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From the Desk of: Bill Hart & Rich Dixon

Lisa Ekanger
Tina Campbell, John Lane



• Short sale sellers are widely seen as less risky than foreclosed sellers. Fannie Mae recently adjusted their guidelines to dictate
only a two year waiting period for a short sale seller to buy another primary residence, while they extended the waiting period for
Foreclosures to five years.

• For the Seller, a short sale provides the opportunity to avoid foreclosure and the dreaded implications that a foreclosure brings, in
addition to being able to return to home ownership sooner.

• Short Sales have a far less damaging affect on a seller’s credit report. Credit scores typically lose 80 to 100 points. Without a
doubt sellers will incur more damage going through a foreclosure. Typically their score will plunge 250—300 points.

• In a foreclosure the lender can get a judgment against you for the arrearage you owe plus the costs for the foreclosure action.

• Insurance premiums for home, car, and heath can be increased or difficulty to obtain due to negative credit from a foreclosure.

• The Internal revenue deemed the difference between the mortgage balance and amount realized from the short sale to be taxable
as income. The Mortgage Forgiveness act of 2007 that went into effect January 1st, 2008, eliminates this problem.

• Only late payments on a mortgage will show and after the sale the mortgage will be reported as paid or negotiated. This will lower
the score as little as 50 points if all other payments are current. A short sale’s effect can be as brief as 12—18 months.

• A foreclosure stays on your credit history for more than 10 years.

• Current and future employment may be affected as many employers now require credit checks.

• Outside of conviction of a crime, foreclosure is the most serious issue affecting a security clearance. Those employed
by police , military, security company, CIA, or other governmental agencies, a foreclosure could
mean an immediate loss of security clearance and job position.


WOW! Yes you can get in the 4%'s on your mortgage,
As you've no doubt heard, mortgage interest rates are LOW!! As low as the they've been since
the 1950's. If your curious if you can take advantage of these once in a lifetime opportunities to
buy or refinance your current mortgage, feel free to give us a call or email us and we will be
more than happy to give get a 100% FREE mortgage review or prequalification with Great Lakes
Your Friends at Keller Williams Realty,
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Page 2

It is no secret among But consider this example. Financially, it is far easier for
professional investment Let’s turn back the clock five this couple to afford the
counselors that most individuals years and look at a young home of their dreams in the
who have accumulated wealth couple in their first home. As current market than it was 5
through their own means are their family expanded, they years ago.
contrarians. desired a larger home. They
What you have to
would have had to invest a
These people do not get understand is this. You
larger sum in order to buy up.
caught up in the emotion of may loose some equity in
Now lets fast forward to today’s
media negativity. They look your current home, but you THANK YOU!
market. That same family’s
beyond the current situation and will more than make it up,
existing home has declined in
see more opportunities plus some, on your new We wish to thank
value. Emotionally that is a bit
overlooked by others.
of a hit. our clients who
Our current Real Estate
market provides just such
But the move-up homes of have been kind
their dreams have also declined
opportunities. When home
in value.
enough to refer
values were consistently
appreciating every year, people The key point here is that business to us.
in Michigan felt great about the the difference in cash or debt
We appreciate the
market and homeowners were required to accomplish this
more than willing to sell for a move has been reduced. opportunity to
gain to buy a larger home.
provide excellent
service to your
B I R T H D AY C L U B F R E E B I E S ! family, friends,
and co-workers.
Free food on birthdays or after a certain time of day. Some you need to sign
up for on web or at the restaurant.:

• Bob Evans – 12 & under only Now Is a Great

• Texas Roadhouse - whole family can join Time to get a
• Red Robin - whole family can join Outstanding deal
• Rain Forest Café - sign up for a card and get coupons on Birthdays & on HUD &
Anniversaries and get preferred seating. Kids eat for 99 cents after 6:00pm.
• Denny’s - 12 & under only
• IHOP - Kids 12 & under eat free on Fridays.

• Lone Star - 2 kids et free when adult orders an entrée. Free sundae on birthday.

• Burger King - 12 & under only

• McDonalds - 12 & under only (must fill out card at restaurant)

Page 3

Hardship Strategies
Various Ways to Hold Title to Real Property
Short Sale: The lender agrees to
accept less than what the seller
Title is the legal documentation that bestows ownership
owes on the mortgage. Usually
of real property. The decision of how the title will be held
offered to sellers suffering financial
should not be put off until the last minute since it has a
hardship and facing foreclosure.
great impact on future tax planning, the financial future of
the borrower(s) and their respective heirs, and the choice of Upside-down sale: The seller
the lender. owes more than the house will sell
For example, most married couples would consider for. Sellers typically bring
holding title with Joint Tenancy. But if one spouse has a additional funds to the closing table,
good credit history while the other has damaged credit that
although some banks work out
may prevent funding of the loan, it would be advantageous
payment arrangements for larger
to place title in the name of the spouse with the good credit
rating. amounts.
Common ways to hold title are broken down into options Deed in lieu of foreclosure: The
that fall under the categories of sole ownership or co- homeowner gives the property
ownership. Many states permit the holding of title in a living deed back to the mortgage holder.
trust, but some lenders do not accept those terms. There Typically done to avoid foreclosure.
are ways around this, but this is where the financial planner
and the mortgage planner can make a tremendous
difference by working together.


