Ray's Blog

PMI mysteriously appears day before closing!

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Wed, 14 Oct 2009 21:49:02 -0500

We received an approval of short sale on Sept 3, 2009. No mention of PMI. Now we are closing tomorrow and upon review by negotiator, suddenly PMI is noticed and sent the information. They come back requesting $25,000 promissary note payable at 0% int for 7 years at about 296 per month.

We were to close tomorrow!! Buyer has movers planned, Seller has taken day off work, and Wham! We are hit with this killer info that totally blows us out of the water! Unbelievable!

Did the Negotiator miss it? Whoever is responsible, does not matter. Probably will not close and Seller will not pay a dime to PMI. CMG is PMI company. I realize we can surely negotiate down, but Seller will not pay a dime at this point. She says "let if forelose"!!! I am done!

Buyer has given notice to Landlord, and have movers coming in two days!

I have emailed all my "resources" for training and loss mitigation contacts for help. Hoping for a miracle by tomorrow morning.

Any suggestions???

Lender is CitiMortgage
PMI Compnay: CMG

Help for Buyer of waterfront property that has lost frontage due to Damn water release...

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Sat, 26 Sep 2009 22:48:11 -0500

Help for Buyer of waterfront property that has lost frontage due to Damn water release...

Situation: Buyer purchased lakefront property on land contract with 121' frontage. They have been making payments for 3 years. This spring water was release from a Damn to help protect "cricket Frogs" in the area. Now the land has only 74' of frontage and Buyer can no longer build the home they had planned to build. Furthermore, current setback rules will only leave about 14' of buildable area, thus it may not be possible to build at all!

Questions:
1. What options are available to buyer? They already have about $100k invested in property. They do not want to walk away, but may not have a choice..
2. If they decide to keep property, can they renegotiate land contract terms?
3. Seller has existing mortgage. What are chances of short sale with 1st mortgage?
4. If determined unbuildable, can Buyer Sue the Seller for non-disclosure, and have investment refunded?
5. Any other ideas?

I feel Buyer should get new appraisal if interested in keeping property and offer to amend land contract to current market value pricing. Will likely be 50% of original purchase price.

Any comments appreciated...

Lease Options a viable option when Lenders are tight

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Sun, 28 Jun 2009 21:30:25 -0500

I have just spent 3 days in a real estate workshop learing how lease options can be a welcome option to good people who just can't get a mortgage right now due to excessive Lender guidlines.

If you have to rent, why not get something back? For a modest option fee a Buyer/Tenant can control the property while they make the necessary corrections to their credit or take the time necessary to satisfy the Lender enough to approve the mortgage. Then they can "refinance" the home when the time is right.

Of course everything is negotiable, so work out a deal with the Seller that is a win-win for all parties involved. Feel free to contact me with questions or help in gettting a deal that works for you.

Ray Spitler
www.MBShomes.com
(989)607-6252
Keller Williams Realty

Lowered Price on this Wonderful Sanford Lake Home near Saginaw

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Mon, 08 Jun 2009 08:59:50 -0500

Price Drop on this Country Home near Saginaw

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Fri, 05 Jun 2009 08:34:19 -0500

Ray Spitler | Keller Williams Realty | (989)737-8042

5864 McGrandy, Bridgeport, MI

Charming home situated on a large fenced country lot.

3BR/1BA Single Family House

offered at $79,900

Year Built	1960
Sq Footage	1,368
Bedrooms	3
Bathrooms	1 full, 0 partial
Floors	1
Parking	1 Covered spaces
Lot Size	.35 acres
HOA/Maint	$0 per month

DESCRIPTION

A charming home situated on a large fenced country lot just down the road from Frankenmuth! 13 x 14 Heated Florida Room, Central Air, Open floor plan, extra large family room with a wood-burning stove, new flooring, updated kitchen with oak cabinets. Hardwood floors under carpet. New roof in 04, newer sump pump and water heater, 12 x 16 shed, and carport could easily be converted to garage. Huge covered porch in back to enjoy the country privacy. Great price for this home and location!

