Today, confidence in the financial services sector remains deteriorated, leaving many homeowners feeling that their loan servicers are unsympathetic to their current hardship. Additionally, many homeowners are plagued by the negative psychological effects of their circumstances, which only immobilizes them further
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Irvine, CA (PRWEB) October 1, 2009
FreeLoanWorkout.com, Inc., ("FLW") an Irvine based Internet Company, is pleased to announce its release of http://www.freeloanworkout.com, effective Saturday, October 3, 2009.
The website creates an internet bridge between homeowners and their mortgage servicers, provides web based education modules, and using an automated underwriting engine, processes a homeowner's loan modification request. The education modules, developed by Mortgage Workout Center ("MWC"), a vital partner in this project, provide a wide range mortgage and housing related education segments. The service is free of charge to homeowners and participating financial institutions. Even if a homeowner's mortgage servicer does not participate, the website will still make a modification eligibility determination, process the homeowner's application, and allow the homeowner to print all required forms to submit directly to their servicer - all free of charge.
FLW specifically designed the free web service to assist homeowners in determining eligibility for specific loan workout programs available to them based on their loan type. The applicable programs include, but are not limited to, the FDIC's Loan Modification Program ("Mod in a Box"), Obama Administration's Making Home Affordable Program, Home Affordable Modification Program, Home Affordable Refinance, and Freddie Mac Relief Refinance Mortgage.
The result of this new modification approach is an important step for homeowners. Understanding their options will re-establish hope, give them empowerment, and freedom during their time of hardship. The foreclosure crisis has placed a significant strain on our economy. One of the most important components to recovery involved the stabilization of the housing market and homeowner confidence, both with go hand-in-hand. Empowering homeowners with the information that they need to make informed decisions, based on tangible choices, will give homeowners a greater sense of control over their current financial standing.
"Today, confidence in the financial services sector remains deteriorated, leaving many homeowners feeling that their loan servicers are unsympathetic to their current hardship. Additionally, many homeowners are plagued by the negative psychological effects of their circumstances, which only immobilizes them further", said John Trinh, CEO of FLW. "FreeLoanWorkout.com is an important step towards our nation's long-term efforts to address the current foreclosure crisis and establishing a new sense of community."
FreeLoanWorkout.com (FLW) provides online rules base decisioning targeted to the residential mortgage industry. FLW custom web portal allows homeowners to determine their eligibility for government assistance programs such as Making Home Affordable. Homeowners can easily access and generate investor specific forms and requirements necessary in order to complete an application for a loan workout. FreeLoanWorkout.com is a free service. For more information, contact John Trinh (949) 209-6981 or visit http://www.freeloanworkout.com. Members of the Press may demo the site prior to its release. For more information email firstname.lastname@example.org.
Mortgage Workout Center (MWC) provides Internet video learning solutions targeted to the financial services industry. The MWC flagship product is the "Interactive Video Solution" (IVS) which allows clients to quickly deploy up to the minute educational video information to its customers through their existing website. Completely branded and customized solutions can be deployed in days, allowing MWC clients the ability to better educate their customers through the Internet. For more information, contact Bob Sullivan 954-325-2102 or visit http://www.mortgageworkoutcenter.com.