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Page 4

Foreclosure RENTED

EASTPOINTE 3 Bedroom Ranch on WESTLAND 4 bdrm, 1.1 CHESTERFIELD: 3 bdrm, 1550 CLINTON TWP. UPDATED 3 bdrm
over 1/2 acre. Many Updates! bath1202 sqft. Fin bsmt. sqft. Brick ranch. 2 FULL baths, oak Kit, ranch. Finished Bsmt. 2.5 Car gar.
Hardwood floors. Fireplace. FUL finished basement with office and Appliances Included. Fenced Yard.
Patioshed, Privacy fence.
BASEMENT. (Collinson) surround sound. Large deck in rear.
Lease / Option (Little Mack)
MUST SEE (Rill Creek)


DETROIT 3 bdrm, 1515 sqft Clinton Twp. Completely Harrison twp Cute 2 bdrm starter. UTICA Unique 11 unit custom
investors special. Renovated in renovated. NEW EVERYTHING! Minutes from Metro beach. Large built apt complex. All units
2009 Already has tenant paying 3 bdrm, Fin bsmt. Fam rm, 150x100 lot SHORT SALE . Needs
some updating. Great investment or
leased! Great income maker!
$700 per mo. Asking only Fireplace 2.5 car garage. Asking
starter home. (Coleridge) Asking $377,500 (davis dr)
$14,900! (Cliff) $69,000 (beaconsfield)


CLINTON TWP. 1100 sqft. Co-op. Shelby twp. 3 bdrm, 2 FULL Harrison twp 3 bdrm, 2.1 bath BUTMAN TWP 3 bdrm, 3 bath
3 bdrm, 1 1/2 bath, f basement. bath. Semi Fin bsmt. Uopdated. Luxury Waterfront Condo on lake 2700 sqft. Waterfront on Lake
Private Patio. Appliances Inc. St. Clair. Boat Well, Pool, heated Lancer. Resort amenities. Spa
Hardwd floors, fireplace,
garage, tennis cts, (400 on the bath Walkout basement.
UPDATED. Co-Op (15 Mile) 64x200 lot-Move right in! (Daisy)

For PRICE, Interior Photo’s, and complete information on these homes,

FORT GRATIOT Buildable &
Splittable Lot. 15.5 Acres.
Visit: www.TeamAdvantage1.com
Water at road. Last of the big
parcels! (TICE RD.)
Page 5

DETROIT 4 bdrm, 1326 sqft, SHELBY TWP. 4 Bedroom Colonial. EAST CHINA 4 Bedroom 2 Story. WHITE LAKE 4 unit
owner updated in 2009. Great 3,300 sqft. Inground HEATED pool. 3 1/2 Bath. 8.5 car garage. apartmentcomplex. All leased.
cash flow. Tennant paying $650 Spiral Staircase. New carpet, 4,600 sqft. Finished Walk-out Great for investor Asking only
mo. Asking $14,900 (Spencer) roof, furnace. (wheaton) Basement. WATERFRONT. (River) $175,000 (Huronview)


BOSTON EDISON. 3 story 5 MT CLEMENS 2 bdrm, 1116sqft ST CLAIR SHORES 3 bdrm, 1134sqft DETROIT 3 bdrom Brick Bungalow.
bdrm, 2.1 bath Colonial. Coved Ceilings, California ranch. New landscaping. ranch. Totally updated. New roof, Owner updated in 2009 Tennant
Hardwood Flrs 2 fireplaces. Maids Beautiful neighborhood. Minutes from furnace, bath, kitchen and carpet. Quiet occupied paying $650 per mo.
Quarters. Library. Built-in Cabinetry. Mt. Clemens General Hosp. In ground dead end street great for kids Excellent cash flow! Asking only
Gas Boiler updated. 3 car gar. (Chicago) sprinklers. Huge garage (Huntington) (Worthington) $14,900(Stotter)

FERNDALE 3bdrm, 1.1 bath, DETROIT 3 bdrm, 1 bath, RICHMOND. Former Kroger. CLINTON TWP. Aggressively
1000sqft. Fin Bsmt. Fenced yard. 1 car 1350sqft. Classic features. 31,170 sqft. $1.00 per sqft for 1st priced gas station. High Traffic
garage tenant occupied paying $957. per Charming neighborhood. year + NNN. High traffic area. count. Priced to Sell!
mo. Asking only $38,000
Hardwood. Asking $14,750 Renovations in progress (main St) Asking $275,000 (Cass/Groesbeck)

WATERFORD 3 bdrm, 1444sqft.

