Behind on Mortgage Payments - Michigan Short Sale Experts - http://michiganshortsalehelp.org/

Ryan Overmyer is Michigan's #1 Short Sale Expert. He completes more Short Sales than any other individual Realtor in the area. In this Frequently Asked Questions format Video Blog -- Ryan answers all of your Short Sale related questions.

Today's video is an absolute must watch for any homeowners who are currently behind on mortgage payments. Also, Ryan will share the the most staggering statistic he's ever heard in his nearly 7 years completing Short Sales. This is one Short Sale update you won't want to miss.

If you own a home in the State of Michigan, have fallen behind on your mortgage payments and have no further interest in keeping your home -- a Short Sale is the best option for you.

Many homeowners assume that if they've fallen behind on mortgage payments they can probably just let their homes be foreclosed on with little or no consequence. This couldn't be further from the truth. The mortgage(s) and lien holders involved don't just disappear once foreclosure occurs.

In most cases, the lien holders still have the right to sue, garnish wages, levy bank accounts and pursue the borrower for the balance due. Some lien holders are more aggressive than others -- but all leverage the right to collect.

A Short Sale can extinguish all existing responsibilities that you have with your current lien holders.

Here's an easy way to think about it: If we let your home be foreclosed on -- we're running away from a problem that will never go away. In the Short Sale scenario -- we're running toward the problem by offering your bank a fair market value settlement.

As Michigan's #1 Short Sale Realtor -- I'm often granted access to bank executives and am lucky enough to have conversations with these individuals at the senior level. During a recent conversation with a Wells Fargo executive, he stated, "We don't want these loans to be foreclosed on. We'd much rather help these homeowners through the Short Sale process -- in fact, Wells Fargo is currently approving about 97% of the Short Sales transactions that enter our system." Additionally stating, "On primary loans, most of our investors are not interested in pursuing a deficiency after close -- there's too much reputational risk involved." Point being -- once the Short Sale is complete -- you're done.

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