San Francisco, CA (PRWEB) August 8, 2005 -
Â OutOfBankruptcy.com (http://www.outofbankruptcy.com), the leading provider of home loan options for quick debt solutions and bankruptcy mortgages, today announced the launch of a new loan program Â The 12 Month Forbearance Buyout. Mortgage Forbearance is a process that helps individuals repay their late or unpaid mortgage bills under a repayment plan. This program is unique because it can give someone the ability to keep their house during a time when previously, foreclosure would have been the only possible outcome. With the 12 Month Forbearance Buyout, if regular and catch-up payments are made as agreed by both the mortgage lender and borrower, then the house can be saved and the borrower avoids being foreclosed upon (and also eliminates the additional impacts that the foreclosure process would have on someone's credit for years to come).
"This program is one of the most aggressive loan products available today. It creates a win/win situation where there was previously no hope for someone. Now, both the homeowner and the current mortgage holder come out ahead," said Kevin Green, Founder of OutofBankruptcy.com. "It allows the homeowner to get a fresh start and the mortgage holder to get paid. And lenders would rather earn monthly payments then have to deal with foreclosure. For a homeowner, this means that instead of almost losing the American Dream, they're able to refinance and catch up Â it's a windfall."
According to the FDIC, the U.S. personal bankruptcy rate has risen to a historically high level with over 1.6M bankruptcies filed in US Bankruptcy Courts last year. OutOfBankruptcy.com provides homeowners with a solution so that no one loses their investment. With a decade of experience in working with debt heavy homeowners, the company provides services not available by other lenders. It is the company's mission to always look out for the best interest of their clients, no matter what the situation, by providing good professional advice. With a network of partners and lenders, OutOfBankruptcy.com makes transactions easy and smooth during a difficult time.
OutOfBankruptcy.com has already helped a number of homeowners with its 12 Month Forbearance Buyout loan program. And because the company works with everything from low credit scores, too much existing debt, tax liens, and collections to previous bank declines and bankruptcies, this new program is a natural extension to the innovative loans it offers today.
Founded in 2004, OutOfBankruptcy.com is a privately held full service mortgage brokerage headquartered in San Francisco, CA. Offering a full array of residential and commercial mortgage services, the company was founded based on two solid principles - to develop customers for life and to see them do more with their money. By providing quick debt solutions for families and individuals facing bankruptcy, the company's mission continues. OutOfBankruptcy.com strives to keep the American Dream of financial freedom and home ownership alive for everyone by providing clients with a better mortgage experience. The company's financing expertise further helps clients increase their financial independence through real estate ownership. OutOfBankruptcy.com has helped hundreds with their real estate financing needs and together with its affiliated companies, secured well over $2B in loans during 2004.
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