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: Rochester Hills

Certified Distress Property Expert Rochester Hills Michigan, "FTC validates that Realtors play a vital role in Short Sale Success" Mike Sher, Max Broock, 248 644-4700x242

On July 15^th the FTC (Federal Trade Commission) statement admitted that their December 1^st 2010 MARS (Mortgage Assistance Relief Service) Rule, which created penalties and limitations for parties (including Realtors) who offer mortgage assistance for homeowners, had"...unintended consequences that might result from applications of the advance fee ban, in the context of a real estate professional assisting a consumer in negotiating or obtaining a short sale "  For that reason, the FTC will place "a forbearance of enforcement  that applies ONLY to REAL ESTATE BROKERS...who assist consumers in negotiating or obtaining short sale...:

This ruling proves that Real Estate Agents play a fundamental role in the short sale process.  If you are or someone you know needs to sell their home and has a loan that is greater than the value,  I urge you to find a local realtor who specializes in short sale or call me and I can help or refer you to a qualified agent in your area.  

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  

As you can probably imagine, I have been busy helping distressed homeowners, and I wanted to take this opportunity to get in touch and offer my assistance to anyone you know who might be in a similar situation.

You've probably read or heard in the news that politicians across the nation are asking for a federal foreclosure moratorium. This may seem like a gift, especially during the holidays, but the reality is that a foreclosure freeze is not the answer to the problem of foreclosure.

You may know by now that I've earned my Certified Distressed Property Expert designation, and I am extensively trained to help homeowners who feel like they have no control over their situation take back this part of their lives.  I can provide important information, like the Five Steps to Avoid Foreclosure.

I've put together the five steps in a report that can be downloaded on a website I've set up:

http://shortsaleoaklandcounty.com/Freezes-in-Foreclosure.aspx

Please send this link to anyone who might find it helpful today.  The first step for any distressed homeowner to avoid foreclosure is to take action now!

I hope you and yours have a wonderful holiday season and I look forward to hearing from you.

Sincerely yours,

Mike Sher
mike@mikerealtor.com
248 496-1572

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Short Sale Rochester Hills MI 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 & 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 Rochester 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

This will be my last Short Sale Class, so if you missed the others or you are looking for an update, it will be worth your time to come.  I will have two guests with me, Aric Melder (bankruptcy Attorney) and Brent Jones (CPA).  We will cover how to negotiate short sales in detail, the legal and tax consequences of these transactions.  All three of us are local professionals with real word experience. We can not run from them anymore, so we best learn how to do them right.

Come and check it out.

Mike

Foreclosure agents presently control a high percentage of the homes-sold market share: short sales are a way for traditional REALTORS® to capture that business. Short sales allow you to have saleable-priced listings that will attract more showings, sign calls, Internet leads and help control inventory. Short sales will keep you busy.

Topics include prospecting for short sales; converting a phone call to an appointment; listing presentations; hardship, documents and how to protect your commission; introduce yourself to the bank; handling offers and working with the bank; keeping the buyer, the buyer's agent, the seller and the bank focused and calm; pitfalls to avoid during the process; and more.

September 25: 9:30 am - 12:30 pm (Clinton Twp.) | FREE

Contact (MCAR) Metropolitan Consolidated Association of REALTORS® to sign up
Phone: (248) 879-5730 Fax: (248) 879-8280

Office: (248) 644-4700x242 Fax :(248) 499-1020 4120 Telegraph Rd, 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

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.

Often, sellers think that sending house keys to bank will satisfy their obligation.  It will not.  When the borrower closed their loan they signed two documents; first, "A Note" which is a promise to pay and second "The Mortgage" offering the home as collateral. 

These are two different documents; the loan is a promise to pay the FULL AMOUNT owed or amounts if you have multiple notes/loans.  The MORTGAGE, allows the bank to seize the asset, BUT it does not allow forgiveness if the asset is worth less then the note.  The bank can and most likely will at some date try to collect the difference.   They can hire collection companies, attorneys and even garnish wages.   The bank can also 1099 you for the charge off and put a foreclosure on your credit record.

So to walk away is just a short term solution to a much larger problem, a band-aid for a bullet wound.  Before your client puts those keys in an envelope, have them seek legal advice and review the many other options like Short Sales, Loan Modification, Repayment Plans and/or Deed in Lieu.

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)

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

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.