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Family room
Living room	Dining room	Dishwasher
Laundry area - inside	Balcony, Deck, or Patio	Yard

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Ray Spitler

Keller Williams Realty

(989)737-8042

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 5, 2009, 5:29am PDT

Tucked Away in the Woods near Saginaw, MI

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Wed, 03 Jun 2009 07:59:12 -0500

Short Sale--Only $15,000 in Saginaw!

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Wed, 03 Jun 2009 07:35:36 -0500

New Price on this Large 4 Bedroom in Freeland, MI

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Fri, 22 May 2009 23:05:29 -0500

Ray Spitler | Keller Williams Realty | (989)737-8042

8431 Goldfinch, Freeland, MI

NEW PRICE and Quality upgrades throughout make this spacious home
better than new!

4BR/2.5BA Single Family House

offered at $225,000

Year Built	2003
Sq Footage	2,341
Bedrooms	4
Bathrooms	2 full, 1 partial
Floors	2
Parking	Unspecified
Lot Size	.21 acres
HOA/Maint	$0 per month

DESCRIPTION

Convenient Falconcrest Subdivision is close to schools. Open 2-story great room with corner fireplace. Large open kitchen with granite countertops, pantry, breakfast bar, eating area and hardwood flooring. Formal dining room or den, main floor master suite with generous walk-in closet and jet tub. Main floor laundry, Large family room and workshop area in finished lower level with egress window, sprinkler system, custom exterior lighting, finished garage with epoxy sealed floor, brick patio and no neighbors in back. Well maintained and move-in condition!

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Hardwood floor
Tile floor	Family room	Living room
Bonus/Rec room	Dining room	Breakfast nook
Dishwasher	Microwave	Granite countertop
Basement	Laundry area - inside	Balcony, Deck, or Patio
Yard	Jacuzzi/Whirlpool

ADDITIONAL PHOTOS

8431 Goldfinch	Kitchen
Open 2-story Great Room	Main Floor Master Suite
Granite Breakfast Bar	Master Bath

Contact info:

Ray Spitler

Keller Williams Realty

(989)737-8042

For sale by agent/broker

Equal Opportunity Housing

Posted: May 22, 2009, 7:48pm PDT

Price Drop on this Charming Cottage in Saginaw! Short Sale!

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Fri, 15 May 2009 15:50:53 -0500

Reduced Price on this home with 4 acres in Midland, MI!

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Tue, 12 May 2009 23:01:39 -0500

Ray Spitler | Keller Williams Realty | (989)737-8042

1957 Nature Ln, Saginaw, MI

Just Reduced! Nature Lover's Dream!

3BR/1.5BA Single Family House

offered at $109,900

Year Built	1996
Sq Footage	2,048
Bedrooms	3
Bathrooms	1 full, 1 partial
Floors	2
Parking	Unspecified
Lot Size	4 acres
HOA/Maint	$0 per month

DESCRIPTION

Attention Nature lovers & hunters! Want privacy? This is NOT A DRIVE BY! You must see inside this unique home that is tucked away in the trees and secluded on 4+ heavily wooded acres. When the leaves are full, it will be completely hidden from the road. 32x32 pole barn is attached to the home. Generous sized rooms, 2nd level deck, patio, first floor laundry, radiant heat on first level, maintenance free! Priced to sell quickly.

see additional photos below

PROPERTY FEATURES

Family room	Living room	Dishwasher
Refrigerator	Stove/Oven	Laundry area - inside
Balcony, Deck, or Patio	Yard

OTHER SPECIAL FEATURES

Thickly Wooded

ADDITIONAL PHOTOS

Nature Lover's Dream	Living Room
Kitchen	Bedroom
Garage	Privacy

Contact info:

Ray Spitler

Keller Williams Realty

(989)737-8042

For sale by agent/broker

Equal Opportunity Housing

Posted: May 12, 2009, 7:45pm PDT

Country Living with the Convenience of Saginaw, MI!

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Mon, 11 May 2009 19:03:05 -0500

Ray Spitler | Keller Williams Realty | (989)737-8042

7792 Dutch, Saginaw, MI

Almost 3 acres of country living with city convenience!

