BGS3 is Fighting for Homeowners Facing Foreclosure
Homeowners Now Have a Place to Turn for Free Help
LOUISVILLE, Ky., Feb. 5, 2008 (PRIME NEWSWIRE) -- BGS3, the National Processing Center for Short Sales, has garnered the help of real estate professionals who are determined to do their part to proactively address the current real estate inventory problems nationwide. Co-founder Kenneth S. Lewis states, "With the sub-prime mortgage crisis creating record numbers of foreclosures and inventory surplus problems in most real estate markets nationwide, a concerted effort has been initiated to breathe life back into the housing market. After several lackluster proposals regarding this historic real estate tumble, a model has finally come forth that creates a win for all parties involved, even the mortgage company. We've tried to take money out of the equation as much as possible. There is a clear path for the economy to come back to life. We just need more people willing to keep their hands out of the cookie jar. Economic stimulus from the real estate sector must come soon."
It all starts with a win for the homeowner. At this point, the argument as to whether the homeowner got in over their head, or their Loan Officer tried to pull the wool over their eyes, is irrelevant. The landslide still exists and somebody has got to clear the road. The homeowner behind on mortgage payments can now more easily understand their rights and options. They can get free help from the Certified Program Representative (CPR) for BGS3 to do a forbearance plan or a loan modification to keep their home. Or, if they decide that a short sale is in their best interest, the CPR who is a licensed real estate professional can list their home at a price that it can actually sell regardless of the loan balance, still at no cost to the homeowner. BGS3 then processes the real estate short sale and negotiates the debt with the mortgage company for a nominal processing fee, which the mortgage company gladly pays for the help in clearing their books.
Co-founder Jeremy T. Bowman states, "The homeowner wins by stopping the public foreclosure that can be more detrimental to their credit than a bankruptcy. The mortgage company wins by either bringing the payments current, or in the case of the short sale, getting rid of a property that they would have to add to their portfolio of non-performing assets where the costs soar even higher. The Certified Program Representative wins in the event that the mortgage company will pay a commission for the home to be sold sooner than later. The economy wins by the dramatic decrease in real estate inventory plaguing the market. Our mission is to halt the foreclosure process for thousands of homeowners in the oncoming weeks and months. With the big picture in mind, it was critical to be able to claim a winner on every one of those fronts."
CONTACT: BGS3 Kenneth S. Lewis, Co-founder Office, 1.502.266.5530 1.800.915.1988 firstname.lastname@example.org http://www.primenewswire.com/newsroom/ctr?d=135718&u=http://www.bgs3.com