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! : Michigan: Bloomfield

Great news!!! Finally Bank of America has changed their Equator rules to allow Realtors to switch buyer's if the first buyer walks away. This will improve the short sale process for Bank of America Serviced loans. This is great for the seller, great for the investor and great for the buyer. By allowing Realtors the option of swapping buyers, the short sale time process will be greatly reduced. If you have any Short Sale questions and live in Oakland County, please give me a call at 248 644-4700 x 242

Now You Can Substitute a New Buyer for One Who Walked Without Restart

Unsubscribe Instructions This is a promotional email from Bank of America. You can unsubscribe from future promotional email, now or anytime in the future, by updating your Email Preferences. Questions / Comments: If you have any questions or comments related to Bank of America's short sale process please contact our Customer Care line at 1-866-880-1232 or visit bankofamerica.com/realestateagent Privacy and Security Keeping your financial information secure is one of our most important responsibilities. For an explanation of how we manage customer information, please read our Privacy Policy. You can also learn how Bank of America keeps your personal information secure and how you can help protect yourself. Bank of America Short Sale 8th Floor, 101 S. Tryon St. Charlotte, NC 28255-0001 Bank of America, N.A. Member FDIC.  Equal Housing Lender © 2011 Bank of America Corporation. All rights reserved.

Bloomfield Michigan Short Sale Expert Press Release "Struggling Homeowners Seeking to Work With Lenders to Find Solution" Mike Sher (248) 644-4700x242, Max Broock

FOR IMMEDIATE RELEASE                               

For more information, please contact:   Mike Sher, Max Broock Realtors ,248 496-1572,  mike@mikerealtor.com

Local Agent Releases New Report for Struggling Homeowners Seeking to Work With Lenders to Find Solution 

Online report outlines foreclosure alternatives for homeowners struggling to make mortgage payments in Oakland, Macomb and Wayne/Detroit Metro Area.

Bloomfield Hills, Michigan- 1/25/2011 - Local CDPE-designated agent, Mike Sher of Max Broock Realtors has developed a website providing information describing several opportunities for homeowners to avoid the negative financial impact of foreclosure. 

This community resource is available at www.ShortSaleOaklandCounty.com  and defines foreclosure alternatives, including short sales, loan modifications and deeds-in-lieu of foreclosure. 

"The New Year is when most Americans set goals to increase their financial stability, but for many in Detroiters, financial stability seems unattainable," Sher said.  "With this report, I'm showing homeowners that they have options and that lenders are now more than ever willing to work with them."

According to Fitch Ratings, lenders are projected to lose 45-85% of the initial loan amount in foreclosure sales in 2011. In a short sale transaction, homeowners avoid foreclosure by working with their lenders and selling their property for less than the mortgage amount owed. Although lenders accept less, the financial loss is far less severe than a foreclosure.

"In the New Year, we all want to look forward to a prosperous future and it's frustrating when stability seems out of reach," Sher said.  "What struggling homeowners need to understand is that there are alternatives to foreclosure. All they need to do is ask for help."

The CDPE Designation Sher has acquired provides a specific understanding of the complex issues confronting distressed homeowners.  Through comprehensive training and experience, CDPE-designated agents are able to provide solutions for homeowners facing financial hardship in today's market.

To learn more, visit www.ShortSaleOaklandCounty.com

Bloomfield/Birmingham/West Bloomfield Short Sale-Foreclosure Prevention Seminar.

This seminar will cover the basics on foreclosure avoidance with Short Sales.  Mike Sher has helped dozens of home owners avoid foreclosure.  He is a Short Sale instructor for the Michigan Association of CPA's, Metropolitan Consolidated Association of Realtors, Real Estate One and Max Broock Realtors.  Mike has also been a expert panelist for the Real Investors of Oakland County and the Financial Planners Association of Michigan.  Mike is a guest Short Sale expert for Fox 2 News and is often a contributor to the Birmingham Bloomfield Eagle and West Bloomfield Beacon. 

Topics to be covered:

• Pros and cons of Foreclosure and Short Sale
• Bankruptcy
• Deed-in-lieu
• Sheriff sales
• Redemption
• 1099C's and forgiveness of debt
• Hafa, Fnma and Freddie Mac short sale rules
• Common misconceptions of Short Sales
• Mitigating the damage of Foreclosure
• How to purchase a Foreclosure or Short Sale
• Post Foreclosure/Short Sale options.
• Strategic Default

 Please contact us at 248 644-4700 x 242 or ShortSale@MikeRealtor.com  If you can not wait for our next Seminar or unable to attend, call us, Foreclosure is ALWAYS time sensitive!!

Recently I heard another agent yelling on the phone with a loss mitigation rep for a short sale. She was screaming “you better take this offer or your bank will go under and you’ll be out of a job”. Well in a few weeks, the home was foreclosed on and the agent was out of a sale.

It is not their fault that the mortgage terms were unfair, or that borrower can not pay the loan anymore, they are just hired to make the best of the bad hand that was dealt. They do like being yelled at, criticized, or bad mouthed for things out of their control. They, like us represent a client, “the investor” and they have plenty of job security, so if your short sale is rejected because you treated them like a bat boy in a farm league, they’ll still have a job. But, you might not!!

Let’s get back to basics, a broker once told me “treat everyone as if they had $5,000 to give to anyone who treated them nicely.” We give our clients our best face, so lets share that with the banks. I try to find out where my loss mitt rep is from and make some small talk. Find a common bond and smile. Yes, I smile, and though the poor, underpaid, mistreated, often verbally abused bank employee on the other end might not see it, but they feel it.

So, I would bet you that if you were just nice to them, you would be closing more, quicker and you might just start having fun again.

Need more information, call me !

 Mike Sher,

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

CDPE (Certified Distress Property Expert)

MCAR, Short Sale Trainer

Max Brook and Real Estate One Short Sale Specialist.

 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