Property values in Macomb County and the surrounding areas continue to drop.  Many homeowners who can no longer continue to make their mortgage payments are in a situation where they owe more on the home than the current market value.  One way to prevent foreclosure is a Short Sale.

 A Short Sale is when a mortgage lender agrees to take less than what is owed.

The primary objective in a Short Sale is to avoid foreclosure and allow you a fresh start. 

Our goal is to negotiate a lower amount as payoff and a full settlement release of your mortgage obligations. This means that the lender will not come after you for any remaining debt.  In some cases, the lender will ask the homeowner to obtain a personal loan for part or all of the unpaid balance.  If you are not agreeable with this, you are not obligated to move forward with the sale. 

One reality of a short sale of your home is that you are not allowed to receive any proceeds from the sale of your home.

That is to be decided by your lender.  Not everyone does.  The lender has to see a reason that you are no longer able to make your payments.  This is known as a "Hardship".  It could be that you lost income, or your adjustable mortgage payment rose, illness or death in the family, or many other financial hardships that may have caused you to fall behind on your mortgage.  We will need to submit a document package to your lender to determine whether they will accept a short payoff.