Foreclosure Response Team Facilitates Short Sale Closing in Michigan
Fort Lauderdale, FL, July 24, 2009 --(PR.com)-- The Foreclosure Response Team of Michigan, a corporate affiliate of Fort Lauderdale-based Foreclosure Response Team (FRT) led by President Scott D. Coloney, has announced that the company has facilitated its first Short Sale since expanding into the state of Michigan this past January. The modular home, situated on a 3-acres parcel is located at 8425 SE Timber Crossing; Alto, MI, sold for $150K after the price was systematically dropped from $209K over a two month period. Fifth Third Bank is the Short Sale lender that approved the sale. The closing, which took place on May 1, 2009, was processed in less than 30 days. A typical approval period is approximately 90 days. Woody Watson, Realtor with Re/MAX SunQuest in Grand Rapids handled the sale.
The Foreclosure Response Team is a national sales, marketing and technology company that provides loss mitigation services and expedites the sale of residential and commercial properties facing foreclosure, with a specialization in Short Sale transactions
Foreclosure Response Team of Michigan Director Cathy Sherman Bittrick, who is the Broker/Owner of multi-award winning RE/MAX SunQuest and 2009 Regional Vice President for the National Association of Realtors says, “The Foreclosure Response Team was the answer we needed to help with the difficult Michigan market. After closing our first Short Sale within 30 days of the purchase agreement, RE/MAX SunQuest agents are convinced that this is the only professional and ethical way to help sellers and banks move through the huge inventory of homes before they end up in foreclosure. New agents are signing up every day with a steadily increasing listing inventory and we're excited to be a part of such a progressive team."
Through Foreclosure Response Team’s departmentalized structure, real estate agents are relieved of the complicated tasks associated with the administration, and processing of loss mitigation when handling Short Sale transactions allowing them the opportunity to focus on the sale of the home. Affiliate agents are provided secure access the online short sale management system which efficiently provides real time updates and data flow between loss mitigation experts and Affiliate agents.
“Working with the Foreclosure Response Team to process my client’s Short Sale was extremely effective and efficient. The company provides the valuable marketing and professional resources needed to increase the sellers’ success rate when processing a Short Sale,” said Woody Watson. Because of the positive results with this transaction, I am able to provide more specialized assistance to other homeowners who are in dire financial straits by helping them to sell their property through a Short Sale, instead of losing their home to foreclosure,” he added.
If approved, a Short Sale can help a distressed borrower avoid foreclosure, additional fees paid to the lender for costs associated with the foreclosure action, terminal condition of their credit report for years to come and possible bankruptcy. When handled properly, a successful Short Sale is beneficial to all parties involved including the mortgage lender(s), borrower and overall community.
About Foreclosure Response Team
Initially launched in Florida in May 2008, an innovative concept serving as a consumer advocate, the Foreclosure Response Team is a national sales, marketing and technology company that provides loss mitigation services and expedites the sale of residential and commercial properties facing foreclosure, with a specialization in Short Sale transactions. The Foreclosure Response Team is made up of a coalition of veteran real estate professionals in the areas of loss mitigation, sales & marketing, title, and technology. FRT serves as an invaluable third-party resource for property owners, buyers, real estate agents and mortgage servicers.
For more information on the Foreclosure Response Team of Michigan, contact Cathy Sherman Bittrick, Broker/Owner of RE/MAX SunQuest at 616-949-6980 or 1-800-800-3915. The office is located at 6255 28th Street, S.E., Grand Rapids, MI, 49546. The Foreclosure Response Team headquarters are located at 600 South Andrews Ave., Suite 300, Ft. Lauderdale, FL 33301. For more information call Scott D. Coloney at 954-760-4888 or visit www.ForeclosureResponseTeam.com.
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The Foreclosure Response Team is a national sales, marketing and technology company that provides loss mitigation services and expedites the sale of residential and commercial properties facing foreclosure, with a specialization in Short Sale transactions
Foreclosure Response Team of Michigan Director Cathy Sherman Bittrick, who is the Broker/Owner of multi-award winning RE/MAX SunQuest and 2009 Regional Vice President for the National Association of Realtors says, “The Foreclosure Response Team was the answer we needed to help with the difficult Michigan market. After closing our first Short Sale within 30 days of the purchase agreement, RE/MAX SunQuest agents are convinced that this is the only professional and ethical way to help sellers and banks move through the huge inventory of homes before they end up in foreclosure. New agents are signing up every day with a steadily increasing listing inventory and we're excited to be a part of such a progressive team."
Through Foreclosure Response Team’s departmentalized structure, real estate agents are relieved of the complicated tasks associated with the administration, and processing of loss mitigation when handling Short Sale transactions allowing them the opportunity to focus on the sale of the home. Affiliate agents are provided secure access the online short sale management system which efficiently provides real time updates and data flow between loss mitigation experts and Affiliate agents.
“Working with the Foreclosure Response Team to process my client’s Short Sale was extremely effective and efficient. The company provides the valuable marketing and professional resources needed to increase the sellers’ success rate when processing a Short Sale,” said Woody Watson. Because of the positive results with this transaction, I am able to provide more specialized assistance to other homeowners who are in dire financial straits by helping them to sell their property through a Short Sale, instead of losing their home to foreclosure,” he added.
If approved, a Short Sale can help a distressed borrower avoid foreclosure, additional fees paid to the lender for costs associated with the foreclosure action, terminal condition of their credit report for years to come and possible bankruptcy. When handled properly, a successful Short Sale is beneficial to all parties involved including the mortgage lender(s), borrower and overall community.
About Foreclosure Response Team
Initially launched in Florida in May 2008, an innovative concept serving as a consumer advocate, the Foreclosure Response Team is a national sales, marketing and technology company that provides loss mitigation services and expedites the sale of residential and commercial properties facing foreclosure, with a specialization in Short Sale transactions. The Foreclosure Response Team is made up of a coalition of veteran real estate professionals in the areas of loss mitigation, sales & marketing, title, and technology. FRT serves as an invaluable third-party resource for property owners, buyers, real estate agents and mortgage servicers.
For more information on the Foreclosure Response Team of Michigan, contact Cathy Sherman Bittrick, Broker/Owner of RE/MAX SunQuest at 616-949-6980 or 1-800-800-3915. The office is located at 6255 28th Street, S.E., Grand Rapids, MI, 49546. The Foreclosure Response Team headquarters are located at 600 South Andrews Ave., Suite 300, Ft. Lauderdale, FL 33301. For more information call Scott D. Coloney at 954-760-4888 or visit www.ForeclosureResponseTeam.com.
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