Mike Realtor Team / Max Broock

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

Tue, 29 Jun 2010 11:35:04 GMT

MCARTroy/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)

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Short Sale Birmingham MI Just Sold, Oakland County MI Mike Sher 248 644-4700 x 242Max Broock Realtors

Tue, 29 Jun 2010 08:39:41 GMT

Short Sale Birmingham Just Sold, Oakland County MI Mike Sher Max Broock Realtors

The Mike Realtor Team sells Homes in Bloomfield, Birmingham, Beverly Hills, Farmington, West Bloomfield. Rochester, Troy, Huntington Woods, Royal Oak, Northville & Auburn Hills. Call us at (248) 644-4700 X 242 or check us out at www.ShortSaleOaklandCounty.com or www.mikerealtor.com Mike Sher

The Mike Realtor Team is proud to announce that our Birmingham Home has recently SOLD. With our 90% Short Sale success rate, the Mike Sher Team is has saved another home from Foreclosure. If you are looking to sell your home or looking to buy a great home for a great price, the Mike Sher Team is here to help. Call us at (248) 644-4700 X 242 or check us out at www.ShortSaleOaklandCounty.com or www.mikerealtor.com Mike Sher

Northville/Novi MI Short Sale Just Sold, Oakland County MI Mike Sher 248 644-4700 x 242Max Broock Realtors

Sat, 12 Jun 2010 11:01:35 GMT

Northville/Novi MI Short Sale Just Sold, Oakland County MI Mike Sher 248 644-4700 x 242Max Broock Realtors

Short Sale Northville Just Sold, Oakland County MI Mike Sher Max Broock Realtors

The Mike Realtor Team is proud to announce that our Northville Home has recently SOLD. With our 90% Short Sale success rate, the Mike Sher Team is has saved another home from Foreclosure. If you are looking to sell your home or looking to buy a great home for a great price, the Mike Sher Team is here to help. Call us at (248) 644-4700 X 242 or check us out at www.ShortSaleOaklandCounty.com or www.mikerealtor.com Mike Sher

Short Sale tip #44 Novi/Birmingham MI, 10 tips to may Bank of America's Equator move quicker! Mike Sher (248) 644-4700 x242 Max Broock Distress Expert.

Tue, 08 Jun 2010 09:07:14 GMT

Short Sale tip #44 Novi/Birmingham MI, 10 tips to may Bank of America's Equator move quicker! Mike Sher (248) 644-4700 x242 Max Broock Distress Expert

Mike Sher 2009 Track Record: 56 homes sold, 22 Short Sales and 365 of Focus

A ton of agents are complaining about equator and how it does not work well with Realtors. I think the bigger problem is that we Realtors need to figure out how to work with Equator. So here are ten ways to make equator "Realtor Friendly"!!

Download the BOA Short Sale Equator guide http://bankofamerica.reo.com/documents/AgentEducationGuide.pdf
In your listing presentation, prepare your seller on how to work with equator.
On your addendum's to your purchase agreement include "buyer agrees to supply listing agent first 5 digits of buyer's social security number, address, phone number and date of birth 24 hours after mutual acceptance of offer."
After starting the short sale on equator (make sure you seller is available) 3 way call 866.880.1232 to set up the borrower on Equator
PDF in advance, into individual files, the borrowers tax returns, last two pay stubs, bank statement, hardship letter, financial statement, w2's and etc.
Check Equator daily to see if you have any open tasks, complete them ASAP!
Email through equator 24 to 48 hours after you have completed a task.
Call equator weekly if your account has been idle on the BOA side, have the customer service person trigger the account.
upload bank statements and pay stubs when every your seller gets them.
if you lose the buyer, be prepared to start over again and not to lose your cool!!!

Good luck and for any Michigan short sale seller's out there, contact me. I would be glad to help.

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

West Bloomfield MI Short Sale Just Sold, Oakland County MI Certified Distress Property Expert

Fri, 04 Jun 2010 10:58:40 GMT

West Bloomfield MI Short Sale Just Sold, Oakland County MI Certified Distress Property Expert

The Mike Realtor Team sells Homes in Bloomfield, Birmingham, Beverly Hills, Farmington, West Bloomfield. Rochester, Troy, 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

The Mike Realtor Team is proud to announce that our West Bloomfield Home has recently SOLD. With our 90% Short Sale success rate, the Mike Sher Team is has saved another home from Foreclosure. If you are looking to sell your home or looking to buy a great home for a great price, the Mike Sher Team is here to help. Call us at (248) 644-4700 X 242 or check us out at www.ShortSaleOaklandCounty.com or www.mikerealtor.com Mike Sher

Franklin MI, Short Sale’s & REO’s = 60% of the Market, Can’t Run From it, Have to Embrace it! Mike Sher (248) 644-4700 Distress Property Expert.

Tue, 01 Jun 2010 09:12:03 GMT

Franklin MI, Short Sale’s & REO’s = 60% of the Market, Can’t Run From it, Have to Embrace it! Mike Sher (248) 644-4700 Distress Property Expert.

Three years ago the average realtor would not show a Foreclosure/Short sale home, let alone list one. At that time, 91.5% of sales were traditional retail. The fact that majority of agents would not touch those "Whole Sale" properties created a nitch for a few specialized Realtors. These agents learned how to work with distress properties. They became both successful and were able to make a living in a tough Real Estate market.

