Homeowners and investors need to know that it is getting more difficult for a third party to intervene on their behalf to stop foreclosure or to attempt to do a short sale to lessen one's financial loss.  If you call a lender today such as Ocwen, you will get a message that says that Ocwen will no longer talk to a real estate agenst or investors regarding short sales.  For one, the servicing companies and lenders just do not have the man power to talk to one about "would you take X amount." However, lenders or the investors behind the mortgages will consider faxed/mailed short sale packages, but they want to see a buy/sell agreement with an "honest" offer.  Secondly, the lenders and private investors are also being pro-active and see that they too can make money, by working with a real-estate company selling these properties after the redemption period.   They'll make money on the sale and by insisting that they hold the new note formed by the new owner.   Offers made may not always initially be accepted or binding too.  The lender will hold-out to see if they can get a better offer. 

   The State of Michigan (Governor) is also trying her best to minimize the number of foreclosures by devising plans that will allow bankruptcy judges to set new rates and terms for people facing foreclosure and developing new FHA programs for homeowners who are struggling to make their mortgage payments due to adjustable rate mortgages.   In the long run though these fixes may be temporary in nature or just a delay in raising of the rate.  Lenders do not want to lose their money from the promised mortgage note regardless of whether or not their programs were predatory in nature, and they usually have the final say as to whether or not they will accept any change to the agreement.   All in all, if you are facing foreclosure, the lender wants to talk solely to the homeowner to squeeze out all nickles and dimes.   Lenders are also getting more aggressive and sending their "hungry" real estate agents out to knock on homeowner's doors who are a month delinquent or more to call their lender.  If you are an investor with a rental property be sure your payments are current, or your renter will be spooked.   Once the renter knows that their home is in foreclosure, they stop paying.  As a consequence, the lenders, in effect, are creating more foreclosures since it takes time to remove nonpaying or slow paying renters.   All in all, times are tough.  Best advice for those who are behind is to talk to your lender as soon as you get behind and explain your situation to see if the lender or servicing company can work with you.

     If you have any further questions, please contact Foreclosure Prevention Institute, LLC.  We can answer your "Biggest" question regarding foreclosures.  Our website is http://www.foreclosureinfo.bravehost.com and our toll free number is 1 800 826-1929 or 616 604-6642.  Ask for Janet or Dave.  We also help people with refinancing or purchasing of residential and commercial properties in the State of Michigan.  If you need to generate additional income online, check-out http://www.buildingtrafficonline.com.   We are specialists in foreclousre, loan originating, real-estate transactions, commercial construction, and residential/commercial appraisals.