Ranch. Immaculate! Lake
privileges on Cresent Lake. 2 car We Reserved a spot on these pages for You, a Family Member, or a Friend!
heated garage. (Pinegrove)
Page 6

FORECLOSURE & H.U.D. Properties. Complete list, 100’s to choose from!

MARINE CITY. 2 bedroom, 1,239 ALGONAC 2 Bedroom, 994 sqft DETROIT. 3 Bedroom Bungalow, MARINE CITY. 3 Bedroom, 2 FULL
sqft. Home. Basement. Home. Basement. 1 1/2 bath, 1 car garage, Basement. bath. Basement.
HUD case# 261-853562 HUD case#261-856542 Bank Foreclosure HUD case# 261-847648
Asking $40,000 (Holland) Asking $32,400 (State) Asking $29,000 (Beaverland) Asking $27,000 (William)

MARINE CITY. 4 bedroom, 1 1/2 CASCO TWP. 3 bedroom, 1 1/2 MT. CLEMENS. 4 Bedroom MARINE CITY. 2 Bedroom,
bath. Basement. 70x120 Lot. story home. 11 ACRES. 4 Bath, Basement. 2 Car Garage, 1,072 sqft.
HUD Case# 261-775569 HUD Case# 261-854427 Bank Foreclosure. Asking $9,900 HUD Case# 261-837736
Asking $30,600 (Robertson) Asking $81,000 (Meldrum) (Comet) Asking $26,400 (Scott)

MUSSEY TWP. 4 Bedroom. MEMPHIS 4 Bedroom. 2 BATH. RICHMOND 4 Bedroom. 2 Bath. MT. CLEMENS. 3 Bedroom,
1.1 bath. Basement. 3.67 ACRES! Basement. 62x229 Lot. 2 car Garage. 1,866 sqft. 1.1 Bath. Tri-Level. 1,648 sqft.
HUD Case# 261-655013 HUD Case# 261-865908 TRI-LEVEL 60x116 Lot Built in 1971
Asking $52,500 (Imlay City Rd) Asking $65,000 (Cole) HUD Case# 261-900815 HUD Case# 261-857723
Asking $83,200 (Canterbury) Asking $90,000 (Wellesley)

CAPAC 3 bedroom. 1 car garage. ST. CLAIR SHORES. 3 Bdrm. . ST. CLAIR SHORES. 2 bedroom MT. CLEMENS 3 Bedroom. 2 Bath.
Basement. 1,721 sqft. 62x180 lot. 1 Car garage. Basement. 1,037 sqft. 1.1 Bath. 1.5 car garage. 1,133 sqft. Basement. 1,102 sqft. Built 1930
HUD Case# 261-736587 HUD Case# 261-903300 HUD Case# 261-710983 HUD Case# 261-637144
Asking $31,500 (N. Main) Asking $30,000 (Bon Heur) Asking $24,000 (Euclid) Asking $14,400 (Rathbone)
Page 7

FREE Estimates 24 Hour Service

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what was the name of their coffee house This issue’s “PREFERRED” Vendor.
hangout? Outstanding service.
Outstanding Reputation!
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tab and e-mail the correct answer along with your Name, Address,
Phone Number, and E-Mail Address to be entered into a drawing
for a $25.00 Gas card.
For Sale By Owner
Make sure your Thinking of bypassing the listing
agent and selling yourself?
Roof and gutters Seller Beware! For the less than 10%

are Ready for Bad of those who do sell their home,

they almost always accept not only a
Weather. lower price, but net less than if they
sold it with a professional realtor!

*1/2 cup white flour *1/2 cup Brown Sugar
1/3 cup softened butter
Combine flour, butter, and sugar; pat in ungreased 8” pan. Bake at If you know ANYONE thinking of buying or
350 degrees for 8-10 minutes. Remove and cool. selling Real Estate, REFER them to us
FILLING: and we will send you a $100.00 Gift card
2 - 8oz pkgs. Cream Cheese, Softened. 1/2 cup sugar to Meijer or Kroger on every CLOSED sale
2 large eggs 4 tablespoons milk or cream
2 tablespoons lemon juice 1 teaspoon vanilla
Our business is built on
referrals from people like
Using an electric mixer, combine ingredients until smooth.
Spread over partially baked crust. Bake for 30-35 minutes you! (586) 421-1595
more at 350 degrees. Decorate with your own special
Recipe courtesy of Gooseberry Patch.
HART - DIXON- Standard
US Postage
New Baltimore
Permit # 39
31525 23 Mile Rd.
Chesterfield Mi.

(586) 421-1595
E-mail: KellerWilliams13@gmail.com


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