Short Sale Birmingham Just Sold, Oakland County MI Mike Sher Max Broock Realtors 

The Mike Realtor Team sells Homes in Bloomfield, Birmingham, Beverly Hills, Farmington, West Bloomfield. Rochester, Troy, Huntington Woods, Royal Oak, Northville & Auburn Hills. Call us at (248) 644-4700 X 242 or check us out at www.ShortSaleOaklandCounty.com or www.mikerealtor.com Mike Sher

The Mike Realtor Team is proud to announce that our Birmingham Home has recently SOLD. With our 90% Short Sale success rate, the Mike Sher Team is has saved another home from Foreclosure. If you are looking to sell your home or looking to buy a great home for a great price, the Mike Sher Team is here to help. Call us at (248) 644-4700 X 242 or check us out at www.ShortSaleOaklandCounty.com or www.mikerealtor.com Mike Sher

Great news!!! Freddie Mac and Fannie Mae are now processing their loans though the HAFA guidelines.  This will open up the opportunity for many home owners to sell thier home with less repercussions then a foreclosure!!

Call Mike Sher at 248 644-4700 for Michigan Short SaleSeller soultions

 Read the below article by Carrie Bay of DSnews.com

GSEs to Begin Accepting HAFA Short Sales

By: Carrie Bay 06/01/2010  DSnews.com

Fannie Mae and Freddie Macboth issued new guidelines to servicers Tuesday, which allow homeowners with GSE loans to pursue a short sale or deed-in-lieu of foreclosure if they are unable to secure a modification under the government's foreclosure prevention program.

When the Treasury's Home Affordable Foreclosure Alternatives (HAFA) program rolled out in early April, officials explained that the GSEs' loans were not eligible - an interesting omission considering Fannie and Freddie are operating under full government control and have been positioned as the support columns of the administration's response to the housing crisis.

The GSEs' exclusion from HAFA was puzzling to a number of industry experts and a common query posed by our DSNews.com readers. In response, Treasury officials said then that they were anticipating Fannie and Freddie to launch their own short sale-friendly programs - and those announcements came Tuesday.

Both Fannie Mae and Freddie Mac encouraged servicers to begin implementing their HAFA procedures "immediately." By August 1, 2010, all Fannie Mae and

Freddie Mac servicers must have incorporated HAFA into their operations and begin offering HAFA solutions to eligible borrowers. The program is effective through December 31, 2012.

Like the original HAFA guidelines issued from Treasury, Fannie and Freddie loans must first be found eligible for the Home Affordable Modification Program (HAMP). If the borrower then fails to fulfill their HAMP obligations, a HAFA short sale or deed-in-lieu will be offered, but unlike the non-GSE HAFA program, Fannie and Freddie stipulate that HAFA can be applied only after "all other home retention workout options have been exhausted."

According to the HAFA servicing guideissued by Fannie Mae, "All servicers must implement Fannie Mae's HAFA for all conventional mortgage loans that are held in Fannie Mae's portfolio, that are part of an MBS [mortgage-backed securities] pool that has the special servicing option, or that are part of a shared-risk MBS pool for which Fannie Mae markets the acquired property.

Freddie Mac's HAFA servicing bulletinspecifies "first-lien mortgages owned, guaranteed, or securitized by Freddie Mac that were originated on or before January 1, 2009."

The GSEs will pay financial incentives to both servicers and borrowers who make use of a short sale or a deed-in-lieu to avoid a foreclosure on a HAMP-eligible loan. Servicers will receive $2,200 for every HAFA short sale and $1,500 for every HAFA deed-in-lieu completed. Borrowers are entitled to an incentive payment of $3,000 to assist with relocation expenses.

The Treasury recently raised its HAFA payouts. For both short sales and deeds-in-lieu completed on non-GSE loans, servicers get $1,500, and $3,000 goes to the borrower.

©2010 DS News. All Rights Reserved.

