Chat about Macomb County MI real estate & Homes for sale search site

About a year ago I wrote an article called “Short Sale Skinny”.

I think it’s time I updated that article as things are changing in the short sale process for homeowners and buyers alike in Michigan: The process is actually taking much less time AND the banks (mortgage holders) are being much more realistic.

Talking with other agents this past week about their short sale experience for their buyers and sellers was an eye opener.  Most are saying that the purchase for these homes are being approved in under 60 days now, sometimes in as little as 30 days. That’s not to say that the exceptions can occur and some approvals or even a reply from the bank lender can take 90+ days, but we are starting to see some sense of urgency from the mortgage holders.

One reason for this abrupt time for approval change is because of proactive real estate agents: They are submitting the necessary short sale documents to the mortgage holders before receiving an offer on the home, and that is speeding up the process tremendously.

Homeowners in Macomb County: If you would like to know more about short sales in order to save your home from foreclosure please don’t hesitate to contact me.  I can refer you to an agent that specializes in short sales - no pressure, I promise.

~Kris Wales~  A partner for your real estate needs in Macomb County MI