Now that 60% of home sales are distressed, every realtor, mortgage broker and Title Company have become A Short Sale Expert Overnight!! The traditional realtor needed to get in to the distress market to survive but often lacks the experience, understanding, patience and education to successfully sell a distress home. Also many listings were not short sales in the beginning. Later they find themselves underwater but locked in to a listing contract with a Realtor who has never sold a Short Sale before. Sadly many sellers lose their home because the agent they started are offten unequipped to handle the short sale.

That is why all of us Realtors need to get smarter and wiser about how to work with these properties. The sellers today will remember the agents that helped them when other would not. Those Sellers will also remember the pretenders, the agents with no education or experience who drove their client into foreclosure.

Short Sale Birmingham MI, Pick the Realtor with Experience! Mike Sher (248) 644-4700 x242 Max Broock Distress Expert.

Thu, 27 May 2010 08:11:13 GMT

Short Sale Birmingham MI, Pick the Realtor with Experience! Mike Sher

Mike Sher 2009 Track Record: 56 homes sold, 22 Short Sales and 365 of Focus

Many Short Sale sellers pick a Realtor because of a past real estate transactions or none real estate relationship. This Realtor is a friend, family, past buyer's agent or Sellers agent before the bottom dropped. Though that was the way to find a Realtor in the past, now you need a Realtor that is thriving in today market. With a Short Sale, you do not want the agent who is gaining on the job experience with your short sale.

Remember, with a short sale, you may only have one chance to get it right. That is why pick a Short Sale Realtor with a proven track record of success. Ask for proof of multiple past short sales sold, references and testimonials. Like the Testimonial below. More short sales fail then succeed often because the seller chooses the wrong Realtor.

To Whom This May Concern,

.11

We would like to thank Mike Sher and his team for all of their hard work with the Short Sale of our Royal Oak Sky Loft. Relocating to Brazil for work was stressful enough but to have to sell our home for half of what we paid for was terrifying. Though the process was not enjoyable what so ever, Mike was always confident that we would close. We were referred to Mike from our Realtor because she felt that he was the best person for the job and she was right.

He always pressed forward, even when the process looked hopeless, Mike never gave up. My wife and I would have been foreclosed on if it was not for him. Even when the bank wanted to set a forclosure date, Mike told me who to contact at the Trott & Trott and helped me prevent the bank from taking our home. When our Short Sale was rejected and we lost our buyer. Mike just started over and got another buyer, he reopen the file with Bank Of America and just went back to work. He made all the calls to the bank and made sure we would close.

I would recommend Mike Sher for anyone who needs to do a Short Sale or just wants a Realtor who knows how to get things done.

If you have any question, please let me know. Thanks,

Lukas Chung

lukaschung@hotmail.com

Oakland County Birmingham MI, Which is worse a "Foreclosure" or a "Short Sale"?

Sat, 24 Apr 2010 13:25:56 GMT

Oakland County Birmingham MI, Which is worse a "Foreclosure" or a "Short Sale"?

"Which is worse a ‘Foreclosure' or a ‘Short Sale'"?

I often get that question; "Which is worse a Foreclosure or a Short Sale?" And the answer is, without an ounce of doubt, foreclosure!!! First I need to tell you, I am not an attorney or a CPA, nor do I play one on TV (LOL). I am an on the battlefield, at the front lines, fighting the good fight, grit and grin Realtor! So, I feel I am qualified to give you my street-wise opinion.

First some Foreclosure Urban Legends,

Myth 1: "The bank wants your home and will forgive all debt if you just mail them the keys."

The Truth: The bank wants their money, and they want it all! Your home was the collateral but the note you signed at the closing table is your obligation!

Myth 2:"If your house gets foreclosed on, then all you owe is the note."

The Truth: You owe the original debt plus late payments, plus interest, plus legal fees, plus past taxes, plus realtor fees, etc $40,000 to $100,000 or even more!

Myth 3: "If you walk away, the lender does not have to foreclose on the property."

The Truth: Just because you send the keys to the bank does not mean they legally own it. So they still have to foreclose on you. In fact, often when you abandon your home, the outcome is far worse. The asset (home) could be vandalized, the roof could leak, the basement could flood, a squatter could enter, etc. If any of these issues occur while the bank waits to take possession, the eventual sale price will be less, the bank's costs will increase and your deficiency will grow.

Myth 4:"The bank will never find me."

The Truth: The bank WILL find you; it is just a matter of time. They have entire departments in place to find borrowers and collect their debt. Because of the sheer numbers and magnitude of these delinquent loans, there is A LOT of their money out there, and they want it back! So they will find you, and they are very capable of garnishing wages!

Myth 5: "You are not better off by doing a Short Sale vs. a Foreclosure."

The Truth: That is the big LIE! A Short Sale is far better than a Foreclosure!!!

1. In a Short Sale you negotiate your settlement; in a Foreclosure, your settlement is dictated to you by court order.

2. A Short Sale minimizes the bank's expenses which lessens your deficiency, while a Foreclosure skyrockets the amount owed.

