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: Troy

Short Sale Troy, MI When Facing Foreclosure: Research, Educate and then Act. By Mike Sher, (248) 644-4700 x242 Max Broock

 Short Sale Troy, MI When Facing Foreclosure: Research, Educate and then Act.

By Mike Sher, (248) 644-4700 x242 Max Broock

Often you will find ads that are miracle solutions to your financial problems.  "A Magic Bullet" that if you pay $XXX then all of you financial woes will be solved.  Remember what your mother said, "if it is too good to be true, it most likely is." You must Avoid Loan Scams.  Take charge of the process:

Do your research, learn about the options; both the positive and negative outcomes.  Educate yourself so when you meet a "Foreclosure Solution Provider", you understand what they are offering and if it sounds accurate to what you learned. Lastly you must act; doing nothing will only cause more damage and hardship to your credit, your family & yourself.  Once you've done your research through education, you then can act with a confidence that will lead you out of hole and into the light!

Mike Sher of Max Broock Realtors is offering free foreclosure avoidance with Short Sales seminars at 6pm on 8/10, 8/17 and 8/23.  Call him at 248-644-4700 x242, email: team@MikeRealtor.com.  Also learn more at www.ShortSaleOaklandCounty.com

 Mike Sher

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

1 commentMike Sher • August 04 2010 02:52PM

Troy/Rochester MI Fast Track to Short Sale July 28th. Mike Sher, (248) 644-4700 x 242, Max Broock


MCAR is proud to present Fast Track to Short Sale Success, a program designed to help today's agents guide clients through the short sale and foreclosure process. The last time we offered this program it filled up quickly, so don't miss this fresh opportunity to put yourself on the Fast Track on July 28 (register). Even better: the event is free for MCAR members!

Fast Track to Short Sale Success covers the "What," "Where" and "Why" of the short sale process from three different perspectives. Learn the roles and responsibilities of the REALTOR®, the negotiator and the foreclosure attorney during the short sale process. Understanding the core goals of each party involved in the short sale transaction will lead to smoother interactions and a more positive experience for your clients.

Additional topics include:

  • The REALTOR'S® role in the short sale transaction and fiduciary reasonability in a short sale
  • Understanding HAMP, HAFA for non-GSEs and the new HAFA for Fannie Mae and Freddie Mac starting August 1, 2010
  • Issues that may arise after the short sale
  • What short sale transactions will look like in the future
  • And MUCH more

Fast Track to Short Sale Success, presented by Mike Sher, is Wednesday, July 28 from 3 pm - 5 pm at MCAR's Troy location. Click here to register online.

Copyright © 2010 Metropolitan Consolidated Association of REALTORS®
2125 Butterfield Rd., Suite 100 | Troy, MI 48084
(248) 879-5730 (phone) | (248) 879-8280 (fax)

 

 

  

 

 

2 commentsMike Sher • June 29 2010 12:30PM

Troy MI, Fast Track To Short Sale Success May 18th with Mike Sher, Orlans and Bank of America,

 

 

Get on the fast track to short sale success!

Fast Track to Short Sale Success

MCAR and Bank of America are proud to present Fast Track to Short Sale Success, a new program designed to help today’s agents guide clients through the short sale and foreclosure process. Put yourself on the Fast Track on May 18 (register); the event is free for MCAR members.

Fast Track to Short Sale Success covers the “What,” “Where” and “Why” of the short sale process from three different perspectives. Learn the roles and responsibilities of the REALTOR®, the negotiator and the foreclosure attorney during the short sale process. Understanding the core goals of each party involved in the short sale transaction will lead to smoother interactions and a more positive experience for your clients.

Additional topics include:

  • The REALTOR’S® role in the short sale transaction and fiduciary reasonability in a short sale
  • Why the bank would choose a foreclosure over a short sale
  • Bank of America’s policies both pre- and post-HAFA
  • Issues that may arise after the short sale
  • What short sale transactions will look like in the future
  • And MUCH more

Fast Track to Short Sale Success is Tuesday, May 18 from 9 am – 12 pm. Click here to register online.

 

Presenter bios:

Mike Sher
Mike Sher has been a top-producing REALTOR® since 2000. He has assisted and closed hundreds of short sale approvals and acted as a short sales consultant, expert panelist and short sales instructor – his short sale programs are an MCAR favorite.

Mark C. Stevens
Mark C. Stevens has over 30 years of leadership in the mortgage finance arena and is currently the Divisional Sales Performance Executive for the Midwest and Northeast Division at Bank of America. His role at Bank of America requires him to be well versed in the short sale processes, and he’s eager to share his knowledge with MCAR’s REALTOR® members.

