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Rock Realty Client Testimonials

"We found Mike online, and, due to positive reviews, phoned him with a request to view houses in the Madison area. We gave Mike no more than one or two days notice, but he was happy to devote the whole of his weekend to us. Our entire house-hunting experience proceeded in similar fashion. We were hunting for houses long distance, so we would wait until an opportunity to travel to Madison presented itself, phone Mike, giving him one or two days to prepare, and show up to view houses. The process took roughly one year to complete. It was long and difficult, but Mike was always pleasant, never complained, made an effort to make himself immediately available, and was never pushy.

Mike is not like many real estate agents who simply want to make a sale, any sale. Instead, Mike made an effort to help us make an honest assessment of the properties we viewed, often pointing out problems himself. Mike left us with no doubt of his honesty and his dedication to his clients.

In addition, since we were shopping long-distance, Mike, with some help from his associate Bethany (who we found to be similarly pleasant and eager to be of service), even took hundreds of high definition photos of properties which he viewed in our stead, often with only a single day's notice. Mike, or one of his associates, would then promptly email the photos to us to view.

During the house-hunting process we changed our minds a number of times, imposed last minute requests, and even had some near melt-downs, but, through it all, Mike was responsive, cheerful, and level-headed. We cannot overstate how hard Mike worked on our behalf. We highly recommend him to any home buyers."

Graham S. & Janet H. (Middleton, Wisconsin 53562)
Rock Realty Home Buyer Client

Thanks for the compliments, and Congratulations on your new home Graham & Janet!

Looking to purchase a home in Wisconsin?? Contact Rock Realty! We would love to help!!

An Interesting Alternative to Foreclosure: A Deed in Lieu of Foreclosure (edit/delete)

There is a new (actually renewed ) option for underwater homeowners who cannot, or do not want to pay their mortgage. A deed in lieu of foreclosure is an agreement between the bank and the borrower. The borrower gives the home back to the bank and the bank does not have to go through the foreclosure process. It can be a win win situation for both the bank and the borrower.

The government HAFA program is the major force behind this renewed option. If a borrower does not qualify for a loan mod, or gets a mod and is not able to make the payments, this government program encourages the banks and the borrowers to pursue either a short sale or a deed in lieu. By encouragement I mean gives financial incentives, in order to decrease the number of foreclosures, vacant homes, and neighborhood blight.

Under the HAFA deed in lieu program the borrower agrees to give the home back to the bank and in exchange the bank helps with some relocation costs and also agrees not to pursue a deficiency judgment. Depending on the state the borrower lives in and they type of loan, after a bank forecloses or agrees to a short sale they still may have the right to go after the borrower for the amount of the money the bank lost. HAFA stops that ability of the bank to pursue a deficiency.

In addition to the halting of any deficiency judgments, the privacy afforded by not being foreclosed and evicted, and the help with re-location costs (Bank of America is offering $3,000-$15,000) borrowers who agree to a deed in lieu can purchase another home after 2 years instead of the 5-7 after a foreclosure.

So what is the catch? The pesky second loan once again can get in the way. If the borrower has a HELOC or second loan on the property this process does not work. In these cases the borrower must try for a loan mod, do a short sale, or be foreclosed if he/she can not pay the mortgage.

In California as well as other high priced states many homeowners have at least two loans on their homes. The cost of the home required so much down payment that many borrowers used a second loan in place of, or in addition to the amount they had for their down payments. As a result the option of a deed in lieu of foreclosure is not an option.

I think this is a good option for banks and homeowners. Wouldn't you enjoy not having to kick someone out of their home?

relocation (2)

We cannot overstate how hard Mike worked on our behalf

Deeds in Lieu of Foreclosures: Homeowners Need to Be Informed

An Interesting Alternative to Foreclosure: A Deed in Lieu of Foreclosure (edit/delete)

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