Working Hard For YOU!

What Is A Pre-Foreclosure, and How Can You Benefit From It?


You’re probably asking yourself “what is a pre-foreclosure”? 

A pre-foreclosure is the period after your home has been sold at  sheriff’s sale auction, and before you’re redemption rights,  (usually 6 months in MI) have expired.
 

During that time you still can sell your home and possibly benefit from the sale. Here's How
 

Here’s an example of a property that has just been sold at sheriff’s sale

Property  sold at sheriff’s sale for                     $100,000

Property is worth on the open market               $125,000

Homeowner owes original loan on property     $200,000

Within the 6 month redemption period you list your home with us, The Whisler Team, and we sell your
home for $125,000. 

At the closing the deed holder (whomever bought the deed at  sheriff’s sale) is paid in full $100,000  and closing costs are  approximately $10,000, which leaves $15,000 in your pocket!!
 

Please keep in mind that your original loan amount to the  lender will not be discharged or settled. 
The bank can, and will still come after you to get the loan satisfied unless you contact them and
negotiate a settlement. 


 WE CAN EVALUATE YOUR HOME FOR FREE TO SEE IF SELLING
FOR A PROFIT IS AN OPTION FOR YOU!

CALL FOR A FREE HOME ANALYSIS

Andy (248) 535-8264         Colleen (248) 535-7980

 

***    SATISFYING THE LOAN  TO THE BANK (LENDER) IS STRICTLY YOU’RE REPSONSIBLILITY!

***   IF THE BANK WAS THE ONE THAT PURCHASED THE DEED AT AUCTION - 
       SHERIFF’S  SALE—THEN YOU MAY  HAVE A CHANCE OF SATIFYING THE ORIGINAL LOAN
       AMOUNT WITH A PAYOFF AMOUNT OR NEGOTIATION WITH THE BANK 

       ***  WE ALWAYS RECOMMEND  CONSULTING WITH AN ATTORNEY  REGARINDG 
             OUTSTANDING LOAN BALANCES