Brian Henry
Brian Henry is the Senior Manager for Community Services and Business Development for Orlans Associates PC and eTitle Agency, Inc. He has over 28 years of expertise in real estate law, business law, and commercial litigation – experience that can help today’s REALTOR® succeed despite a rapidly changing market.

May 18: 9 am – 12 pm | FREE FOR MEMBERS Phone: (248) 879-5730 Fax: (248) 879-8280

 

 

Mike Sher,

Max Broock Realtors, 248 644-4700 x242

www.MikeRealtorBlog.com

http://www.shortsaleoaklandcounty.com/

 

 

2 commentsMike Sher • April 24 2010 12:43PM

Birmingham MI Equator Bank Of America Short Sale Log Troy Real Estate Agent

Short Sale, Troy MI.  By Mike Sher, Max Broock Realtors, Bloomfield Hills, Michigan

I just got my first equator BOA short sale approved. Both the first and 2nd were with BOA and they negotiated the loans together, which was nice. Time line as follows:

9/9/09 faxed the hardship and offer to to BOA in 10 page faxes.
9/24/09, they did not have the fax yet though re-faxed 3 times. Found a Short Sale person who allowed me to email it to him to be uploaded
10/1/2009 Exterior BPO was done
10/7/09 file was moved o REO Trans
10/20/09 seller and Mike Sher uploads all docs and full package to REO Trans/Equator
10/27/09 interior BPO done
11/10/09 negotiator emails us to say we are waiting for payoffs from investor
11/23/09 Titanium solutions calls me to tell me that they are taking over. They ask for full package again plus some new documents.
11/23/09 to 1/05/2010 Titanium has three representatives ask me for the same documents 3 times. At the same time REO Trans is emailing me asking for the same update information.  Nether of them acknowledge the others updates

Titanium is telling us that they are in charge not REO Trans while REO Trans is telling us that they in charge not Titanium.

1/6/10 Reo Trans/Equator now counters the offer. Not in price but more in some small closing costs and changing the 2nd lien payoff from $3000 to $5000.

1/7/10 buyer accepts the counter offer and I send a new HUD
1/7/10 Equator asked for a quick change in the HUD by email
1/11/10 Equator asks to accept their counter offer again, we say yes.
1/12/10 Message from Equator "THIS FILE WAS SUBMITTED TO THE MI CO FOR REVIEW, WILL SUBMIT IT TO THE INVESTOR FOLLOWING RESPONSE "
1/23/10 the short sale was approved in writing.

Now we are off to close. 

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/OaklandCounty 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.

17 commentsMike Sher • January 26 2010 08:39AM

Short Sale Realtor Tip #22, I will be on a Short Sale Panel Real Estate Investor’s Association (REIA) Of Oakland, On Thursday August 13th 2009 from 7-9:30pm in Troy Michigan! Mike Sher

See the information below or just click the link.  This should be a good opportunity for those of you who would like to hear three different professionals who are all working on short sales.  Hope some of you can make it.  If you can come, please come up to me and introduce yourself, like to know someone is reading my blog.

Mike 

http://www.reiaofoakland.com/home.html

Proudly Presents
August 13, 2009
  

Short Sale Panel   

"Short Sales Aren't Worth My Time"
"Short Sales Never Close"
"Short Sales Take Too Long"
"The Banks Take Too Long"

Have We Covered All Of The Excuses Why You Don't Like Short Sales?

How About The Real Reason?

You Don't Know How To Do Short Sales The Right Way!  We have assembled some of the best and brightest Short Sale Wizards from the Detroit Area to give you the inside story on how to do a short sale.  They have agreed to a no-holds barred expose of their tried and true secrets to getting a short sale done.    If you have ever done a short sale, you know how frustrating it is, and how the lenders all seem to have some secret code that you can't break.  Given the hundreds and hundreds of short sales these Wizards have performed, they're sure to answer the hardest question you can throw at them.

Bring your impossible case, and let these experts tell you what they would do in your shoes.  Join us for an informative meeting this month!    

Join us for an informative meeting this month!    

 _________________________________
Meeting Location
Michigan State University Management Education Center 811 W. Square Lake Road Troy, MI 48098

_________________________________

Meeting Schedule 5:30pm - 7:15pm Early Bird Q&A and Vendor Expo 7:15pm - 9:30pm General Membership Meeting and Guest Speaker
         The public is welcome to attend at any of the above times.  
It is not necessary to attend all night.
      
_________________________________   Cost  REIA of Oakland Member - FREE Non-member - $20.00 

_________________________________

 

 About REIA of Oakland 

Thank you for your interest in the Real Estate Investors Association of Oakland.  REIA of Oakland is a non-profit organization founded in 1981 run entirely by volunteers.  Our goals include providing education to our members, providing professional networking, and monitoring the political and legislative environment as it affects the real estate investment business.  Our meetings are held on the second Thursday of each month at the MSU Management Education Center in Troy, 811 West Square Lake Road Troy, MI 48098  Click here for a map.

