Kalamazoo MI Real Estate – Even though short sales have been around in Kalamazoo for a while, may people still don’t understand what they are and how they work. Over the next few posts we will try to give you the low down on Kalamazoo Short Sale information. Bottom line is, if you or someone you know is behind on mortgage payments OR you look like you will fall behind, give us a call. Our short sale services are completely FREE to home sellers–and it can help you avoid stress and save your credit from the marks of a foreclosure!
A short sale is the process by which a homeowner can sell a house for less money than he actually owes on the mortgage(s).
This is best accomplished by using the services of a skilled Mortgage Negotiation Specialist AND a REALTOR who provide the and market expertise that mortgage holders need to consider whether to reduce the mortgage balance and allow the sale to occur. The mortgage lender (or bank) may actually agree to take a loss on the mortgage because the market value of the home has fallen below the mortgage balance AND the homeowner has a hardship that is not temporary and is therefore in a poor financial condition that will not allow him to continue to make regular mortgage payments. If the bank approves the discount on the mortgage, the home can be sold for a lower price without the seller having to come up with cash to cover the shortfall. In that case, the mortgage is satisfied and any foreclosure process stops.
Your Kalamazoo REALTORS, the Veenstra Team has created a team that is very effective in helping families in distress sell their house through a short sale. Give us a call and we will provide you with options to avoid foreclosure in the greater Kalamazoo area today! Calls are totally confidential.
Here is our contact info:
David Veenstra REALTOR
Jason Veenstra REALTOR