Sun Law Group, PLC, a firm based in Grand Rapids, Michigan that assists with negotiating and coordinating short sale transactions, and ""Lighthouse Title Group"":http://www.lighthousegroup.net/Title, a title insurance agency with 18 offices throughout Michigan, have formed an alliance to offer a joint short sale and closing service solution to homeowners in the state.
[IMAGE] ""The number of short sale transactions has risen significantly in recent years and we feel this trend will continue for the foreseeable future,"" said Bob Wuerfel, president of Lighthouse Title Group.
""Short sale transactions are complicated and time consuming and the title and real estate industries have struggled over the past year with providing these services to the marketplace,"" Wuerfel added.[COLUMN_BREAK]
According to the partnering organizations, the economics on all sides of a short sale are pretty clear-cut Ã¢â‚¬" distressed homeowners get out from under their mortgage debt and banks typically recover more from a short sale than a foreclosure.
However, they note that short sale transactions can present a unique set of issues that are legal in nature and that require a high degree of documentation, negotiating, and attorney oversight.
""As a law firm we assist homeowners with the short sale process thereby alleviating the need for realtors and title companies to process the transactions themselves,"" said Thomas Cronkright, II, CEO of Sun Law Group.
""You have to know what you're doing or you may open yourself to significant liability down the road,"" Cronkright continued. ""As attorneys and certified continuing education instructors in the area of short sales and foreclosures, we are experts in this unique area of the law and have developed the team and systems to provide complete services on every transaction.""
The alliance between Lighthouse Title Group and Sun Law will allow both companies to offer short sale coordination and negotiation services throughout Michigan.
Lighthouse Title Group and Sun Law began offering this state-wide service solution on May 16.