Forclosure or Short sale..HELP

Severin Faulhaber is a great Realtor in your area! He has done many short sales. His phone number is: ###-###-#### He can talk to you about other options as well!

You need to talk to an attorney to find out your rights and liabilities (my property is in AZ and I had a couple of teleconferences for $300). Most banks will not consider a short sale unless you are 3 months in arrears on your mortgage - they figure if you are still paying the mortgage that you will continue ot pay it so they are not prepared to take the loss of a short sale. If you do have a short sale you need ot make sure it is 'clean' i.e. that the bank agrees to forgive the balance of the debt otherwise they can come after you for the difference. Also - as this is not your primary residence, and debt that is forgiven will probably be considered income by the IRS and they will tax you on it. Talk to a lawyer. Good luck, it's not a fun position to be in and you will have to make some very uncomfortable decisions (which will probably result in you defaulting on your mortgage).

Be careful of a real estate attorney because that could end up costing you even more money in the end. My husband and I own a real estate company and are brokers. We currently work with the banks on a ton of foreclosures and short sales. We would love to talk with you in regards to your options. We are located in Southern California (which gives us a ton of experience in this case since California's real estate was hit extremely hard), but have helped handfuls of our referrals in out of state areas. Please contact me through mamapedia and then we can go from there!

My experience with Gail Hodge at Real estate one has been above exceptional! We purchased a home on a short sale! it was a mess because we were renters who communicated to the owners that we wanted to purchase from the day we moved in and they let the home go into forclosure without telling us so Gail who was the realtor who helped us rent the home helped us purchase the home and she was wonderful! it started out with us trying to purchase the home in a forclosure but ended with a short sale. I do have more info to share you can call me at ###-###-####, at one point she did recommend a lawyer who was helpful to us.

Gail Hodge ###-###-####

Cherie

Jenni,

Jennifer Halucha is local Realtor well-versed in foreclosures/short sales. She lives and works in Troy. Not sure if that's where your rental property is, but at least she's in your area. She's very responsive and could give you some assistance. E-mail her at ____@____.com.

Regards, L.

Nina Fetzer is a wonderful realtor. I highly recommend her and she is very familiar with oakland county. She works with Century 21. Her email is ____@____.com . I can get her office number if you are interested.

My husband is a Realtor who is very experienced with short sales. He's "hands on" in dealing with banks and negotiating terms not just passing it off to someone else in the office. He's been in the Real Estate business for 15 years and before that worked in foreclosures. Not sure where you're located but he works out of Remax Vision in Huntington Woods, MI. He would gladly talk to you with no obligation, basically he just loves helping people out. He can be reached at ###-###-#### and his name is Robert Visingardi.

Good luck,
G.

I would look to a real estate attorney with experience in this area. That would be the person who would know if they can take your business due to a short sale.

try a guy named Dave Kwasney Hes out of suburban Remax he sold our home in 2 weeks. Hes at canal and schoehnerr. Also Make sure your business is LLC listed that way they can't do anything to your business.