3. With a Short Sale, you have a normal closing--with the buyer present, no eviction notices on the door, no embarrassment.

4. The big plus of a Short Sale vs. Foreclosure is that there is actual "closure" with the Short Sale. When we close, the seller knows the terms, the banks stop calling, and their credit begins to heal. With a Foreclosure, after the bank gets the house, they make repairs, pay taxes and try to sell it. Once sold, they file a judgment with a court of law, against the borrower for the deficiency amount (i.e., remaining amount still owed after the sale). At which point the lender has up to 10 years to collect on the owed debt. The borrower can be on the hook for more then 12 years before the coast is clear.

5. Credit rating is like the human body; the moment the trauma is over both the body and your credit rating begins to heal. A Short Sale is like a laceration and a Foreclosure is like a virus. With a Short Sale, your credit will begin to heal the day after closing. With a Foreclosure, not until the last collector gives up, will your credit see any relief.

Myth 6: A Foreclosure and a Short Sale are both easy to do.

The Truth: Yes a foreclosure is "easier" in that anyone can easily put their head in the sand and pray. A Short Sale is harder in that it takes more time and effort; your Realtor does the hard part, but the agent needs the seller's cooperation and due diligence.

RULES TO LIVE BY:

1. Make sure your Realtor is experienced in Short Sales. Often sellers have only one shot at doing this right. Some Realtors will tell you they do Short Sales, but you might be their first. Don't be afraid to ask for references of their past Short Sale clients.

2. Be careful of 3^rd party companies or scam artists that say they want to help you. They might be trying to make money off of your misfortune.

3. Be careful of Realtors who will farm out the Short Sale part to another company. Some Realtors want to take advantage of the Short Sale market but are not willing to get their hands dirty, passing the hard work to another party. This often ends worse for the borrower.

4. When in doubt always seek legal advice! Realtors are paid to sell your home and protect your sales interest. Attorneys and CPA's are paid to protect your greater interests-to look at the big picture of your financial situation.

5. If it is too good to be true, it probably is! Do not take the path of least resistance: hard work can almost always undo any misfortune.

If you have any questions about a Short Sale or if you are looking for a Short Sale Realtor in Southeast Michigan, feel free to contact me anytime.

Mike Sher

mike@mikerealtor.com

Royal Oak Mi, Another Short Sale Success Story!! Mike Sher, Max Broock

Sat, 24 Apr 2010 13:15:20 GMT

Royal Oak Mi, Another Short Sale Success Story!! Mike Sher, Max Broock

Here is another letter from a client that I did a Short Sale for. The sale of the home was for about 50% of what was owed, so the bank got about 50 cents on the $1. When I first met with the sellers, they were making an almost $3,000 payment on a home that was worth $112,000. Crazy, huh. Well, it all worked out in the end. Feel free to pass this letter to someone who is skeptical about short sales.

Mike Sher

To whom this may concern,

Mike Sher helped us short sale our home in Royal Oak recently. He negotiated with the bank and took care of everything. We had some problems with a buyer that walked away right before closing but Mike told us everything was going to work out. He immediately took the necessary steps to get us another buyer. We have heard a lot of stories of people being thrown out of their home by the bank or abandoning their home without leaving a forwarding address for fear the creditor would follow. We did not want to be that person.

Mike not only found us a buyer, but helped us redeem the deed from the bank and we closed without being foreclosed on. When faced with such uncertainty, it was comforting knowing that we had an honest person working for us. It was refreshing to have a normal closing with the buyer's across the table, and us being able to give them keys. It is never easy being in this situation; however Mike made this experience less painful.

Now that the Short Sale is over, we do not have to worry any more about our home or about collectors calling us. Since we have closed on the home, we have not had a single call or letter from our old mortgage company. We would recommend Mike to anyone who is facing a foreclosure or just can't sell their home because they owe more then what it is worth.

Sincerely

Michelle and David

Huntington Woods MI Short Sale Success goes beyond the commission check!

Sat, 24 Apr 2010 13:13:15 GMT

Huntington Woods MI Short Sale Success goes beyond the commission check!

Short Sale Success goes beyond the commission check. We as realtors, have the chance to help real people with real problems. Below is a letter that I just got from a client that I helped in a Short Sale. Until she met me she had never even heard of a Short Sale. Other Realtors were telling her that they could not help her and she should just walk away from the home. We were able to close before she was foreclosed on and the bank wrote off the deficiency. Feel free to pass this letter to clients who doubt our ability to help them

Mike Sher

June 12th

Earlier this year, I found myself in a dire financial situation from which it seemed there was no hope. I had missed a mortgage payment and other bills were piling up. I knew that if I were to catch up, within a few months, I would be facing a higher payment as my rate adjusted up. At that point, I realized that in order to make my mortgage payment, I would barely afford to pay for the gas and electricity, much less the gas to get to work!

I tried contacting my mortgage company multiple times to let them know that I was soon facing my second month without enough money to pay my mortgage, but after faxing over all my financial documents, communication came to a standstill.

I even contacted a lawyer to file bankruptcy. Thankfully, he recognized that the crux of my financial burden was my mortgage and he referred me to Mike Sher.

