Foreclosure Response Team Expands Operations to Michigan

Ft. Lauderdale, FL, April 19, 2009 --( Scott D. Coloney, President of the Foreclosure Response Team of Florida, has announced that as of January 2009, the company will be expanding its operations to the state of Michigan in response to the current economy in that state. Michigan, with one of the highest unemployment rates in the country and falling home values stands to benefit from the Foreclosure Response Team’s presence in Michigan. Heading up operations for The Foreclosure Response Team of Michigan will be Cathy Sherman Bittrick, Broker/Owner of multi-award winning RE/MAX Sun Quest in Grand Rapids and 2009 Regional Vice President for the National Association of Realtors.

“We felt it crucial to be proactive in responding to a market facing the economic challenges of falling property values and high unemployment. People are facing the loss of their home and destruction of their credit through foreclosure. Foreclosure Response Team provides an opportunity for both the homeowner and lender to mutually benefit from the short sale situation.” said Coloney.

“The Foreclosure Response Team of Michigan has been organized to help those people in trouble by selling their property through a Short Sale instead of being foreclosed on, while ultimately helping to stabilize the real estate market,” he added.

If approved, a Short Sale can help an owner avoid foreclosure, additional fees paid to the lender for costs associated with the foreclosure action, and terminal condition of their credit report for years to come.

“Scott is a visionary whose innovative Foreclosure Response Team can help in the implementation of a rescue plan for those who may fall victim to the financial repercussions of income loss and falling property values in the State of Michigan.” says Sherman Bittrick who is working in conjunction with her husband Barry as FRT Co-Directors.

“With the current economic situation and the uncertainty of the auto industry’s future in Michigan, RE/MAX SunQuest is ready to lead the Foreclosure Response Team of Michigan so that we may take part in having a significant impact in the betterment of the quality of life for people suffering in our current situation by moving properties in the Short Sale process in lieu of foreclosures,” she added.

Initially launched in Florida in May 2008, an innovative concept serving as a consumer advocate, the Foreclosure Response Team is a national sales, marketing and technology company that provides loss mitigation services and expedites the sale of residential and commercial properties facing foreclosure, with a specialization in Short Sale transactions. The Foreclosure Response Team is made up of a coalition of veteran real estate professionals in the areas of financial services, real estate law, credit consultation, sales & marketing and serves as an invaluable third-party resource for property owners, buyers and real estate agents alike.

Through FRT’s departmentalized structure, real estate agents are relieved of the cumbersome and complicated tasks associated with the administration, management and processing of Short Sale transactions, allowing them the opportunity to focus on the sale of the home.

A Short Sale transaction occurs when there is a declining market and personal financial conditions force a property owner to sell their property for less than what is owed on the mortgage and the lender agrees to accept less than full amount as payment in full. The seller benefits by not having to go into foreclosure or as harsh of a credit rating consequence, but receives no funds at closing. The buyer benefits by getting a great value on a new home purchase. The bank also benefits by avoiding a costly foreclosure process and being responsible for property taxes, insurance costs and maintenance of the property, in addition to facing any code violations that may arise due to the lack of upkeep.

The Foreclosure Response Team of Michigan expects to have approximately 600 real estate agents signed up as part of the Foreclosure Response Team Broker/Agent Affiliate Program by the end of 2009.

For more information on the Foreclosure Response Team of Michigan, contact Cathy Sherman Bittrick, Broker/Owner of RE/MAX SunQuest at 616-949-6980 or 1-800-800-3915. The office is located at 6255 28th Street, S.E., Grand Rapids, MI, 49546. The Foreclosure Response Team headquarters are located at 1507 East Las Olas Blvd., Fort Lauderdale, FL 33301. For more information call Scott D. Coloney at 954-760-4888 or visit

Lisa Mizrachi