FARMINGTON HILLS – Realcomp II Ltd., a Michigan largest Multiple Listing Service provider, has partnered with Fannie Mae, a government sponsored agency, geared toward streamlining the short sale process and reducing foreclosures that can be headed off through successful short sale transactions.
Additional goals of the joint venture include decreasing on-market inventory, helping to stabilize the housing market and improving overall property values.
“With Michigan’s troubles over the past year, we want this partnership to serve as a vehicle for righting the ship,” said Karen Kage, CEO of Realcomp II Ltd. “By working to reduce foreclosures; and in turn; assist troubled homeowners, Fannie Mae is ?putting its money where its mouth is? in a concerted effort to improve the residential real estate market.”
The agreement came out of a consensus decision by the two organizations that more needs to be done to eliminate difficulties associated with short sales, reduce foreclosures, and ultimately help consumers.
“For years, we’ve been on the forefront of Michigan’s housing market trends, and now we have a chance to positively influence that marketplace and, perhaps, serve as a model for improvement,? Kage said.
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