A Foreclosure May Not Be Your Only Option
A “Short Sale” is the sale of a home for less than what is owed to the lender when there is proof of hardship and financial distress.
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Real Estate Dictionary: Canton, Plymouth and Northville Michigan home buying, real estate listings, and homes for sale in Wayne County, MI

Welcome > Resources > Real Estate Dictionary - A

Underwriting	The process of analyzing a borrower's capability to honor repayment of a loan (evaluating his or her credit, assets, employment) along with the value of the property being purchased, to help minimize the risk involved for the party lending the purchase money
Unilateral contract	A one-sided contract in which only one party is legally under obligation by the terms of the contract; one party promises an action to the second party, who is not legally required to respond, but if the second part does comply, then the first party is obligated to honor the promise made
Unsecured loan	A loan that is not guaranteed by collateral
Usury	The act of charging more than the maximum rate of interest permitted by law

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The Bittinger Team, REALTOR®, real estate agents and broker for Canton, Plymouth and Northville Michigan home listings, property and land for sale - NUMBER1EXPERT(tm)

THE BITTINGER TEAM
RE/MAX Classic
43435 Joy Road
Canton, MI. 48187
Office: 734 459-2600
Fax: 734-979-0999
Email: team@bittinger.com
Lee and Noel Bittinger, ABR, CRP, CRS, e-PRO, GRI have set the standards for Real Estate in Wayne and Oakland Counties having received every major real estate award, as well as being important contributors to the real estate industry and in the community for over 22 years. They have led the way in specialization, education, marketing and innovations, as well as giving back generously to the community. The Bittingers are known for their integrity, enthusiasm, experience and knowledge. They are the guiding spirit for every transaction and every client their team serves. Given the current state of our real estate market and what it is doing to so many families, The Bittinger Team took it into their own hands to become Short Sale Experts! Every agent on The Bittinger Team has now acquired their "Certified Distressed Property Expert" designation, or CDPE. This experienced, and highly trained group of agents have dedicated their time and effort to understanding the critical issues that distressed homeowners are facing.

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