The primary objective of foreclosure workout services
is to prevent foreclosure and help the homeowner STAY in their
In addition to staying in their home, it avoids a foreclosure
on their credit record, which remains there for many years.
Think of the difficulties that a foreclosure on a credit record
might result for the former homeowner. It just might be harder
to rent an apartment, get a job, obtain credit, buy a car, and
on and on.
The benefits of preventing a foreclosure, however, don’t
solely belong to the homeowner. The lender may save a
significant amount of money by not having to complete the
foreclosure proceeding. Foreclosure workout specialists work to
get the loan back on track, meaning that the homeowner is
making payments again.
Too many distressed homeowners do not take action for a variety
of reasons. It may be denial, or it may be fear, or something
else. If it is from lack of knowledge, then it is unlikely that
the homeowner will act in a proactive manner to get the best
result. This is a financial problem and requires the help of a
financial professional who is familiar with alternatives to
A foreclosure workout specialist works with the homeowner,
assesses the situation, and determines a course of action that
may include one or more alternative to foreclosure. The
homeowner is much better able to make informed decisions when
assisted by someone knowledgeable about the challenges faced by
a homeowner threatened with foreclosure.
Do you know of a distressed homeowner who might be
interested in learning that it may be possible to stay in their
home?? This is the time for Action!