negotiate, with your lender, an agreement to pay what you are behind. This agreement would need to be paid in a set time frame and would be in addition to your current payment. This new payment is almost always higher than before.       

Option Six - Let the Bank Take it Back
This is never a great option. Although many people feel is the only one. Of course the Lender will file a Deficiency Judgment against you. This will be for the amount that they have lost. This can haunt you for years to come.

Option Seven - Sell to Investor 
You can sell to an investor. As investors we can buy your home. Even if you have no equity or worse, you owe more than it's worth. If you are two to three months behind on payments or your home has already gone to Sheriff's sale, we can work with you. I will work directly with the bank, and handle everything for you, so you don't have the hassles.  This costs you nothing, because I am not acting as your Realtor. I am the buyer. The benefit to you? You get out of this without a Deficiency Judgment that can stay on your credit for 7-10 years.

If you would like to explore this last option and think it could best suit your situation, all you need to do is contact us and we will get to work ton this matter, privately and discreetly. You will need to fill out the information form and we will be on our way to trying to help you.

Thank you and best of luck with whatever decision you make.