Mike Sher 2009 Track Record: 56 homes sold, 22 Short Sales and 365 of Focus  

Many Short Sale sellers pick a Realtor because of a past real estate transactions or none real estate relationship.   This Realtor is a friend, family, past buyer's agent or Sellers agent before the bottom dropped.  Though that was the way to find a Realtor in the past, now you need a Realtor that is thriving in today market.  With a Short Sale, you do not want the agent who is gaining on the job experience with your short sale.   

Remember, with a short sale, you may only have one chance to get it right.  That is why pick a Short Sale Realtor with a proven track record of success.  Ask for proof of multiple past short sales sold, references and testimonials.  Like the Testimonial below.  More short sales fail then succeed often because the seller chooses the wrong Realtor.

 The Mike Realtor Team sells Homes in Bloomfield, Birmingham, Beverly Hills, Farmington, West Bloomfield. Rochester, Troy, Novi, Huntington Woods, Royal Oak & Auburn Hills. Call us at (248) 644-4700 X 242 or check us out at www.ShortSaleOaklandCounty.com or www.mikerealtor.com Mike Sher

Birmingham MI Short Sale Tip #41, 10 reasons why to avoid Foreclosure, Expert, Michigan. If you are facing foreclosure, please read the list below. But do not lose hope; my brokerage has helped 100’s Detroiters avoid foreclosure with a short sale. Do not become a statistic, call me today at (248) 644-4700 x242, email mike@mikerealtor.com or find me on the web: www.ShortSaleOaklandCounty.com We have a 90% success rate and we will provide both answers and references. Mike Sher, Max Broock Realtors.

1. You cannot buy again for 5 to 10 years.

2. A foreclosure is stuck on your credit for 7 to 10 years.

3. Most employers pull credit which will hurt you chances of future gainful employment.

4. It is hard to get a security license when you have a foreclosure on your record.

5. Foreclosure is losing power and giving in to the banks.

6. In most States, you will still owe the debt even when they foreclose on you.

7. Your credit shows your credit worthiness, poor credit sadly is viewed as a bad person.

8. A Bank owned homes sells for 35% to 45% less then a Short Sale; this hurts your neighbors and friends.

9. A Foreclosure is public information and everyone will know you sad situation.

10. Most landlords choose tenants on credit; it will be hard to find a new place to live.

Call me if you are ready to help yourself!!

Mike

Why Fight Foreclosure Alone!

There is big news for homeowners in America. In an effort to slow the rising number of foreclosures, a government-backed program has been released: the Home Affordable Foreclosure Alternatives Program (HAFA). Basically, the program aims to save as many Americans from foreclosure as possible, which also saves the overall value of the surrounding communities.

HAFA offers a $3,000 homeowner incentive for successful short sales or deeds-in-lieu, and also guards the homeowner from harmful lender actions.

To learn more and find out if you are eligible, you can download my free report here:

http://shortsaleoaklandcounty.com/

With one in six homeowners struggling to make mortgage payments, there is probably someone you know who could use this information.

As a Certified Distressed Property Expert, I am trained specifically on how to assist homeowners dealing with financial hardship. If you or anyone needs professional help with foreclosure avoidance, please contact me right away.

I'm here to help.

Mike Sher
Max Broock
248 644-4700 X242

Government Programs …
Check Your Eligibility Now.

There are a number of government programs available to provide you with solutions. See which program below matches your situation best, and then take the survey to see if you are eligible.

http://www.shortsaleoaklandcounty.com/Eligibility.aspx

 Mike Sher

Max Broock Realtor, Bloomfield Hills

(248) 644-4700

ShortSaleOaklandCounty.com

 The Mike Realtor Team is proud to announce that our Quarton Lake Birmingham Short Sale listing of 951 Fairfax has recently SOLD. With our 90% Short Sale success rate, the Mike Sher Team is has saved another home from Foreclosure. If you are looking to sell your home or looking to buy a great home for a great price, the Mike Sher Team is here to help. Call us at (248) 644-4700 or check us out at  www.mikerealtor.com Mike Sher

The old saying is still true, “people to don’t plan to fail, they fail to plan. Short Sales are predictably un-predictable. What does that mean? You can always predict that something will go wrong, or will be missed, or overlooked. So, it is time to remember what was passed on from one Boy Scout to Boy Scout, “Be Prepared”. So basic and yet so wise!

