SHORT SALES

Short Sales on The Risewww.HomesForSaleKalamazoo.com for all your short sale needs. It is common for many homeowners in a depreciating market to find themselves in a situation where they owe more on their home than its worth. In this case, where a homeowners owes more, and needs to sell, the best option in some cases is a short sale.
Short Sale: A sale of real estate in which the seller has their mortgage company settle for less than the balance of the loan.

In a short sale, the bank agrees to release a mortgage balance due to a hardship of a job loss or financial counterparts. This is all negotiated through the loss mitigation departments of the mortgage holders bank.  The owner of the home in some cases does not have to pay the remaining balance of the loan, as most ty to negotiate with the banks. The bank will always have to right to approve or deny a short sale. A main reason a short sale is denied, is due to the seller either not owing more than its worth, or the seller/ owner has sufficient funds to settle the balance.

A short sale is typically done in order for the homeowner to avoid foreclosure and save their credit, but ultimately the bank will decide on which way is most economical to recover the funds of the sale. Often a bank will allow a short sale if they believe that it will result in a smaller financial loss than foreclosing as there are carrying costs that are associated with a foreclosure. A bank typically determines the amount they will settle for by ordering a BPO, or appraisal on the home to determine its value. Once the value is determined, the bank will decide if it is more economical for them to settle now, or go into foreclosure.Kalamazoo, MI and Portage, MI are profound areas where short sales are taking place because the market is declingin. www.HomesForSaleKalamazoo.com answers many of those questions.

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About Buying Kalamazoo
Matt Mulder is an award-winning real estate professional in South West Michigan as well as leader and CEO of the #1 Real Estate Team in the area. The Matt Mulder Home Selling Team consistently helps over 300 families a year with their real estate needs, and would love to help you buy and sell as well! Matt launched his career in 2006 at the age of 23 being one of the youngest professionals in the area, after graduating from Western Michigan University with a degree in Business Management. Through hard work, persistence and devotion to great client care, Matt has grown to be in the top 1% of real estate professionals in the world. His determination to treat each client with the same care and respect, no matter what, has catapulted him to the top of his game. Using tried and true methods, as well as a proven systematic approach, Matt and his team are committed to making sure each and every person is 100% satisfied with their buying or selling experience.

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