5BR/3.5BA Single Family House

offered at $259,900

Year Built	1993
Sq Footage	2,476
Bedrooms	5
Bathrooms	3 full, 1 partial
Floors	2
Parking	Unspecified
Lot Size	2.7 acres
HOA/Maint	$0 per month

DESCRIPTION

OPEN HOUSE MAY 24, 2:00-4:00PM
Almost 3 acres of country living with city convenience! Enjoy the peacefulness of the country, yet only 1 mile from everything you need. Close to Hemlock Semiconductor and Swan Valley Schools. This quality built 2-story by Ciaramitaro Builders offers everything you need. Two Master Suites with lots of closet space and private baths, one Jacuzzi. Dramatic 2-story foyer and Great Room. Formal Dining, First-floor laundry, Solid Oak 6-panel doors throughout. Finished Basement with 5th bedroom, family room, and separate storage rooms. One room is plumbed for bath. Large finished garage plus 24x40 Pole Barn provides room for all your toys!

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Hardwood floor	Living room
Bonus/Rec room	Dining room	Dishwasher
Refrigerator	Stove/Oven	Microwave
Basement	Laundry area - inside	Balcony, Deck, or Patio
Yard

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Ray Spitler

Keller Williams Realty

(989)737-8042

For sale by agent/broker

Equal Opportunity Housing

Posted: May 11, 2009, 3:39pm PDT

Luxury Living--5 Bedrooms in Saginaw

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Mon, 04 May 2009 09:16:54 -0500

Ray Spitler | Keller Williams Realty | (989)737-8042

4414 Brookstone, Saginaw, MI

A luxury lifestyle awaits you in one of Saginaw's most prestigious
neighborhoods.

5BR/4.5BA Single Family House

offered at $389,500

Year Built	2002
Sq Footage	2,590
Bedrooms	5
Bathrooms	4 full, 1 partial
Floors	1
Parking	Unspecified
Lot Size	1 acres
HOA/Maint	$0 per month

DESCRIPTION

A luxury lifestyle awaits you in one of Saginaw's most prestigious neighborhoods. Breathtaking kitchen with Granite counters and full granite backsplash. Convenient breakfast nook plus formal dining. Great room with fireplace. Generous Master Suite and Master bath with Jacuzzi and huge walk-in closet ! Jack & Jill bath for the kids (or guest) wing. Custom tempered windows with designer treatments. The beautifully finished lower level would make an excellent in-law/guest suite plus family room & rec room for 4170 sq ft of total living space. Call for your tour to see the rest of the finer details. You will love it!

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Family room	Living room
Bonus/Rec room	Dining room	Breakfast nook
Dishwasher	Refrigerator	Stove/Oven
Microwave	Granite countertop	Basement
Laundry area - inside	Yard	Jacuzzi/Whirlpool

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Ray Spitler

Keller Williams Realty

(989)737-8042

For sale by agent/broker

Equal Opportunity Housing

Posted: May 4, 2009, 6:04am PDT

Short Sale transaction in Georgia

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Tue, 24 Mar 2009 11:02:32 -0500

I have a Client who owns a rental home in Georgia and wants to sell on Short Sale. Tenant may want to purchase. Since I am in Michigan I may needs someone to help with transaction. Anyone interested?

WANTED- Investors with CASH for quick short sale deals..

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Mon, 23 Mar 2009 22:53:45 -0500

I specialize in short sales and will be expanding my business to include pre-approved by the bank
"ready to close" short sale deals below market value.

These deals will already be approved by the bank for short sale at a specified price for 60 -70 cents on the dollar "ARV".

I will be offering these deals to cash investors for a quick sale.

If you are interested in being notified of these special short sale deals first, just send an email to cashinvestors@MBShomes.com and I will add you to my VIP list for priority instant notification.

Include best way to contact you and price range you are intersted in as well as any other prefered criteria.

You can search the MLS for Saginaw, Midland or Bay County Michigan at www.MBShomes.com to see all current listings from any Broker and compare prices to the deals I will be offering.

We have about a 2-3 year window to pick up the best real estate deals in history. In addition, we will be helping many homeowners avoid having a foreclosure on their credit and the bank gets rid of a non-performing asset. Everyone wins!

