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Short Sales Explained A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved. But to be technical, here's a more official definition: A homeowner is 'short' when the amount owed on his/her property is higher than current market value. A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage. For homeowners to qualify for a short sale, they must fall into any or all of the following circumstances: Financial Hardship – There is a situation causing you to have trouble affording your mortgage. Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage. Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage. This seems simple enough, but it is a complicated process that takes the expertise of experienced professionals. I hold the CDPE® Designation and am ready to identify all possible options and, when possible, assist in the quick execution of a short sale transaction. If you have questions or feel you may qualify for a short sale, please contact me for a free consultation. Understanding your options now could mean all the difference in the world. Call Carol Baker Today 313-320-7956










CAROL BAKER OF CENTURY21DYNAMIC has earned the prestigious Certified Distress Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distresses homes in the foreclosure process.
SHORT SALES allow the cash-strapped seller to repay the mortgage at the price that the homes sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.
Local experts say even high-priced homes are not immune.
“This CDPE designation has been invaluable as I work with sellers and buyers on complicated short sales,” says Baker. It is so rewarding to be able to help sellers save their homes from Foreclosure.
Alex Charfin, founder of CDPE said that Realtors such as BAKER can offer the homeowner much better alternatives to foreclosure. These realtors better understand market conditions and can help the Sellers through the emotional experience.
“Our Goal is to assist as many homeowners as possible”
For more information contact Carol Baker of Century21Dynamic Realty
@ Her direct line 313-320-7956, or email
Century 21 Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each CENTURY 21 Office is Independently Owned and Operated.

IMPORTANT GOVERNMENT DISCLOSURE: You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender (or servicer). If you reject the offer, you will not have to pay us for our services. The above brokerage is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.



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' As a first time home buyer, I often found myself clueless... Thankfully, Carol Baker's breadth of knowledge was a buoy of hope, as I tried to keep my ... more '
by hejkam
' Carol helped our son (the property owner) and us as his legal representative with onsite responsibility, through a difficult and complicated shortsale ... more '
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