Areas of Practice
Experienced Attorneys Helping Clients Avoid Foreclosure
Meeting Southeast Michigan Clients Real Estate Needs Since 1974
If you owe more on your mortgage than the value of the property, your first instinct might be to consider walking away. This is understandable if you are struggling to make your monthly payments and know that you could still owe money on the mortgage even if you sell your home.
Since 1974, the law firm Melder & Melder, P.C. has been helping clients with a wide variety of real estate issues. We recognize the emotional and financial drain of being upside-down in your mortgage. We also understand the negative consequences associated with foreclosures. Our attorneys encourage clients to take control by considering a short sale.
Helping Homeowners Avoid Foreclosure
Our real estate lawyers — Sanford J. Melder and Aric K. Melder — offer a proactive approach to help clients avoid foreclosures. We tailor our approach around each clients' unique needs through gaining a clear understanding of their specific circumstances so we can recommend a course of action that will meet their individual goals.
When a client is considering a short sale, we explain the benefits in plain English. They include:
Gaining control of your future
Minimizing negative affects to your credit
Improving your chances the bank will work with you
Supporting the future of your neighborhood
Lenders report short sales differently to credit reporting agencies than foreclosures, and the negative consequence is much less severe than with a foreclosure. In some circumstances, lenders to not report short sales to credit bureaus at all.
When a short sale is reported to the credit bureaus, homeowners typically qualify for a new mortgage after a shorter time than they would with a foreclosure on their credit history.
Call for a free initial phone consultation with an attorney.
If you are looking for a way to avoid foreclosure, Melder & Melder, P.C. can help you decide if a short sale is the best option for you, as well as the best time to consider one. Call our Royal Oak law office or contact us online to schedule a free initial phone consultation.