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Foreclosure Response Team Expands Into Virginia, Maryland And Washington, Dc Areas
By Langston Mizrachi & Co.
Dated: Jul 21, 2009
Scott D. Coloney, President of Fort Lauderdale, FL –based Foreclosure Response Team, has announced
the company’s recent expansion into Virginia, Maryland and Washington, DC areas.
FORT LAUDERDALE, FL– Scott D. Coloney, President of Fort Lauderdale, FL –based Foreclosure
Response Team, has announced the company’s recent expansion into Virginia, Maryland and Washington,
DC areas. The Foreclosure Response Team is a national Realtor network with advanced short sale
technology, training and loss mitigation services. The firm expedites the sale of residential and commercial
properties facing foreclosure, with a specialization in Short Sale transactions. Marc Cormier, real estate
agent with Re/Max Allegiance, a brokerage with over 750 agents, located in McLean, Va. will be serving as
the Director heading up operations for the Washington DC region. Cormier expects to have approximately
300 – 500 Realtors across the region signed up as part of the Broker/Agent Affiliate Program by the end of
2009. The Foreclosure Response Team also has affiliate offices across the state of Florida, in Michigan and
Marc Cormier is a Realtor servicing the DC Metropolitan Area where he is licensed in Maryland, Virginia
and the District of Columbia. Cormier serves as a leading agent with Re/Max Allegiance and is a regular
guest on the radio show “Manage Your Mortgage”. You can also hear Marc on “The Mortgage Watch
Dog” Saturdays at 1pm on AM 630 WMAL as the “Short Sale Guru”. Even in these challenging times,
Marc has been recognized by his peers as a Multi-Million Dollar Producer.
As cited in an article in the Washington Business Journal dated May 13, 2009 by Tucker Echols “Virginia
and Maryland have more foreclosures, but a new report shows that D.C. had the biggest increase last
month. D.C. foreclosure filings surged to 398 in April — up 42 percent from a year ago. Virginia defaults
increased 5 percent to 6,254 and Maryland foreclosures dropped 39 percent to 3,613 according to the latest
survey by Irvine, Calif.-based RealtyTrac, a foreclosure research firm. Compared to March of this year,
District foreclosures were 21 percent higher, those in Virginia increased 9 percent and Maryland
foreclosures gained 8 percent. Virginia has the highest rate of default among the three jurisdictions with one
in 524 homes receiving a foreclosure notice. Maryland is next with a default rate of one in every 642
homes. The District’s default rate is the lowest at one in every 714 homes.
“The Foreclosure Response Team’s expansion into the Washington DC region is part of the company’s
aggressive plan to provide prime markets across the country with the professional resources necessary to
help to homeowners avoid foreclosure through a Short Sale,” said Coloney.
If approved, a Short Sale can help a distressed borrower avoid foreclosure, additional fees paid to the
lender for costs associated with the foreclosure action, terminal condition of their credit report for years to
come and possible bankruptcy.
“Working together with the Foreclosure Response Team provides an opportunity to leverage myself as an
agent, increasing the number of short sales I can accomplish, as well as providing more help to
homeowners facing foreclosure that need assistance,” said Cormier. “As an individual agent, one can only
negotiate a few short sales at a time. However, with the Foreclosure Response Team resources, the
negotiation process is much more timely and efficient,” he added.
Through FRT’s departmentalized structure, real estate agents are relieved of the cumbersome and
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complicated tasks associated with loss mitigation and processing of Short Sale transactions, allowing the
opportunity to focus on the sale of the home.
What is a Short Sale?
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.
About Foreclosure Response Team
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 loss mitigation, sales & marketing, title, and technology.
FRT serves as an invaluable third-party resource for property owners, buyers, real estate agents and
For more information on the Foreclosure Response Team of Virginia, Maryland or Washington, DC, call
Mark Cormier at 917-859-8600. The office is located at 6626 Old Dominion Dr., McLean, VA 22101. The
Foreclosure Response Team headquarters are located at 600 South Andrews Ave., Suite 300, Ft.
Lauderdale, FL 33301. For more information call Scott D. Coloney at 954-760-4888 or visit
Langston Mizrachi & Co. (LM&Co.) is a boutique public relations agency offering a broad range of public
relations services including media relations, crisis communications, media training, community relations,
PR marketing and special events/promotions.
Tags foreclosure, loss mitigation, short sales
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