Did you know that most Millionaire's achieved their status through real estate? Now the country is "on sale". As Realtors and Investors, we are probalby in the most influential positions to be the catalist for change and help bring America out of the recession one house at a time.

Contact me anytime.

Ray Spitler
Certified Short Sale Expert, GRI, e-Pro
Keller Williams Realty
www.MBShomes.com
(989)607-6252

Charming Cottage- Short Sale!!

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Sat, 14 Mar 2009 10:25:05 -0500

Ray Spitler | Keller Williams Realty | (989)737-8042

1603 Avalon, Saginaw, MI

Charming Cottage--Short Sale!!

3BR/2.5BA Single Family House

offered at $109,900

Year Built	1940
Sq Footage	1,493
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	12,719 sqft
HOA/Maint	$0 per month

DESCRIPTION

SHORT SALE- This charming Cottage Style Cape Cod is loaded with character! Popular Lathrup Park sub is close to everything! Beautiful landscaping with lots of perienials, Beatie inground pool, garden shed and fenced yard. Finished Lower Level with full bath. Newer high efficiency furnace, roof & water heater. Priced for immediate sale.

see additional photos below

PROPERTY FEATURES

Fireplace

Balcony, Deck, or Patio

Swimming pool

OTHER SPECIAL FEATURES

Fenced with a garden shed and beautiful landscaping!!

ADDITIONAL PHOTOS

In full bloom!	Charming even in Winter!
Like a Storybook Cottage!	Poolside garden and gate.
Beautiful Inground Pool!

Contact info:

Ray Spitler

Keller Williams Realty

(989)737-8042

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 14, 2009, 7:54am PDT

Short Sale-Nice Duplex Must sell now!!!

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Wed, 11 Mar 2009 22:04:37 -0500

Ray Spitler | Keller Williams Realty | (989)737-8042

3161 Northwest, Saginaw, MI

Nice duplex in prime Saginaw township location close to everything

4BR/2BA Single Family House

offered at $100,000

Year Built	1969
Sq Footage	1,476
Bedrooms	4
Bathrooms	2 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	24,742 sqft
HOA/Maint	$0 per month

DESCRIPTION

SHORT SALE- Nice duplex in prime Saginaw township location close to everything. Extra 3-1/2 car garage, deep lot with fenced back yard, shed and privacy fence. Many updates, owner occupied. Separate utilities paid by Tenants. Subject to third party approval.

see additional photos below

PROPERTY FEATURES

Refrigerator	Stove/Oven	Washer
Dryer

COMMUNITY FEATURES

Wheelchair access

OTHER SPECIAL FEATURES

Extra Garage/workshop

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4

Contact info:

Ray Spitler

Keller Williams Realty

(989)737-8042

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 11, 2009, 7:20pm PDT

Price Reduced on this Cozy 3 Bdrm

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Mon, 02 Mar 2009 21:57:34 -0600

Ray Spitler | Keller Williams Realty | (989)737-8042

411 S. Jackson, Saginaw, MI

Price Reduced on this Short Sale in Bay City

3BR/1.5BA Single Family House

offered at $39,900

Year Built	1910
Sq Footage	838
Bedrooms	3
Bathrooms	1 full, 1 partial
Floors	2
Parking	1 Car garage
Lot Size	.09 acres
HOA/Maint	$0 per month

DESCRIPTION

Short Sale- Many updates, new drywall, newer windows, vinyl siding, front porch & bath. Updated eat-in kitchen, fenced yard, 2 pc bath in usable basement. Previously sold in 2002 for $72,900. Taxes shown are non-homestead. Priced for quick sale. Contact Agent for Addenda prior to submitting offers, pre-approval letter required w/offer.

see additional photos below

PROPERTY FEATURES

Central heat

Living room

ADDITIONAL PHOTOS

Front in Winter	Kitchen
Living Room	Front in Summer

Contact info:

Ray Spitler

Keller Williams Realty

(989)737-8042

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 2, 2009, 7:09pm PST

Open House--Fine Lakefront Living!

