Short Sales & Foreclosures
Southeast Michigan Short Sales and Foreclosure Properties

Should You Walk Away from Your Home or Do a Short Sale?

What is a Short Sale

"Short sale" is a term used to describe the sale of a home for less than the seller owes to his or her mortgage lender. The reasons for a Michigan short sale are varied:

1. The mortgage melt-down caused home prices to fall below the properties' current market values.
2. “Exotic” and “alternative” mortgage loans put borrowers into 100% plus financing situations where only the interest was being paid.
3. Borrowers with subprime mortgages paid high interest rates due to low credit ratings.
4. Second mortgages and home equity lines of credit caused homeowners to owe more than their home was worth.
5. Personal hardships such as job loss, illness, reduced work hours, etc.

Short sales are, by far, preferable to foreclosures and a short sale should be considered if a borrower is having difficulty making his or her mortgage payments.

Sellers

Top 10 things you must know before you decide to do a Michigan short sale.

Buyers

6 Things to consider before you purchase a southeast Michigan short sale or one of the Michigan foreclosures.

As a REALTOR® and licensed real estate lawyer since 1986, Lee Morof is uniquely qualified to help you through the entire process of a short sale on your home. Hire Lee and you'll get “two for one” – both real estate expertise and legal knowledge.

Do you want to know if you qualify for a southeast Michigan short sale property? Just fill out the form below to ask Lee Morof!

Lee has been invaluable to me and has a ‘get it done’ attitude.
I initially got Lee Morof's business card from a friend who said that he was terrific and that I wouldn't be disappointed. Truer words were never spoken. This man came to me with a "get it done" attitude. Lee came prepared with comps, market strategy and a real plan to help me sell my home on short sale. He spent time walking through my condo, giving me tips and recommendations to make my home more appealing to buyers. He really understood my situation and needs and sold my condo in record time. I say record time because I had previously listed my condo with 3 different real estate companies, listing 3 to 9 months with each one, without success. I was ready now to walk away. Lee brought me lots of prospective buyers and I ended up with 2 offers within 5 weeks. Lee kept me updated either by phone or email and addressed all my questions promptly. Lee has been invaluable to me. He knows his business well and is willing to expend the time and energy necessary to get the job done. I would highly recommend Lee to anyone looking for an agent who is supportive, responsive, and ensures that all i's are properly dotted and t's crossed to accelerate a smooth closing. Thanks Lee and best wishes on your continued success. - Dawn McDuffey

Thank you for requesting information. We'll hold your contact information in confidence and use it only to personally contact you.

DON'T WALK AWAY!

If you are thinking about just "walking away" from your home, don’t! Try a short sale first. Anyone who tells you to do otherwise is simply giving you horrible advice the consequences of which will follow you for the rest of your life! To get help with a short sale on your home, call me directly at 248-514-2640 or contact me today.

IMPORTANT NOTICE: RE/MAX Showcase Homes and Lee Morof are not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.