Our certified counselors will analyze your situation and set up a plan to help avoid foreclosure. They will provide a free consultation and foreclosure advice. Their high success rate in helping homeowners avoid foreclosure gives them leverage with mortgage companies. They are familiar with foreclosure laws and can often stop foreclosures quickly. Contact them today for a free consultation to discuss options like loan modifications, short sales, or forbearance agreements that may prevent foreclosure.

1. Call 1-866-931-4202 For a FREE
Foreclosure Prevention Consul-
tation:
Short Sale
Our certified loss mitigation counselors will ana-
An Alternative to Foreclosure
lyze your situation and set up a plan to help you THE BAD NEWS: We can Help!
avoid foreclosure. You’ll get advice and a free
foreclosure consultation. Our success rate in help-
ing homeowners avoid foreclosure gives us per- • Michigan home foreclosure rates are Homeownership Hotline:
suasive leverage with mortgage companies. We among the highest in the nation
know the laws pertaining to foreclosures and re-
possessions. In the vast majority of cases, we are • Experts have suggested foreclosure filings 1- 866-931-4202
able to stop foreclosures quickly. in Michigan could double in 2008
Contact Us Today For A FREE, Confidential
Its never too late for help, so don't delay • The year to date foreclosure fillings for Home Ownership Consultation or visit
—act today! Michigan have reached over 117,122 us on the web at www.mainstreetcapital.org
• More than 1.2 million American homes
are now in foreclosure
• A significant portion of the increase in
foreclosure filings will likely come from
Will a Short Sale Improve My Credit: the approximately 212,000 subprime
mortgages in Michigan
A short sale is notated
on your credit report as
a Short Payoff. This
indicates to lenders that THE GOOD NEWS:
you took action and • We have helped many distressed
attempted to pay off the homeowners prevent foreclosure. During
loan. You were your FREE Home Ownership Consulta-
responsible, listed tion, we will discuss your options to Stop
your house for sale and Foreclosure and answer any questions
were accountable for you may have.
your debt obligation.
You will be rewarded • We are a community based affordable
for this over a foreclosure. housing agency dedicated to preserving
home-ownership.
A “foreclosure” mark on your credit report puts
you in a high risk category because a
“foreclosure” describes you as someone who did-
n’t take any action or responsibility to repair or
address the Notice of Default. Chances are, fu-
ture creditors will think you have a high risk of
“walking out” on your loans again.

2. 3 Stages of Foreclosure
Building Tomorrows Future,Street
Thanks to Main Today
Capital I was able to buy
#1 Pre-Foreclosure home, they pro-
my own
vided the down payment
• Short Sale – best option for seller
money, and a low interest
• Deed in Lieu -
mortgage, they got me a
• Loan Modification -
deal on a house that I
• Forbearance agreement –
could not have possibly
#2 Foreclosure on my own. Thank
done
you very much.
• Lender bids to gain control
• Sheriff Deed
• Most Liens are extinguished
• Owners right of redemption
Call 1-866-931-4202 for foreclosure
#3 Post Foreclosure
prevention counseling:
• Continued Holding Costs
• Hire A Real Estate Broker (REO’s)
SHORTSALE VS FORECLOSURE
Short Sale: Why Do Lenders Accept Short Sales :
An Alternative to Foreclosure Common reasons lenders agree to a short sale: SHORT SALE FORECLOSURE
A short sale occurs when a property is sold at a • New housing bill provides tremendous financial in-
loss because the mortgage lender agrees centives to lenders who approve short sales to dis- • Negotiated Settle- • Court Settlement
tressed home owners. ment • Sellers credit ruined
to accept an offer that is less than what is owed
• Sellers Credit Bruised • Big Attorney Fee
on the property. Once the lender receives the • The homeowner’s financial position has changed and
• No Attorney Fees • No Peace of Mind
agreed amount, they will release the lien on the they cannot afford the property. • Seller Peace of mind • Buy in 7-10 yrs
property. A short sale is typically viewed more • The mortgage is past due. • Buy again in 2 yrs • All Liens Extin-
positive than a foreclosure on a credit report and • New construction in a particular area has hurt the • Liens are negotiated guished
allows the seller to regain homeownership in the value of existing homes. • Minimize credit dam- • Risk of lawsuits
• The local real estate market has depreciated in value. age • Risk wage garnish-
future. Not all lenders will accept short sales and
• Avoid public foreclo- ments
the terms of which they will accept them may vary • They want to avoid the cost and time required to
sure
from lender to lender. Before agreeing to a short foreclose.
sale, the seller should understand the terms of the • The condition of the property has deteriorated. Its never too late for help, so don't delay
lender. • Reduces non-performing asset inventory —act today!