An Example Of How a Southeast Michigan Real Estate Mortgage Lender Lost Money For No Reason At All

Posted in Southeast Michigan Real Estate by Michigan Real Estate Expert on June 27th, 2008

In July of 2007, I had a short sale listing with a well known Southeast Michigan real estate mortgage lender having a first lien. I was able to negotiate a $135,000 sale for the seller which was fair market value at the time. After several months of deliberation, the bank denied its approval for the short sale and ended up foreclosing. Now, approximately one year later, the bank sold the home for $95,000. Amazing!!!!!

Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
Call:  248-514-2640

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