WOW have things changed in one year!  We have now entered into a era of fraudulent bank documents!

Have you heard about Linda Green the Robo signer, Mers, Doc X, Or maybe the bank that you originally got your loan through sold it off so many times the note and mortgage are no longer together!   Can they really foreclose on you? Was there a sheriff sale? Have you thought about a redeption vs a foreclosure.  Would it work for you?   Quiet title? 

What do you do if your faced with Mortgage payments that look like you might not be able to make much longer? Is this a hardship situation?  What constitutes a hardship?  This is where I find a lot of people have no clue and honestly there are agents that don't know either. 

What do you do if you're in about to go into  foreclosure or it's pending soon?

Here are some options. Does the bank have the right to take your property? Can they prove they have the paper work to prove it. 

First thing to Remember is the bank does not want your home.  They are not in the business of selling homes!

It is in everyones best interest to deal with the pending reality.

You need to be up front and honest with the bank and explain your situation and ask if they are willing to help or have any solutions to your situation.  Yes this is the time to be completely honest about your job and any thing else that the bank ask.  Can you refinance at a lower rate? No harm in asking. If you find a buyer that is pre-approved but has offered much less than what is owed will the bank talk to you?  The answer is YES YES YES!

You don't have to wait till you can't pay!  Banks are now realizing that this could be an alternative.

I'm not making promises here but as an agent I have done this for a client.  My point is don't sit there and wait till you are in trouble. Talk to someone.  Your BANK First!

What ever the bank offers look at the credit consequences and tax consequences.

Here is some info I have if you live in Benzie County, MI

Benzie Housing Council 231-325-6400  Foreclosures and buying a home programs!

   Foreclosure solution if you qualify is to set you up on a land contract! Must be your Primary residence and you want to stay in your home.

   They have grant money available to help you get a home and are looking for 5 families to qualify

   Timing is important here.  Start with the Council and Pre-approval from bank before you find the house.

   One percent needed to buy a home on this program.

   Questions call me.  Mary 231-357-3000 or mary@marydewitt.com

Michigan Dept. Housing Development  - Program called - SAVE THE DREAM

www.michigan.gov/mshda  Then go to the Save the Dream link or Call 1866-946-7432

Not sure what this program is all about but hey they maybe able to help.  Be proactive!

I am willing to help...I can't save the world nor do I profess to do so.  But maybe I can enlighten a few people and help along the way. 

If you live outside of Benzie County Check with your County Goverment office and ask if they have a

Housing council..It may not be called that but that shouldn't stop you from finding out...get informed!

Mary DeWitt

Leelanau and Benzie Real Estate.com  with possible forclosure solutions!