When I met with Mike for the first time, I was distraught and overwhelmed. He listened to me with compassion. What I appreciate from that first visit was the calm but thorough way he explained my options. He was very informative about the short sale process. I never felt pressured to make a decision on the spot or at any time throughout the selling process.

Although I agreed to sell my house, I admit, I was skeptical it would be sold. Mike answered all of my questions and allayed my fears with great patience.

He was very aggressive in marketing my house both in the traditional ways and on just about every internet site available. Each viewing and agents' comments were listed on a website where I could log in and get feedback.

Once we got an offer, Mike continued the hard work in communicating with the buyer's agent and my mortgage company. Many times, the process seemed confusing and long, but Mike explained everything in an understandable way. I never felt out of touch with what was happening. I felt secure that Mike was being my advocate.

Selling a house is no easy task in any economy. I truly appreciate Mik's knowledge and hard work in helping me get back on my feet financially and getting my house sold.

Thank you!

Sincerely,

Maria G.

Birmingham, MI Short Sale Listing 2550 Derby Is now Pending!! www.ShortSaleOaklandCounty.com

Sat, 24 Apr 2010 13:06:34 GMT

Birmingham, MI Short Sale Listing 2550 Derby Is now Pending!! www.ShortSaleOaklandCounty.com

The Mike Realtor Team is proud to announce that our Birmingham Short Sale listing of 2550 Derby is now pending Short Sale approval. With our 90% Short Sale success rate, the Mike Sher Team is confident that this home will close. If you are looking to sell your home or looking to buy a great home for a great price, the Mike Sher Team is here to help.

Call us at (248) 644-4700 or check us out at www.shortSaleOaklandCounty.com or www.mikerealtor.com

Mike Sher

Bloomfield Michigan: JUST SOLD Short Sale 338 Cranbrook!! by Mike Sher Realtor Team

Sat, 24 Apr 2010 13:05:24 GMT

Bloomfield Michigan: JUST SOLD Short Sale 338 Cranbrook!! by Mike Sher Realtor Team

The Mike Realtor Team is proud to announce that our Bloomfield Short Sale listing of 338 Cranbrook with Birmingham Schools has recently SOLD. With our 90% Short Sale success rate, the Mike Sher Team is has saved another home from Foreclosure. If you are looking to sell your home or looking to buy a great home for a great price, the Mike Sher Team is here to help. Call us at (248) 644-4700 or check us out at www.shortSaleOaklandCounty.com or www.mikerealtor.com Mike Sher

Birmingham Quarton Lake Michigan: JUST SOLD Short Sale 951 Fairfax!! by Mike Sher Realtor Team

Sat, 24 Apr 2010 13:03:19 GMT

Birmingham Quarton Lake Michigan: JUST SOLD Short Sale 951 Fairfax!! by Mike Sher Realtor Team

The Mike Realtor Team is proud to announce that our Quarton Lake Birmingham Short Sale listing of 951 Fairfax has recently SOLD. With our 90% Short Sale success rate, the Mike Sher Team is has saved another home from Foreclosure. If you are looking to sell your home or looking to buy a great home for a great price, the Mike Sher Team is here to help. Call us at (248) 644-4700 or check us out at www.mikerealtor.com Mike Sher

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

Sat, 24 Apr 2010 12:57:45 GMT

Get on the fast track to short sale success!

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/

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.

Birmingham Short Sale Tip#1, "Log Each Call and You Never Be wrong" Mike Sher, Max Broock Realtors, MI

Thu, 15 Apr 2010 11:02:14 GMT

Birmingham Short Sale Tip#1, "Log Each Call and You Never Be wrong" Mike Sher, Max Broock Realtors, MI

Option One Short Sale Log, Birmingham, MI

Here is a log for a short sale that I did with Option One. Thought it might be helpful.

Mike Sher  Max Broock  248 644-4700 X242

The Mike Realtor Team is proud to announce that 2009 we closed 56 homes, 22 of them short sales. With our 90% Short Sale success rate, the Mike Sher Team makes sure that each short sale makes it to the closing table. If you are looking to sell your home or looking to buy a great home for a great price, the Mike Sher Team is here to help. Call us at (248) 644-4700 or check us out at www.mikerealtor.com Mike Sher

COLLINSON SHORT SALE - PUBLIC NOTES

04/25/2009 08:43AM by Mike Sher - got the hud back signed by Option one and all is done and closed. I got less commission from the bank then what the listing agreement stated. The seller brought me a casher's check for the rest of my commission. I told her that I needed to get paid and my agreement was with her not the bank for my commission. So, she would have to pay me for any shortage or we could not close

04/25/2009 02:28PM by Mike Sher - Got Harry the then got Jamla 949 XXX-XXXX got a supervisor names Shanin, after waiting 30 mins on hold got to speak to Myra. She told me to email her the signed hud and she will change the letter

04/25/2009 12:20PM by Mike Sher - Called XXX XXX XXXX called loss mitigation, the approval letter was for a sale of $190,000. The sale was really for $192,000, because we had to add some concessions to the purchase to make it work while still giving option one the payoff they requested. The title company would not close the sale unless the approval letter state $92,000. So I had to call option one to get the letter changed.

