The Good Side of Foreclosures; Is That an Oxymoron?

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Instead of focusing on who caused the foreclosure crisis, Financial Asset Services (FAS) found that by incorporating Corporate Social Responsibility (CSR) practices they could help the community, restore faith in the mortgage industry, and sell their client's bank-owned/REO properties.

The Good Side of Foreclosure

The Default News, publishes articles about the mortgage default business sector.

The Default News ' latest article, "The Good Side of Foreclosure", features how one asset management company incorporated Corporate Social Responsibility (CSR) practices to create a positive, triple-bottom line - helping society, the planet, and their clients the lien holder.

According to the REO Operations Manager of Financial Asset Services Eric Mills, "The reason is simple. Why cause any more problems…. Giving back to the community is the right thing to do".

The Good Side of Foreclosure is an article written for asset management companies, real estate professionals, and those facing foreclosure. It offers suggestions on how each group can successfully work together by incorporating CSR practices.

According to Mr. Mills, people should consider:
1.    How can agents, asset management companies, and the homeowner/occupant cab work together to make the eviction process honorable.
2.    How asset management companies, municipalities, and communities can work together to reduce criminal activity on vacant property.
3.    What can be done t save the silent victims - abandoned animals - from being euthanized?

Mr. Mills points out that "each consideration is vastly different. Yet each viewpoint is equally affected a foreclosure".

Even though asset management companies are not responsible for the foreclosure crisis, it is refreshing to know some take responsibility in helping those most affected by foreclosures: the community, the planet, and abandoned animals.

Wouldn't it be great if all companies within the mortgage default business sector incorporated CSR practices? If so, we'd see less waste in our landfills. Animals would get a second chance at life. Homeowners might begin trusting people in the real estate industries once again. That'd be nice.

To read "The Good Side of Foreclosures" go to

About The Default News:
The Default News publishes a monthly report on various trends and issues within the mortgage default business sector. Additionally, posts foreclosure resources and bank-owned/REO property listings.

About Financial Asset Services:
Financial Asset Services is a national asset management company specializing in providing first class asset management, property disposition, and valuation services for mortgage companies and financial institutions. With over 25 years of proven real estate expertise and mortgage banking experience, Financial Asset Services is recognized as a leader in the Asset Management Industry.
To learn more, visit:


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Annemarie du LeBohn
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