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 2nd 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.