04/24/2009 03:12PM by Mike Sher - called option one tried to talk to myra but her voice mail was full and had her message said she was going to be out 4/15 and 4/16. I dialed 0 and asked for the loss mitigation dept spoke to Amit of option one loan mitigation, he transferred me to the team leader Jermal lane and his voice mail is full

04/14/2009 09:17AM by Mike Sher - called Myra 800 704 0800 x XXXX her mail box was left her a message. She did call me back and said do not have the buyer call her any more. This offer was finale and that is it!!!

04/11/2009 02:38PM by Mike Sher - Seller emailed myra to plead for her help.

04/11/2009 02:37PM by Mike Sher - Myra called back and said the her offer was firm with not other negotiation.

04/11/2009 09:19AM by Mike Sher - called Myra 800 704 0800 x XXXX her mail box was full

04/10/2009 12:27PM by Katherine Green - Fran from John Adams. Mortgage person for Collinson. Faxed and emailed Myra a 4 page document with the changes. lender letter and note from melder, seller attorney

04/07/2009 03:39PM by Mike Sher - called myra 800 704-0800 x XXXX left her a message and will email her addendum

03/31/2009 10:43AM by Mike Sher - called myra and left a message and let her know that the deal is most likely dead since the buyer can only go up to 190K and that the buyer needed more concessions

03/31/2009 10:42AM by Mike Sher - Pat spoke to me on the phone today and told me that they need the concessions and can only go up to $190,000

3/26/08 Mike Sher Spoke to Myra and she said the bank got an appraisal at 214,000 and would not take less then 91K after all expenses including commissions. She also said they would not allow concessions over 3% I emailed Pat the counter

03/25/2009 01:29PM by Mike Sher - I spoke to Janeen the appraiser and she said she sent it today. I called Myra and let her know that the appraisal was done.

03/25/2009 01:28PM by Mike Sher - Myra called and told me that the appraisal was not done yet

03/24/2009 04:13PM by Mike Sher - sent a email to Myra

03/24/2009 03:29PM by Mike Sher - called agent back and I told her I was working on this as quick as we could. Please keep the buyer on this, we will work it out

03/24/2009 02:17PM by Mike Sher - called 800 704-0800 Myra x XXXX lm at her phone

03/19/2009 05:17PM by Mike Sher - Call Janeen. She did not get the email. I emailed it again and she said she thinks she has it

03/19/2009 05:13PM by Mike Sher - Janeen Cope did the appraisal for Option one

03/17/2009 05:13PM by Mike Sher -Emailed the pa XXXX@earthlink.net and faxed to XXX XXX XXXX to the appraiser Janeen Phone XXX XXX XXXX

03/14/2009 02:02PM by Katherine Green - e-mailed - Myra myra.xxxx@xxxc.com (negotiator Mike talked to 3/14/08) entire Short Sale package & offer (25 pages total)

03/14/2009 01:17PM by Mike Sher - next 3 business day a full appraisal within two weeks by the 28th then we will get answer back.

03/14/2009 01:07PM by Mike Sher - Myra called me today. She is going to order a appraisal. she is checking to see what she has from. Email myra.XXXX@oomc.com

03/14/2009 11:42AM by Mike Sher - Spoke to Gayatri. She told me that it takes up 14 business days from the March10th to get an answer from the negotiator. We can call the retention dept anytime to get an update

03/14/2009 11:37AM by Mike Sher - Called Myra at x XXXX got her voice mail and did not leave a message dialed 0 and got Brandon he transferred me to the Home retention dept 888 275-2648

03/13/2009 01:59PM by Mike Sher -called myra and got her voice mail again. I did not leave a message

03/13/2009 01:19PM by Mike Sher - Called Jeff at XXXX and got him. He said that this was not his file it is Myra x XXXX and she is back Called her and left a message

03/13/2009 01:03PM by Mike Sher - Jamal at 800 704-0800 x XXXX his voice mail was full.

03/12/2009 10:32AM by Mike Sher - spoke to buyer's agent. the buyer wants to know how much longer.

03/10/2009 01:44PM by Mike Sher - Spoke to Harneet she told me that the shortsale was delayed by seller's previous request of loan modification. She also told me that the short sale file was update on 3/7/08 and we do not have negotiator yet. She said I should call on March 17th. I told that I would like to call sooner. She said that I should call on the 14th.

03/10/2009 01:33PM by Mike Sher 800 704 0800 got receptionist and asked for retention dept

03/10/2009 01:31PM by Mike Sher - Called Jamal 800 704 0800 xXXX lm on his office number

03/07/2009 01:53PM by Mike Sher - called Jeff H. at xXXXX now I was told no negotiator

Is on this. Andy said home retention team, they got the offer 21st and that we should get call back 14 days after offer is in. He transferred me to Robyn and I explained the whole thing. Told her not to throw away the old offer. We do not want to start from the beginning

03/07/2009 01:21PM by Mike Sher - Ivan fax 866 452-XXXX walk it over jamal 800 704 0800 xXXXX Re-faxed the offer to Ivar.