The meetings begin at 6:00pm with an hour of networking and an informal Early Bird Q&A session.  The seminar portion of the meeting runs from 7:15-9:30pm. Each month we have a different guest speaker, including national speakers on topics useful to  real estate investors. The formal presentation is followed by a question and answer session.

In addition to free admission to our monthly meetings, joining REIA has many benefits for real estate investors from novice to pro.  Visit our membership page here for more details about the benefits of membership.

Non-Members are welcome at the monthly meetings.  The monthly seminars are free for members and $20.00 for non-members.

 

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

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.

 

 

1 commentMike Sher • August 12 2009 10:20AM

Short Sale Realtor Tip #21, To Become a Short Sale Expert, you Need to Be a Short Sale Expert, Troy, Michigan! Mike Sher

Experts become experts when others seek their advice.  What does that mean?  Well, it is like the old saying, "if a tree falls in the woods and no one is there to witness it, did it really happen?"  The answer is if no one saw it or heard it, then it never happened.  Like that tree, if no one sees or hears you, you might not be an expert.

I am a Short Sale Expert because; I have, and continue to, offer my advice and guidance through my blogs, my Short Sale classes through our area board of Realtors and through serving on expert panels. Like the panel I will be on Thursday August 13th at the Real Estate Investors Association of Oakland: http://www.reiaofoakland.com/home.html  I also openly lend my time to help other Realtorsor short sale sellers that have an agent who can not answer their questions.

So, if you have any short sale knowledge,  and if you have read my blogs then have tons (harder-har-har), then become and expert.  Ask you broker to speak about short sales to your office, write a blog, speak on the subject to all of the associations that you belong to, professional, charitable and social.

If you are speaking about short sales in the woods and someone is listening then you are an expert!!!

GO GET'EM TIGER!!!

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

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.

0 commentsMike Sher • August 12 2009 10:01AM

Short Sale Class in Troy, MI June 25th 9am-12pm

 I am teaching another short Sale class on June 25th, 9am-12PM

Come and check it out.

Mike

Thriving with Short Sales

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.

When: June 25: 9 am - 12 pm (Troy) | FREE

Where : MCAR, 2125 Butterfield Dr, Troy, MI 48084-3441

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

 

 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

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.

 

2 commentsMike Sher • June 08 2009 11:53AM

Short Sale Realtor tip #11, Just because it works in your State does not mean it works in mine, Troy, MI

Many short sale specialists out there are ready to sell you books, tapes, videos and coaching time no matter where you live as long as you have a major credit card.  Plus if you google "short sales tips, help or expert", you will find 100,000's of gurus (including Mike Realtor) dishing out short sale gospel like Moses on the Rock.

Well, here is a little tip; each state is different when it comes to short sales, foreclosures, deficiencies, sheriff sales, property taxes, deed laws, redemption periods and etc.  I live in Michigan where;

•·        Michigan has  redemption rights, but other states like Texas has no redemption

•·        Michigan is a Dower state while other states are Community property or Curtesy

•·        Michigan is a "Foreclosure by Advertisement" while other states may be "Foreclosure by Action"

•·        Michigan is a recourse state while others like Minnesota are non-recourse

•·        Michigan prorates taxes in advance while others are in the rears.

These are just a few examples of some differences between Michigan and other states.  Many Short Sale experts like to make a general statement of fact that may only be true in their neck of the woods.  Following good advice in one state could be dangerous advice in your state

Check the facts, call your local board of Realtors, talk to a Real Estate attorney and never believe what you read just because someone wrote it.

 

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  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

1 commentMike Sher • May 13 2009 08:48AM

Short Sale Realtor tip #10, Top 5 reasons to choose Short Sale over Foreclosure, Troy, MI

Short Sale Realtor tip #10, Top 5 reasons why a seller should choose a Short Sale over a Foreclosure, Troy, MI:

  1. With a Short Sale, you have Leverage to negotiate terms with the bank, a Foreclosure you have none.
  2. Often with a foreclosure, the asset is worth less then the note so the investor can hire an attorney to collect through wage garnishment and liens up to 10 years or longer.
  3. A Foreclosure must be disclosed on future applications for credit and employment.  Plus, security clearances can be revoked, denied or limited.
  4. A foreclosure on your credit report is almost impossible to repair and the drop of credit score takes years to recover from.
  5. Choosing a Short Sale shows that you made the best of a bad situation.  It is something that you will look back at and say "it was not easy, but I feel better about taking control of life, and that has value".

 

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  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

0 commentsMike Sher • May 07 2009 09:54AM