Short Sale Realtors: Bloomfield / Birmingham / Novi / Troy / Rochester / Beverly Hills / West Bloomfield / Franklin / Royal Oak / Huntington Woods / Oakland County / Detroit Metro Area The Mike Realtor Team! : October 2009

 This is a Royal Oak Short Sale that I listed and closed.  My seller needed to sell.  He was stuck in a predator loan with a very high monthly payment.  The balance of this loan was so high; I don't know how the borrowers could have qualified.  The loan was a no doc, stated income "liar loan".  The fees on the refinance were so high it was criminal.

The seller could not afford the loan in the first place and with the economic downturn he was certain to be foreclosed on.  The Seller and Buyer were both thrilled by  my services.   Without a Short Sale, the seller would have been foreclosed on.  This would result in years of debt and probable litigation.  

PROFILE:

Location:  Downtown, Royal Oak, MI                          

Type: Duplex 1930's, great location.

Condition:  Need of some repair.  Also need a variance to keep the multi-family zoning.

Lender #1:  Homecomings Financial

Amount Owed: 310,000

Sold Price: $195,000

Negotiation time: 2 month

Amount owed by seller post closing: zero

Seller's out of pocket costs:  0

Hardship: loss of income, failing business and need to reduce expenses.

Happy Seller, Happy Buyer and One less Foreclosure in Michigan.

 Call me, I can help

Sell My Home to Stop Foreclosure Now

 Mike Sher                                                                     

Office: (248) 644-4700x242   Fax :(248) 499-1020
4120 Telegraph Rd, Bloomfield Hills, MI 48302
E-mail: mike@mikerealtor.com            

Blog/Profile: http://activerain.com/mikerealtor  Web: www.mikerealtor.com                   

Linkedin: http://www.linkedin.com/in/mikesher  CDPE: http://hosted.cdpe.com/MikeRealtor/

 he Mike Realtor Team Blog - Metro Detroit/Oakland County

Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City

But, We Can Help!

This is a competitive real estate market.  If you have to sell and can not, perhaps it is time to look at a Short Sale.  The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.

This is a Novi Short Sale that I listed and closed.  My sellers needed to sell.  They were both affected by the economic downturn and were unable to continue paying for their monthly mortgage payments.  Their incomes were reduced to more then half of what they were making at the time the mortgage was originated.  The Sellers were thrilled with my services.   Without a Short Sale, they would have been foreclosed on.  This would result in years of debt and probable litigation.  

Some Homes have become an anchor that prevents the owner from progressing with the rest of their lives.  A SHORT SALE can cut the rope which allows the seller to move on to a brighter future with out the baggage of the past.    

PROFILE:

Location:  Island Lake Orchards, Novi, MI                          

Type: 2006 Toll Brother's Single Family Home, 3814 Sqft, 4 bed, 3.1 bath, basement and garage

Condition:  Fantastic with granite counter tops, remodeled baths and more.

Lender #1:  Country Wide/Bank of America

Amount Owed: $634,000

Lender #2: Community Choice Credit Union

Amount Owed: $90,000

Sold Price: $490,000

List Date: 02/07/2009

Closed Date 09/02/2009

Negotiation time: 2 month

Amount owed by seller post closing: Promissory note on the 2^nd lien.

Seller's out of pocket costs:  0

Hardship: loss of income, failing business and need to reduce expenses.

Happy Seller, Happy Buyer and One less Foreclosure in Michigan.

 Call me, I can help

Sell My Home to Stop Foreclosure Now

 Mike Sher                                                                     

Office: (248) 644-4700x242   Fax :(248) 499-1020
4120 Telegraph Rd, Bloomfield Hills, MI 48302
E-mail: mike@mikerealtor.com            

Blog/Profile: http://activerain.com/mikerealtor  Web: www.mikerealtor.com                   

Linkedin: http://www.linkedin.com/in/mikesher  CDPE: http://hosted.cdpe.com/MikeRealtor/

 he Mike Realtor Team Blog - Metro Detroit/Oakland County

Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City

But, We Can Help!

This is a competitive real estate market.  If you have to sell and can not, perhaps it is time to look at a Short Sale.  The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.

Here is a great site to evaluate if you are a good candidate for a Short Sale.  You will find great content like:

1. Foreclosures solutions
2. Short Sale explanation
3. FAQ's about Short Sales
4. Under resources you will find 3 reports
   1. Options and Solutions
   2. Foreclosure Vs. Short Sale
   3. 7 Short Sale Myths
5. Plus on the right side of the screen you will find a report on:
   1. Understand your options and learn what you can do next.

Both of the links below will get you to the site.  Call me if you have any questions or need my help.

Shortsaleoaklandcounty.com

Mike Sher                                                                     

Office: (248) 644-4700x242   Fax :(248) 499-1020
4120 Telegraph Rd, Bloomfield Hills, MI 48302
E-mail: mike@mikerealtor.com            

Blog/Profile: http://activerain.com/mikerealtor  Web: www.mikerealtor.com                   

Linkedin: http://www.linkedin.com/in/mikesher  CDPE: http://hosted.cdpe.com/MikeRealtor/

 he Mike Realtor Team Blog - Metro Detroit/Oakland County

Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City

But, We Can Help!

This is a competitive real estate market.  If you have to sell and can not, perhaps it is time to look at a Short Sale.  The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.

To all of my loyal Blog Readers and to those who just want to know where I am. I have accepted the position as the newest Associate Broker at Max Broock Realtors in Bloomfield Hill. Please feel free to contact me there for any of your Real Estate questions or needs. My new contact information is below.

Mike Sher                                                                     

Office: (248) 644-4700x242   Fax :(248) 499-1020
4120 Telegraph Rd, Bloomfield Hills, MI 48302
E-mail: mike@mikerealtor.com            

Blog/Profile: http://activerain.com/mikerealtor  Web: www.mikerealtor.com                   

Linkedin: http://www.linkedin.com/in/mikesher  CDPE: http://hosted.cdpe.com/MikeRealtor/

 To all of my loyal Blog Readers and to those who just want to know where I am.  I have accepted the position as the newest Associate Broker at Max Broock Realtors in Bloomfield Hill.  Please feel free to contact me there for any of your short sale questions or needs.  My new contact information is below.

Mike Sher                                                                     

Office: (248) 644-4700x242   Fax :(248) 499-1020
4120 Telegraph Rd, Bloomfield Hills, MI 48302
E-mail: mike@mikerealtor.com            

Blog/Profile: http://activerain.com/mikerealtor  Web: www.mikerealtor.com                   

Linkedin: http://www.linkedin.com/in/mikesher  CDPE: http://hosted.cdpe.com/MikeRealtor/

The Mike Realtor Team Blog - Metro Detroit/Oakland County

Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City

But, We Can Help!

This is a competitive real estate market.  If you have to sell and can not, perhaps it is time to look at a Short Sale.  The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.