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Mon, 02 Mar 2009 09:47:53 -0600

Ray Spitler | Keller Williams Realty | (989)737-8042

3212 N Lakeside, Sanford, MI

OPEN HOUSE, SUNDAY MAR 15, 2:00 - 4:00PM Experience FINE LAKEFRONT LIVING

3BR/2.5BA Single Family House

offered at $350,000

Year Built	1970
Sq Footage	2,664
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	2
Parking	3 Car garage
Lot Size	11,250 sqft
HOA/Maint	$0 per month

DESCRIPTION

OPEN HOUSE, SUNDAY MAR 15, 2:00 - 4:00PM
Experience FINE LAKEFRONT LIVING. Completely updated, stunning lake views from every room. Lots of natural lighting floods this home, with 2-story window and skylights. Open “airy” floorplan maximizes on views of water and light. Updated kitchen is open to the family room and gorgeous cut-stone fireplace. Very nice Master Suite with his & hers vanities, tile shower and walk-out to deck overlooking the lake, private yard, and gardens. Fresh & Neutral Decor. Screened Porch. The 3rd car addition to garage is heated & air conditioned. Plenty of "elbow room" is added bonus! Nothing to do but move in. Call today for your private tour.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Family room	Living room
Office/Den	Dining room	Dishwasher
Refrigerator	Stove/Oven	Microwave
Basement	Washer	Dryer
Laundry area - inside	Balcony, Deck, or Patio	Yard

COMMUNITY FEATURES

Lake

ADDITIONAL PHOTOS

View of House from Lake	Front of House
Sunrise View!	Lot's of Light
Updated Kitchen	Master Bedroom Suite

Contact info:

Ray Spitler

Keller Williams Realty

(989)737-8042

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 2, 2009, 7:30am PST

Spacious Country Home--Bargain Priced--Bay City

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Mon, 02 Mar 2009 08:22:02 -0600

Ray Spitler | Keller Williams Realty | (989)737-8042

3815 Monitor, Bay City, MI

Spacious Country Home--Bargain Priced!

5BR/2BA Single Family House

offered at $139,900

Year Built	1900
Sq Footage	2,400
Bedrooms	5
Bathrooms	2 full, 0 partial
Floors	2
Parking	4+ Car garage
Lot Size	.80 acres
HOA/Maint	$0 per month

DESCRIPTION

Spacious Country Home, Handicap ramp to Mother-in-law suite, custom oak cabinets, Large open living area, sun room, 24x54 heated Pole Bldg, Professional landscaped garden yard, large deck. Bargain priced. All terms & conditions subject to 3rd party approval, must sell!

see additional photos below

PROPERTY FEATURES

Central heat	Family room	Living room
Basement	Laundry area - inside	Balcony, Deck, or Patio
Yard

OTHER SPECIAL FEATURES

Handicap Ramp to Mother-in-Law Suite

24x54 Heated Pole Bldg with Garage Door Opener

ADDITIONAL PHOTOS

3815 Monitor	Handicap Ramp
Deck	Large Yard
24x54 Heated Pole Bldg	24x54 heated Pole Bldg

Contact info:

Ray Spitler

Keller Williams Realty

(989)737-8042

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 2, 2009, 6:07am PST

Reduced Price on this Short Sale in Saginaw

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Thu, 26 Feb 2009 22:33:37 -0600

Ray Spitler, GRI, e-Pro | Keller Williams Realty | (989)737-8042

1295 Wilson, Saginaw, MI

Price Reduced on this Short Sale in Lathrup Park!

3BR/2.5BA Single Family House

offered at $69,900

Year Built	1955
Sq Footage	1,164
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	1
Parking	Unspecified
Lot Size	30,579 sqft
HOA/Maint	$0 per month

DESCRIPTION

Price Reduced on this SHORT SALE in Lathrup Park. On wooded lot, nice neighborhood, close to everything! Master bath, Finished Basement, Enclosed Porch, Family Room w/Fireplace & 3pc bath in lower level, 20x10-3 Season Room. Many updates including: Roof, Lennox Furnace, Water Heater, some Windows and Garage Door. Preapproval letter and Addendum required with offer. Priced for immediate sale.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Hardwood floor	Family room	Living room
Dining room	Basement	Laundry area - inside
Balcony, Deck, or Patio	Yard

ADDITIONAL PHOTOS

Photo 1

Contact info:

Ray Spitler, GRI, e-Pro

Keller Williams Realty

(989)737-8042

For sale by agent/broker

Equal Opportunity Housing

Posted: Feb 26, 2009, 8:17pm PST

Great Investment Income Potential!

