Short Sale Services

Mortgage Legal Group of Michigan has resources and legal experts with experience in mortgage short sales and can provide support for mortgagors looking to begin the short sale process. The advantages of a short sale to the borrower are clear. Short sales allow the borrower to avoid the embarrassing foreclosure process from occurring, are far less damaging to their credit score and give the borrower some modicum of control over their financial future. Additionally, a short sale is typically faster and less expensive than a foreclosure. The fact of the matter is that many homeowners throughout the United States are living in houses that are just not worth what they purchased them for and a short sale is a process that enables a borrower to get out from under bad debt.

A short sale solution can be pursued whether or not a borrower is current on their mortgage loan. The only requirement for exploring a short sale is the mortgagor establishes that the house cannot be sold for more than what is owed. Most of the time though, short sale solutions are pursued when the mortgagor can no longer afford to make monthly mortgage payments and is nearing foreclosure or bankruptcy.

Often times, the short sale process is a long and difficult path requiring dozens of follow-up calls and meticulous note-taking. Some lenders will even refuse to start a short sale process if the mortgagor is current on their home mortgage. Being behind on payments is simply not a requirement for a short sale. Borrowers only need to prove a significant change in their economic situation that makes it impossible to continue paying their mortgage payments in accordance with the existing mortgage loan. The Mortgage Legal Group of Michigan provides borrowers with the analysis and information they need to begin an educated and predictable short sale process.

The Mortgage Legal Group reviews a borrower's economic situation including legal documents, verbal information and any other additional information in preparing a full-scale analysis of a borrower's options. The Mortgage Legal Group then advises the mortgagor on next steps so that the borrower can make an informed decision about which option is right for their situation. With the help of an attorney from the Mortgage Legal Group of Michigan, an action plan will be developed and implemented. This action plan will provide the borrower with a step-by-step breakdown of the short sale that is being sought so that the mortgagor is always fully aware of short sale status and is intimately familiar with every stage of the process.

The Mortgage Legal Group will also provide all the necessary logistics support that is essential to successfully attaining an effective and meaningful short sale. With the Mortgage Legal Group, every aspect of the short sale process is handled with a meticulous attention to detail so that the borrower does not need to spend all of his or her time worrying about how the foreclosure process will play out.

 

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