Woodland Hills, CA (PRWEB) August 25, 2007
Asset Foreclosure Services, Inc. (assetforeclosure.com) has announced the inception of their new "Lender Borrower Solution Unit," which focuses on helping large lenders provide alternate foreclosure solutions to delinquent borrowers. This department is headed by Kelli Espinoza, Sr. Vice President. With her 27 years of experience, Kelli will be proactive in working with lenders to get borrowers' attention, trying to address their financial hardship before it is too late. "In our experience, we have found that many troubled borrowers blame their lenders for their current situation, and are more comfortable speaking with us in an advisory capacity," states Espinoza.
Asset Foreclosure Services ("AFS") sends a letter to borrowers in the early stages of delinquency, and, upon direction from the lender, directly follows up with courtesy calls informing them of the lenders intent for foreclose. "Early detection can resolve the majority of cases," adds Espinoza, "We aim to save homeowners' properties, while at the same time saving lenders the headache and expenses associated with post-foreclosure." The Lender Borrower Solution Unit features specialists versed in loss mitigation alternatives including forbearance agreements, modifications, and short sales. "Notices of Default in the state of California alone totaled 54,000 this past quarter; this could equate to billions of lost dollars for lenders."
AFS' daily contact with nationwide lenders allows them to effectively communicate, advising clients on how to realize the potential cost savings, and keeping happy borrowers via loss mitigation solutions. "We can think outside of the box and come up with a real solution as long as the lender and the borrower have this common goal," says Jerry Roumm, Sr. Vice President of Marketing. "Customer education is what sets us apart from other trustee companies." Ward Allen, who runs AFS' offices in Atlanta, Georgia, added, "Knowing that a foreclosure company can be a friend makes a major difference in our environment. We are well aware of the borrowers' emotions involved, as well as the lenders' bottom line. We show empathy for both parties and come to a win win resolution."
The Company is also taking additional steps to get their message across. AFS, in conjunction with Fidelity Title, hosts several default information seminars each year to educate large nationwide lenders. At their most recent conference, AFS announced the need for lenders to be more proactive and take the initiative to help borrowers avoid foreclosure.
Asset Foreclosure Services, Inc., headquartered in Southern California, features a centralized approach, allowing them to specialize in a wide range of default servicing solutions and support to meet the needs of a diversified clientele including servicers, sub-servicers, banks, and private investors. The company offers nationwide in-house foreclosure, reconveyance, post foreclosure services and loss mitigation efforts.