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Sun, 15 Feb 2009 00:32:24 -0600

This is an attractive duplex with great rental income!

3037 N Center, Saginaw, MI 48603

LAND CONTRACT AVAILABLE on this very nice duplex in prime Saginaw Township location. Walk to school, Saginaw Courts and the Library. Great rental history, Tenants pay all utilities. Priced well below SEV to sell now. Leases flexible if buyer to occupy.

Both units have 2 bedrooms, 1 bath, central air, private decks, 1-car attached garage, and 993 sq feet of living space. All for just $110,000!

This would make a great steady rental income or a nice home for you with the second unit paying part of your mortgage! Give me a call today before this duplex is sold!

Call: Ray Spitler,
GRI, e-Pro
Keller Williams Realty
(989) 737-8042
MBShomes.com

Serving Midland, Bay & Saginaw County Michigan.

Great Investment in Saginaw Michigan

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Fri, 02 Jan 2009 11:26:17 -0600

Investment / First-Home / Foster Care

Click Here For More Details

Owner has invested over $93,000. Great investment or first home. Previously licensed for Adult Foster Care.
Move in condition.
More info at: www.MBShomes.com/mls1902

Your Tri-City HOME Connection

1902 N Bond St
Saginaw, MI 48602

Listing Type: Residential
Price: Was $69,900
Now: $39,900!
Bedrooms: 3
Baths: 2
Garage: 2 Car Detached
Sq Ft: 1878

Call: Ray Spitler,
GRI, e-Pro
Keller Williams Realty
(989) 737-8042
MBShomes.com

Serving Midland, Bay & Saginaw County Michigan.

Automated Updates / Information Center

Loan Modification- available sooner for homeowners, avoid foreclosure

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Fri, 02 Jan 2009 09:24:40 -0600

Publication: The Columbus Dispatch;Date: Dec 21, 2008;Section: Home & Garden;Page: I4

THE NATION'S HOUSING- Homeowners can modify loans sooner

Here's some good news for homeowners facing tough financial times: You no longer have to miss two to three months of payments before your mortgage company can modify your loan terms.

Starting immediately, Fannie Mae will allow borrowers who face imminent financial difficulties to request early loan alterations, even if they've never been late.

Fannie's policy change has the potential to help thousands of people who are losing jobs or facing layoffs as the recession crunches onward.

Most lenders and loan servicers traditionally have declined to intervene in mortgage problems until borrowers are 60 to 90 days late.

At that point, loss-mitigation staffs can try to work out solutions through rescheduling of back payments, forbearance, extending the loan term and other techniques.

Under Fannie Mae's revised approach, servicers of the company's loans will be required to inform borrowers that if they are reasonably certain that changes in their income will cause them to miss mortgage payments, they might qualify for a loan modification in advance.

Borrowers who qualify will enter into a trial period - usually four months - of reduced payments. If they make payments on time during the trial, the modified mortgage terms could be made permanent.

For example, say your spouse loses a part-time source of income, and suddenly you're short $400 a month needed to make your $2,000 mortgage payment. In the past, if you called your loan servicer, you'd likely be told that longstanding rules prohibit any help to you until you have become delinquent by several months.

But by that time, you might be thousands of dollars in the hole, racking up big late-payment penalties.

Under the new plan, by contrast, Fannie's servicers can now tell you upfront: We'll try lowering your monthly payments to accommodate the $400 in missing income. If you're current on the lowered payments after a four-month trial and your income situation hasn't rebounded, we'll make the change permanent.

Officials said servicers will examine the facts in each case, check income, credit reports and other documentation to ensure that borrowers aren't faking income shortages just to get a lower payment.

Fannie's new loan-modification program puts the company in sync with a number of other large mortgage institutions that have begun reaching out to borrowers facing economic strains before they end up in serious delinquency or foreclosure.

