Mortgage Insiders Change Sides, Help Consumers Fight Foreclosures
A group of mortgage industry executives and lawyers have formed a new company to offer assistance to homeowners facing foreclosure due to the mortgage industry collapse. Using their knowledge of mortgages and their relationship with lenders they are helping borrowers keep their homes, and work out new loan arrangements to avoid foreclosure, bankruptcy and financial ruin.
The company, which is known as Mortgage Help Now, is affiliated with The Liput Group, a group of professional consulting companies operated by former mortgage industry executives and bank lawyers that normally provides advice to lenders and Wall Street on sophisticated bank issues such as loss mitigation, investor relationships, and regulatory matters.
Andrew Liput, The Liput Group's president, and a corporate and banking lawyer for more than twenty years said, "our staff has decided to take our expertise, and our established relationships with mortgage banks, and use it to help consumers faced with foreclosure."
In light of the highly publicized collapse of the sub-prime mortgage market, and the resulting rise in foreclosures from interest only and teaser rate adjustable loans, thousands of consumers are facing serious financial consequences and need help.
Liput says that "the government can only do so much," and adds, "we have the experience and the contacts to evaluate a consumer's personal financial situation and deal with their lender and loan servicing company on an even playing field."
Rather than pay lawyers high hourly fees to learn about the mortgage business and try and stop a foreclosure, Liput feels using mortgage insiders will be less expensive and get faster, better results for homeowners. "Lawyers are not trained in the highly specialized mortgage industry, so they charge a lot of money to review documents and get up to speed. We know the industry, the market, the lenders, and the methods to fight foreclosure and, whenever possible, save a consumers home. When that is not possible, we know the language and the techniques to minimize the financial consequences. We also do it for a lot less, recognizing these consumers are facing tough money problems."
Mortgage Help Now is based in New Jersey but can handle mortgage foreclosure and default problems nationwide. For more information, you can reach them toll free at 1-888-424-3728 or you can visit their web site at www.liputgroup.com.