Boston, MA (PRWEB) January 16, 2008
ForeclosureHelpShop.com (FHS) announced today the launch of a new service, a reliable resource for delinquent borrowers to obtain information and coaching. FHS provides people with an online portal that explains legal options in simple terms. The company works with FHS members every step of the way to obtain a positive outcome.
Loss mitigation is a costly experience for both lenders and borrowers. FHS lessens the load by improving the efficiency of the loss mitigation process. "We've created a resource for homeowners to use while seeking solutions to financial challenges," said FHS attorney Lennox Chase, Esq. FHS grants access to a program that gives answers to borrowers facing foreclosure.
During the past few years, housing prices rose to unprecedented levels, which created a loan-to-value feedback loop that spiraled out of control. Lenders offered borrowers a variety of loans that layered teaser rates, negative amortization and minimal documentation. As a result, new loan products were created that gave borrowers initially appealing terms that were short-lived. FHS makes every effort to alleviate the impact of the mortgage crisis on lenders and homeowners. An FHS membership includes up-to-date legal information that is designed to save borrowers' homes. "Lenders do not want to become landlords or homeowners. Our team is pleased to be leading the way for providing help to lenders and borrowers," says Chase.
For more information about FHS, visit http://www.foreclosurehelpshop.com.