Home Selling in 48239>Question Details

Anna, Home Owner in 48240

I live in Redford and owe 80,000. In my area the houses are going for 25 to 30,000. I need out of here and can't wait for the market to turn.

Asked by Anna, 48240 Sun Nov 6, 2011


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Normally I would say this is a terrible idea, but you need to walk away. Redford is slowly being sucked in by the urban vacuum that is Detroit. It is not coming back and will only get worse. When you can buy a house in Farmington Hills or Livonia for a little more money and the schools are far superior, there is nothing to prop up Redford or Southfield. Buy your new home first somewhere else, and then walk away from the Redford house. Your credit will take a beating for a while, so finance everything else you need first.
0 votes Thank Flag Link Tue Feb 4, 2014
I went thru a HAFA short sale on our house in Phoenix and closed in Jan., 2012. We were about $120,000 underwater, lost our jobs and missed a few house payments and got $3,000 moving expense at closing. A short sale will ding your credit but is better that going thru foreclosure. See a Realtor that specializes in short sales.
Ted, Phoenix
0 votes Thank Flag Link Wed Mar 28, 2012
You are in a very unfortunate situation.
There are real solutions. However, it is important to work with a multi-dimensional real estate agent. Agents of this discipline will analyze several exit strategies for you.

Be very aware,
Tune out the rest of the noise. And let there be no mistake...it is all just noise.

We don't know what is compelling your need to move. There is much we do not know that can have significant influence on the outcome. The right agent will know how to strategically neutralize unfavorable variables.

Now, as you evaluate who can best deliver the best results for you, skip the agents who do not answer their phone and those whose solution primarily relies on putting a sign in the yard and waiting for a buyer to start the short sale process.

Now, it is important for you to understand how a real estate professional is paid. Apply that knowledge and math to a sale of $25,000. The possibility of an agent losing money on such sales is quite real. The agent who knows what they are doing, will present their solution and give you a fraction of a second to accept. There simply is no money for the agent to spend any time persuading you. Their solution, however, will be clear and no-nonsense. Be aware, there is no shortage of homeowners in need such services.

A good start is the best predictor of a good ending. There may be preliminary steps you must take to position you correctly for the very best outcome. Your situation will dictate what, if any, preliminary strategies are needed. Go ahead and google 'Foreclosure Defense 48240' and read some of the advise provided on the attorney websites. This will serve you well as the sale of your home progresses.

I wish the very best of results for you and your family.
Web Reference: http://www.MyDunedin.com
0 votes Thank Flag Link Sat Mar 3, 2012
Do not walk away. A foreclosure follows you for years. A short sale does not. As I informed you earlier , We have several good short sale teams at my office. Take the first step and email me. You will at least get sound advice. don't ruin your credit. Steve
Web Reference: http://www.michiganhome.net
0 votes Thank Flag Link Sat Mar 3, 2012
I'm not an attorney nor a CPA, but a short sale might be an option. Contact a real estate agent who knows the short sale process.
Let me know if I can be of help.
Web Reference: http://ShortSaleInfoMI.com
0 votes Thank Flag Link Fri Mar 2, 2012
Do what everyone else does...let everyone else take the financial hit for you. I am disgusted on how everyone just walks away from their house loans and buys a bigger house for less money. This is why our economy is so freaking bad! Get a grip and your big girl panties and figure out yourself how to pay your morgage on house that is worth less then the current market value! Rent it out and have someone else pay your morgage until the economy turns around and you can afford to sell it ! Wow.. novel concept.
0 votes Thank Flag Link Wed Nov 30, 2011
Hello Anna,

You are the PERFECT candidate for a Short Sale. Call me and we can set up a consultation to go over the specifics of a Short Sale. Not to sound like a commercial, but you have heard our commercials on the radio I am sure, 877-CALL-WILL.

We are the Number 1 Short Sale Company in the State of Michigan. It is a a bit daunting and scary for you I am sure, but we will handle everything for you.

Call me personally and I will go over everything with you, (248) 379-6547. We have three (3) offices to make it easy for you.

Our web site;


Thanks and I hope to hear from you,

0 votes Thank Flag Link Fri Nov 11, 2011
I am not a short sale specialist. However we have 2 teams that are BIG in the business and are very good at what they do. Email me if you wish to be referred. Take Care. Steve
Web Reference: http://www.michiganhome.net
0 votes Thank Flag Link Mon Nov 7, 2011
Hello Homeowner,

You may be a candidate for a short sale, depending on how long you can wait. Our office is in the Redford/Livonia market. Give us a call if you would like to stop by our office for more information and possible solutions.
0 votes Thank Flag Link Mon Nov 7, 2011
Hi Anna,
Give me a call. You may have options you are unaware of. Suzanne O'Brien - Associate Broker - Real Estate One 313-516-6644
0 votes Thank Flag Link Mon Nov 7, 2011

You should have a Realtor do a marker analysis for you so that you know exactly where you stand. They can then advise you of the avenues available to you.

Good Luck,

Karen Paytas, GRI, CMS
Real Living Kee Realty
0 votes Thank Flag Link Sun Nov 6, 2011
Sounds like a possible short sale situation.....
0 votes Thank Flag Link Sun Nov 6, 2011
You may want to rent your home out until the market turns around. The way that most rental markets are right now you can probably get enough rent per month to cover your house payments plus some. Then once the housing market is about where you want it to be you can sell.
0 votes Thank Flag Link Sun Nov 6, 2011
Hi Anna, many of the houses I see listed that low are in very poor condition. If you owe more than the home is worth, which sounds like may be the case, you might consider doing a short sale. This involves a few more steps and may harm your credit. If you wish to look into it further, please feel free to contact me.
0 votes Thank Flag Link Sun Nov 6, 2011
Without many details, depending on your specific situation, is a short sale an option....
0 votes Thank Flag Link Sun Nov 6, 2011
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