For instance, JPMorgan Chase chairman Jamie Dimon says he expects his company to work with as many as 400,000 customers who might be in danger of missing payments. Bank of America has announced a similar effort.

Freddie Mac has permitted its servicers to negotiate early modifications in some circumstances for years, according to spokesman Brad German, although the company has not aggressively publicized it to borrowers.

With the addition of Fannie Mae, most major players in the mortgage market now say they offer some form of early intervention for consumers heading for defaults. But there's a big unknown here: If your servicer modifies the terms of your loan, will you stay out of trouble? Or might you fall behind again?

The jury is still out. On the one hand, some recent federal statistics show that 53 percent of modified loans end up in re-defaults within six months. Modification advocates such as Sheila Bair, chairwoman of the FDIC, argue that changes to loan terms that go deep enough to meaningfully deal with borrowers' ongoing financial problems succeed at far higher rates.

One of the country's largest servicers of delinquent subprime mortgages, Ocwen Financial of West Palm Beach, Fla., agrees. Less than one-quarter of its modifications - often involving significant cuts in interest rates and payments and sometimes even reductions in principal debt - end up re-defaulting, said Paul Koches, the company's executive vice president.

"If you do it right," he says, "modifications really work."

Kenneth R. Harney covers housing issues on Capitol Hill for the Washington Post Writers Group. You can write to him at P.O. Box 15281, Chevy Chase, Md. 20815 or send e-mail. kenharney@earthlink.net

Ray Spitler does loan modifications, and specializes in short sales in the Midland, Bay, and Saginaw County Michigan areas. Contact Ray at (989)607-6252 or visit www.MBShomes.com

Lakefront foreclosure- Lake St Helen, Michigan

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Thu, 01 Jan 2009 13:12:34 -0600

1655 Leeward Ln, Saint Helen, MI 48656 $375,000

This new price is a bargain! Take advantage of all-time low interest rates and purchase your dream home on beautiful all-sports Lake St Helen. 95' of choice frontage, private setting at end of the road and view of the water from most every room! Perfect for vacations or year-round lakefront living at its finest. Private beach & boat launch w/30ft dock. 3 BR, 2-1/2 baths, large knotty oak kitchen, breakfast nook and dining area. Great room w/vaulted ceiling, skylights and cultured stone fireplace. Heated Sun/spa room. Private Master Suite with walk-out to deck. Finished/heated garage, and an artesian well your friends will envy. Just in time to enjoy the whole summer so don't delay! Make an offer today!

Keller Williams Reunion 2009- are you going?

Ray Spitler, GRI, e-Pro (Keller Williams Realty) — Mon, 29 Dec 2008 22:32:07 -0600

I attended my first Keller Williams reunion last year in Atlanta and was overwhelmed by what I experienced!

Not sure what to expect, I was surprised to see Keller Williams Realty banners on all the light posts around the city and especially in the vicinity of the convention center. Atlanta really rolled out the red carpet to greet us and I could not help but feel a surge of pride for the company we are associated with.

After signing in and getting aquainted with the facility, I could not wait to attend my first breakout session. The only problem I had was deciding which ones to attend, and which ones I had to miss due to lack of time. It really could have gone on a couple more days and I would have still enjoyed every minute.

The Red Bash was unbelievable. I had no idea of the amount of talent we have within our ranks. You would have thought you were attending a major concert event, by the level of class, creativiity and stage presence we experieinced. From the professional lighting to sound mixing and special effects, this was truly a specticle not to be missed. My hat's off to all the people who put this together!

I signed up for 2009 before I left the event last year. That's how much I enjoyed the experience.

So if you are wondering if this is the year you should attend, or if you can afford to go, or is it worth the time and expense....

My response is absolutely! You can not afford not to go! Especially in light of all the changes taking place in our businesss. This is definately the time to invest in your future and decide to make 2009 your best year ever, and you will find the tools you need at this event to catipult your into the new year.

You will not regret it!

Ray Spitler, GRI,e-PRO
Certified Short Sale expert
Keller Williams Realty, Midland, Bay, Saginaw County Michigan
www.MBShomes.com