03/07/2009 01:03PM by Mike Sher - Bhisheka from dept of home retention dept 888 275-XXX, was transferred to Sayli of the retention dept our new contact is Robyn D. x XXXX package is submitted for finale approval.. Spoke to Robyn who said she was work not on a short sale but a loan modification.. She told me that she did not know there was a short sale on this home. I told her that we spoke to Manish on the 22nd and said they had the hardship and offer in. Robyn thinks that Manish was confused and though we ment the hardship package for the loan modification. Robyn told me to faX the offer to Ivar at 866 452-XXXX and we would get a cal back next week. She said she would walk the file over to Jamal right now who is the head of the dept. Robyn told me to call Jamal at 800 704-0800 x XXXX if I did not here anything back in the 3 to 4 business days.

03/07/2009 10:06AM by Mike Sher - called jeff H at XXXX and did not leave a message.

03/06/2009 01:48PM by Mike Sher - Called Jeff H. at xxxxx and left a message.

03/06/2009 01:42PM by Mike Sher - Called Myra and she is on a leave of absence and all loans that end with 0 need to call xxxxx Jeff H.

03/06/2009 01:32PM by Mike Sher - 888 xxx xxxx called. Spoke to Ralph, he said we have a negotiator myra gliver 888 xxx xxxx X xxxxx. he has transferred me to her but it did not go through

03/05/2009 10:31AM by Mike Sher - called 888 xxx.xxxx they were closed will call back

02/22/2009 01:35PM by Katherine Green - Called 888 xxx.xxxx talked to Manish. They received our hardship package & offer. A negotiator will be assigned to the loan, the 1st update on loan acct, will be available to us on March 7. We need to call in on that day, will find out who the negotiator is and will get more information. They will tell us then if/what we need to do next. If they need more info before then, they will contact us or the homeowner. I told him to please contact us. The process will take 30 - 60 days.

02/20/2009 03:03PM by Katherine Green - Faxed ENTIRE packet again, with all of this enclosed...Fax Cover said this along with address, loan #, & Seller's name, and Mike's # to contact: Enclosed you will find: Purchase Agreement and buyer/seller signed disclosures, buyer FHA addendums, buyer pre-approval letter & copy of Ernest Money deposit check, hardship letter,, Estimated HUD 1, Most Recent W-2, last 2 months of pay stubs, last 2 months of bank statements.

02/20/2009 01:57PM by Katherine Green - Jamilla XXXXXX said she may be submitting an offer in the next day or two.

02/20/2009 12:14PM by Katherine Green - Called to confirm best fax # to send offer to, spoke with Bear id# BH5. He said Authorizations go to this # 949.xxx.xxxx. Offers are faxed to this # 866- xxx.xxxx . Faxing over offer from Pat Wolgost. I asked Baer if we could call tomorrow to confirm they received the offer, he said no wait 72 hours. Said Mr. Sher would have to call though.

Fax Cover said this along with address, loan #, & Maria's name: Enclosed you will find: Purchase Agreement and buyer/seller signed disclosures, buyer FHA addendums, buyer pre-approval letter & copy of Ernest Money deposit check, hardship letter,, Estimated HUD 1, Most Recent W-2, last 2 months of pay stubs, last 2 months of bank statements.

02/18/2009 11:27AM by Mike Sher - gave offer info to Jan for Capital to make me a HUD

02/18/2009 11:18AM by Mike Sher - offer terms 185,000, credit $4,700 for FHA, Dwp $4,300 April 20th, 100 repairs, $300, water escrow

02/18/2009 10:49AM by Mike Sher - called 888 xxx.xxxx. No one was able to talk at that time.

02/18/2009 10:47AM by Mike Sher -Here is a email that i Sent to the seller: Hope all is well. We hopefully will be getting an offer soon on your home. In the mean time I wanted to forward you a few comments that the buyer's agent gave me. Her buyer is buying FHA and she told me that in the basement under the porch there is a bucket and some towels that make it look like there is a leak. She recommends removing the bucket and towels. Also in the basement a vent near the furnace has been blocked off in a way that could be a fire hazard. Lastly she wanted to know if the basement water proofing has a transferable home warranty.

02/4/2009 10:40AM by Mike Sher - got a fax showing that I have auth with option one.

01/30/2009 12:54PM by Mike Sher - 2 month pay stubs and 2 month bank statements, most recent w2, sign pa, and estimated HUD 1, pre approval letter from buyer, Listing agreement, hardship letter, phone number to call for questions(888) xxx-xxxx Retention dept. spoke Ashish

01/30/2009 12:48PM by Mike Sher - they still do not have the auth!! all offers faxed to 866-497-1265 att: retention

01/30/2009 12:39PM by Mike Sher - bank phone hours 8:30-5:30 pacific

01/28/2009 02:11PM by Mike Sher - spoke to rep at the bank. They still do not have the auth. they told me to call Tuesday

01/28/2009 12:18PM by Katherine Green - Status on MLS - Active

01/25/2009 12:19PM by Mike Sher - spoke to a Customer rep. they did not get the authorization. I will fax it again now.

01/18/2009 04:14PM by Katherine Green - kg Called (800) xxx.xxxx Attn: Customer Resolution Dept: Loan # on Authorization, Fax: 949.xxx.xxxx. Fax over, allow 5 - 7 Days to process. Faxed over Auth Letter 1.18.08. Call Friday 1.25.08 & see if they've received it.

