If you are reading this, you may be facing a very tough decision: How do I save my home?
- Do you know who you are talking to? Is it your Lender or the Sericer hired by your Lender?
- Do you understand that servicers may have limitations on the programs they can offer to save your home.
- What department should you talk to? The department may change based on how far in the process you are.
- Do you understand that a Servicer can take more time before any decisions are made?
- Do you understand that Time is Of The Essence?
**Note: All links stay within our website except one. That goes to an official State of Michigan website.**
2 + Days Through 120 Days
- Where you are in this process is important.
- At 31+ days in most areas, this starts the foreclosure clock.
- Once the clock starts the lender and / or servicer may only be able to offer certain programs
- As the clock winds down, you will have less options available
- Click HERE for a .pdf copy of the Michigan / MSHDA Foreclosure Timeline.
- This link is from 2022 so there are a couple of programs not available on it.
- The link is offered only to give you a feel for a process and timeline.
- Lenders / Servicers must follow your state specific guidelines for this process
Possible Lender / Servicer Options
- You become current on your mortgage
- You agree to a re-payment plan for back amounts due
- ALL plans will require you to stay current on your payments
- Loan Modification
- Forbearance
- Mortgage Assumption sale
- Retail Sale
- Short Sale
- Wholesale Sale
**For more details on this go to our Save or Sell My Home page. Click HERE for more details**
45 + Days To Try To Save My Home
IF you are 45 + days late on your mortgage and have NOT received a Sheriff’s Sale notice. Below are things you need to know BEFORE you negotiate with your lender.
- Do you know what to prepare before you talk to your Lender? Click HERE for details.
- Do you have an accurate personal budget plan? Click HERE before talking finances with your Lender
- Do you know what to say to your Lender?
- Do you know what to NOT say to your Lender?
- Do you know what to ask of your Lender?
- TIME SENSITIVE. Do you know what options are available to you from your servicer?
- TIME SENSITIVE. Do you know what options are available from your lender?
- TIME SENSITIVE. Do you know if your loan is assumable?
- Do you know what your back amount due is today?
- Do you know how that amount can be be paid back?
- IF choosing to sell, do you know what your deficiency is?
- IF choosing to sell, do you know how that deficiency is to be paid?
- Do you understand ALL of your your options?
**IF you received a Sheriff’s Sale noptice, most Lender/Servicer options may not be available.**
As Licensed Real Estate Broker, I can answer most questions and help guide you through the processes so you can make an educated decision on whether to Save or Sell your home.
- Click HERE to learn more about me and how I can help.
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- Call us today @ (734) 362-9511!
Or click HERE to schedule your first FREE consulting call