Be Prepared:

1. Order Pre-title.

2. Only take a short sale that you know you can close.

3. Be confident but not cocky.

4. Make sure the offer you accept is one that will make value.

5. Meet the BPO Agent

6. Educate the seller before you start the process.

7. Educate the buyer before you start the process.

8. Never make promises that you can’t keep.

9. Call the bank back the same day they called you, in fact always call everyone back.

10. Give good news quick and bad news quicker.

11. Prepare the borrower for the best case and worst case outcome before you list the home.

12. Treat everyone honestly.

13. Read every document before acting.

14. Know the local laws and any changes that have occurred.

15. Never give up. If you take a Short Sale listing on, it is yours to finish.

16. Give it 100% and everything else will work out.

17. Remember, the Realtors job is to make sure everyone else does their job. “The Buck Stops With You”

18. Call the bank three times a week

19. Ask the bank the right questions, even if you think you already know the answers.

20. Know the process.

21. Do not skip steps even if it will save you some time.

22. Always have a plan B.

23. Have a Plan C, just in case.

24. A Short Sale is like Chess, must think 4 steps ahead.

25. Keep all parties informed and never lose hope.

The most important thing is to prepare for the fact that the seller, the buyer and the community are counting on you to get this short sale done. With Short Sales, we assume the responsibility that if we fail, the seller may not get a 2nd chance. Only take a Short Sale on if “You Plan NOT to Fail!!! “

Mike Sher

56 homes sold in 2009, 22 of them short sale listings!

Office: (248) 644-4700x242 Fax :(248) 499-1020

4120 Telegraph Rd, Bloomfield Hills, MI 48302 E-mail: mike@mikerealtor.com www.ShortSaleOaklandCounty.com    Blog/Profile: www.mikerealtorblog.com

Web: www.mikerealtor.com

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.

Just closed my 21st short sale this year!!  Below is a letter from my client. 

Dear Mike,

I just want to thank you again for all the hard work you did in short-selling my condo in Royal Oak. In these times that are extremely difficult financially for so many people, you are making a true difference in so many people's lives. You helped to save me from having to go into foreclosure. You were confident and encouraging the entire time, and I think it was your positive energy that helped us to hurdle all the obstacles in the path. Thank you also for always keeping me up to date the entire time with e-mails and records of how you were creatively advertising my condo., scheduling all the showings, all the phone calls to the bank, and finally all the phone calls with the buyers. You made the whole process smooth sailing.

You have an amazing gift, and your integrity in your business dealings shines through. Now, I feel hope to go on with my life and make a fresh start. I'll be sure to refer you to anyone I come across who needs similar help.

Take care and Happy New Year!

Sincerely,
T. K.

Mike Sher 

ShortSaleOaklandCounry.com

Max Broock Realtors

(248) 644-4700  or ShortSale@mikerealtor.com

There are millions of homeowners who owe more on their home than it's worth and don't know what to do. If you or someone you know is in this situation, I'm here to let you know that there are answers.

However, there's also a lot of confusion in the market today. One myth I often hear is that one particular option-a Short Sale-is basically the same as foreclosure. The people who say this couldn't be more wrong!

I want you to know the real facts, and to let you know that there are answers available.

At WWW.ShortSaleOaklandCounty.com I've prepared a free report to illustrate the differences between a short sale and a foreclosure - so you can see the advantages for yourself! This report shows the consequences of both, and provides valuable information about your options.

As a Certified Distressed Property Expert, I have seen the advantages a short sale can have on a homeowner's financial future as an alternative to foreclosure.  I have a strong understanding of foreclosure avoidance options, and I am trained to execute a short sale quickly.

I sincerely hope that you will use this information and pass it along to those in need. Getting the right information is the key to getting back on track.

Please, contact me any time with your questions or concerns.

I'm here to help.

Mike Sher
Max Broock
248 644-4700 X242