01/18/2009 04:06PM by Katherine Green - Option One Mortgage - Loan # xxxxxxxxxx

01/18/2009 04:02PM by Katherine Green - ss# xxx-xx-xxxx

Royal Oak Short Sale Realtor client says thank you!!! Oakland Michigan

Tue, 29 Dec 2009 08:33:23 GMT

Royal Oak Short Sale Realtor client says thank you!!! Oakland Michigan

Just closed my 21st short sale this year!! Below is a letter from my client.

Dear Mike,

I just want to thank you again for all the hard work you did in short-selling my condo in Royal Oak. In these times that are extremely difficult financially for so many people, you are making a true difference in so many people's lives. You helped to save me from having to go into foreclosure. You were confident and encouraging the entire time, and I think it was your positive energy that helped us to hurdle all the obstacles in the path. Thank you also for always keeping me up to date the entire time with e-mails and records of how you were creatively advertising my condo., scheduling all the showings, all the phone calls to the bank, and finally all the phone calls with the buyers. You made the whole process smooth sailing.

You have an amazing gift, and your integrity in your business dealings shines through. Now, I feel hope to go on with my life and make a fresh start. I'll be sure to refer you to anyone I come across who needs similar help.

Take care and Happy New Year!

Sincerely,
T. K.

Practical Thoughts About Short Sales, Birmimgham Realtor, MI

Sat, 14 Nov 2009 14:24:58 GMT

Practical Thoughts About Short Sales, Birmimgham Realtor, MI

Dear Oakland County Seller,

I have completed my 14th short sale this year, and I still have to just feel my way through the trials and tribulations of the processes. One thing that truly confuses me is how all of these "Short Sale Experts" tell us what banks will or will not to do, like they were Moses on the mount, explaining the 10 commandments. How could anyone know what a mega large bank will or will not do.

Here are my thoughts;

A large bank has 1000's patients (loans) on a operating table that are hemorrhaging in 100,000 of different places.
Each bank has 100’s of doctors (mitigation officers), Nurses (retention dept), Emergency room staff (Customer Service Dept) and Hospital administrators, (mitigation supervisors).
Now each one of these loans is a patient that is dying quickly. None of the above bank employees have time to evaluate or diagnose the why, where’s and how’s of each file. They just want to Triage the file and decide if they can (a) reinstate the loan, (b) short sale the loan or (c) send it to the morgue (REO Dept)

That being the case, everything is possible. The bank does not want another property in their inventory. Each mitigation officer handles things differently. Just like a police officer pulling you over for speeding. They may just give you a warning or they could throw the book at you or every other thing in between. So never pre-judge. Try, try and try again. Make sure your seller is willing to work as hard and that they are committed to seeing this through. Be bold, If other’s can so can you!! Short Sales are won and lost in the last 7 days of the transaction not the first 11 weeks. Meaning, finish, finish, finish, fight to the buzzer and you will always walk away with no regrets.

Below are my 7 rules that I live by in short sales:

The bank does not want the home, between foreclosure and shortsale, they will choose shortsale 9 out of 10 times.
Never lose your cool with the bank, be nice and kill them with kindness, we are all working for the same outcome.
The person who represents the bank, Represents the Bank!! They are working for the banks best interest. You have to work with them but you do not work for them.
The bank is negotiable but you could always get a Clint Eastwood (cowboy), which is someone who will go down with the ship to prove they were Right. Hence, sometimes the seller has to give in to get out.
Log everything; track your calls, faxes and emails. With out a log, you are in a fog on a never ending jog.
Remember that anything is possible, no mater how reasonable or unreasonable it may see.
Last rule is "time is not your friend". Get an offer, get the documents to the bank, get a contact, keep the pressure on, call, call, call, email, email, email, fax, fax, fax, confirm that they got what you sent and get it closed before the buzzer!!!!... If the buzzer goes off, ask for an extension, the sun will rise the next day. Today's lemons are tomorrows lemon aid.

So, get calling!!

Mike Sher

The Truth About Mortgage Modifications

Mon, 02 Nov 2009 08:23:31 GMT

The Truth About Mortgage Modifications

The decisions you make as a homeowner today hold a profound impact on your financial future. However, it is important to safeguard yourself from misinformation and fraud. Get the facts regarding your situation and always have a contingency plan.

For those who qualify, a mortgage modification is the ideal remedy to their financial distress. I’ve prepared a FREE report on the truth about mortgage modifications to guide you through this important process. Simply provide your information below to get this valuable information, and feel free to pass it along to anyone who may need it. One homeowner lost to foreclosure is one too many!

As a Certified Distressed Property Expert, I have training and experience in providing solutions to homeowners facing financial hardship. Together, we can formulate a plan to get back on track.

If you have any unanswered questions, or your circumstances are urgent, please call me today.

Mike Sher
248 644-4700 X242

Options and Solutions

Thank you for visiting this site and taking the first step toward finding answers. I appreciate what it has taken for you to come here, and commend your efforts to get the facts about your situation. The current real estate environment can be frustrating, with misinformation and conflicting plans for how to proceed.

As a real estate agent, what I often see in troubled homeowners is a belief that they are alone with their challenges. Regrettably, over 70% of homeowners in foreclosure proceed without ANY visible assistance. This is not acceptable for the communities I serve.

