Our role as Kalamazoo short sale specialists is to PREVENT foreclosures for our clients. In most of the cases where a foreclosure is looming, we can help the seller avoid a foreclosure. In fact, our short sale team has been successful in 95% of the short sales that we have started! That compares to a less than 50% success rate for all the other short sales that have been on the Kalamazoo real estate market in the last year.
A short sale provides a win – win- win – win situation and we can even help relieve all the burden of dealing with the bank.
If you are struggling to meet your mortgage payment or already have a 30, 60 or 90 day delinquency on your Kalamazoo mortgage, please don’t delay! Give us a call ASAP. We offer completely free consultations and completely free seller services to short sale clients. There is no reason NOT to call and seek a free consultation.
The language around foreclosures and short sales can sometimes be very confusing. As top Kalamazoo area REALTORS for years, we focus on exceptional service and empowering our home sellers and home buyers. We provide the service, tools and expertise to allow you to make the wisest home decisions. In this case, part of that service also includes making sure that you understand some of the REO terminology that you may be hearing. Here is a short list of terms that it would be good to add to your real estate vocabulary.
(1) Arrears: a home that is delinquent on payments – being there is red flags a possible future foreclosure.
(2) Decree (short for decree of foreclosure): the ruling that declares a property should be sold to pay its mortgage.
(3) Default property: a home behind in payments to a mortgager. May describe a property in (or close to going into) actual foreclosure proceedings.
(4) Power of Sale: a legal decree giving the mortgager or lien holder the right to advertise a home sale in order to bring the mortgage up to date.
(5) Quit claim deed: a declaration turning all rights to a property back to the lending bank or mortgager.
There is no shortage of information online (both trustworthy and not so muc) about Kalamazoo REO or foreclosure situations. We are always committed to working in the best interests of every home buyer and home seller we work with. As we mentioned above, in most cases, a short sale can be the most desirable solution. If you should fall behind in your own mortgage payments, a good understanding of your options is the first step toward bending the situation in a positive direction.
David or Jason are available to meet privately to discuss selling or purchasing short sales and foreclosures. We have great services, systems, tools and resources to help you!