Foreclosures and short sales are creating over 50% of the total number of sales.  Any that was the number last month nationally.  Some area are a little more and others a little less.

So what if you have lost your job...or became ill and can not make the mortgage payments.  What happens?  The first thing to do is call your lender.  The second thing to do is look at your budget and funds you are going to need and anticipate for how long.  If it looks like a long term problem then you need to take action.
                                                                                                                                                       
Action, in the form of selling or renting depending on your situation.  One of many issues that people face is the embarrassment of going through a foreclosure.  It is no time to worry about what your friends or neighbors will think.  It is time for survival, protecting your credit for you and your family.

Don't give up and don't walk away from you home.  If you attend a sellers workshop you may be able to sell your home yourself.  If you use that avenue of a short sale...meaning you can still may your payments for a while...put your home on the market for sale.  Talk to your lender and tell them your situation.  They will tell you the documents they need...If not I know a company that specializes in short sales and can help you.

Yes they are a real estate company but who else would specializes in short sales, besides the Sheriff?  The reason I like this company...they do not charge you anything.  I didn't say they don't get paid.  They do the negotiations with your lender for you.  They guide you through the paperwork process.  You may not walk away with a dime from the sale of your home but that is better than having your credit ruined and owing the bank money after they sell the home!  In most cases you will not owe the bank anything and you will have saved your credit enough to be able to purchase a home with 2-3 years.  Here is the link: http://www.flexitrealty.com/Short_Sales/page_2033675.html 

This company also does foreclosures and is an authorized HUD broker so they handle both buyers and sellers.  Buyers, like the sellers do not have to pay for the companies or agents services.  They handle the paperwork, they do the negotiations and they recommend different resources you can choose from for inspection companies, lenders and much more.

So don't walk away from your home no matter how disparate you are or how bad the situation looks.  Remember the key is action....act early to save your credit and get qualified help to assist you in saving your credit.

If you are a buyer, don't make bid after bid and think you are saving money by not having representation.  Quite the opposite is true in most cases.  Remember anyone representing the property represents the seller whether it is the bank or a seller.  The only way a Realtor can help you in Michigan is, if they are the listing and/or selling agent of record for the listing, they must have a "Dual Agency" agreement signed by both the seller and by you.  If you have not seen this document and it has not been mentioned the agent is representing the seller!  Not you...so no matter how nice they seem they are working on the sellers behalf.

If you live in Michigan and need help....without pressure, hit this link and drop them an email they will call you and set up a personal time to meet with you either by phone or in person.  I like them because you can count on them to be fair and honest....a rare thing these days!  Here is the link for the email.... FlexitRealty@comcast.net    

Stop back again for more specifics on Foreclosure help.   Hope this helps, ask your questions I will always find the answer if I don't know it.