That's why I've developed this site: to ensure you get the valuable resources that can reduce your financial strain and change your life for the better. As a CDPE I know the options for homeowners in foreclosure or delinquent on their mortgages, and I can send you a report detailing this information, prepared just for you.

Simply enter your information below and click "Send." I hope that you will review this information carefully, so that your next steps are the right steps toward a real solution.

Let me help you evaluate your options and get back on track to a solid, stable future.

Foreclosure Vs. Short Sale

As a Certified Distressed Property Expert, I have devoted my career to helping homeowners who face difficult situations, taking them from uncertainty to resolution. Lately I've found a lot of conflicting information going around, especially concerning short sales, which you should know about.

A short sale occurs when a lender accepts the selling price of a home, even if it is less than the full amount owed on the mortgage. For particular homeowners, this can be the best option to foreclosure. Yet, I still hear people suggest that short sales are basically the same as foreclosure.

This is absolutely wrong!

You need to have the CORRECT information. That’s why I'm glad you're here. To help, I’ve prepared a free report—just for you—that compares the realities of foreclosures and short sales side-by-side. Simply provide your information below, and I'll send you this report.

If you have any additional concerns about this issue, or your circumstances are urgent, please feel free to give me a call. I can help you evaluate your options and get you back on track to a secure financial future.

Mike Sher 248 548-9100 x127

7 Short Sale Myths

There are millions of homeowners just like you who are looking for answers and don’t know what to do. You’re not alone and you’re in the right place.

As a Certified Distressed Property Expert, I have training and experience in providing solutions to homeowners facing financial hardship. Despite my best efforts, there’s still an overwhelming amount of misinformation about the options available, especially short sales.

To give you a better idea of the short sale option, and to set straight some of the myths you may have heard, I’ve prepared a free report just for you - please fill out the information below to receive your free report. This report will clarify the following myths:

The Bank Would Rather Foreclose Than Bother With A Short Sale
You Must Be Behind On Your Mortgage To Negotiate A Short Sale
There Is Not Enough Time To Negotiate A Short Sale Before My Foreclosure
Listing My Home As A Short Sale Is An Embarrassment
Short Sales Are Impossible And Never Get Approved
Banks Are Waiting On A Bailout And Not Accepting Short Sales
Buyers Are Not Interested In Short Sale Properties

These ideas are potentially harmful to homeowners seeking real solutions. I hope you’ll review this information for yourself or share it with a homeowner in need.

In these times, we all need to know the truth to know how to get back on track.

If you have any additional concerns about this issue, or your circumstances are urgent, please give me a call.

Mike Sher
248 548-9100 x127

Short Sale & Deed-In-Lieu

Contrary to what you may have heard, lenders actually want to avoid foreclosure wherever possible. That’s why they’re accepting more short sale and deed-in-lieu transactions everyday in an effort to eliminate unnecessary foreclosures. This is great news for homeowners facing financial distress.

To help you understand more about these two options, I’ve prepared a free report just for you, called ‘Short Sale & Deed-in-Lieu: Dignified Solutions.’ To receive your free report, please provide your information in the fields below.

I hope you’ll review these options carefully and pass this information along to those who may need it. I commend your efforts to finding a solution to the difficult financial situation that you or someone you know is currently facing. Providing the best advice and information in your time of need is my priority.

Let me help you evaluate your options and get you back on track to a secure financial future.

Your First Steps To Avoid Foreclosure

Your First Steps

In today’s market, 1 in 7 homeowners is having trouble paying the mortgage. More than 70% of these homeowners proceed without seeking assistance or getting the facts. Many do not even realize that foreclosure is a process, and that there is time to make decisions that may result in a better outcome.

You are not alone. Millions of other homeowners nationwide are in the same circumstances. To assist you, I’ve prepared a free report outlining the first steps a homeowner should take when facing a foreclosure.

Fill out your information below for this free report. Don’t hesitate. Get back on track today!

Strategic Defaults are NOT Strategic

Walking Away Is NOT The Answer

You may have heard that a “strategic default” can be an appropriate and even beneficial reaction to an upside-down mortgage or impending foreclosure. While this idea is widespread, the truth is that default is never an easy road to choose, and rarely ever strategic.

Unfortunately, the ramifications of a “strategic default” are rarely explained, leaving many homeowners stranded on an island of misinformation. To assist you, I’ve prepared a free report outlining the myths and misrepresentations of strategic defaults.

Fill out your information below for this free report. Don’t hesitate. Get the facts today!

Avoiding Mortgage Modification Fraud

I Am An Agent Against Mortgage Fraud!

The last thing struggling homeowners need is to be victimized by fraud. Sadly, some people are preying on those who need help the most. Today, the real estate industry is the newest, biggest target for predatory schemes. In fact, the U.S. Attorney General, Eric Holder, stated that mortgage fraud cases are 400 percent higher than they were five years ago.

With nearly 1 in 6 homeowners unable to pay their mortgages, understand that you are not alone. Knowing your legitimate foreclosure-avoidance options is the best way to fight this terrible trend.

The report on this site will tell you how to avoid mortgage fraud schemes, as well as what solutions are available to you. Enter your information below and get the facts now!