Wingspan to Negotiate for Homeowners

""Wingspan Portfolio Advisors, LLC"":http://www.WingspanAdvisors.com, a Dallas-based mortgage servicer specializing in highly delinquent loans, has announced a new division focused on helping defaulted borrowers avoid foreclosure. Called ""Foreclosure Resolutions,"" the division leverages Wingspan Portfolio Advisors’ specialized capabilities as problem loan servicers to deal with lenders and their loan servicers on behalf of borrowers and negotiate arrangements that allow people to keep their homes, the company explained.
Steven Horne, CEO of Wingspan Portfolio Advisors, said, ""Our loan resolution specialists are highly experienced in dealing with borrowers on the servicer’s behalf. This is a natural extension of our core competencies, just in reverse - with Foreclosure Resolutions, we go to bat for consumers, working with lenders and servicers to head off foreclosures before it’s too late.""
According to Horne, mortgage lenders and investors are, in many cases, as eager as borrowers to avoid foreclosure, as the wave of mortgage defaults threatens their survival. By working with loan servicers who are inundated with defaults to come up with payment plans that are acceptable, Wingspan is able to help borrowers who desperately want to stay in their homes, Horne said.
Horne continued, ""It is often difficult for borrowers to reach the right people in servicers’ offices to discuss solutions because servicing staffs are overwhelmed with cases these days. We are able to cut through the red tape and bureaucracies to negotiate effectively.
""We also understand borrower motivation extremely well, and when we have a consumer who is desperate to keep their home for the long term, not just trying to buy time, we can suggest realistic alternatives that will resonate with servicers to make it happen,"" Horne explained.
Horne noted that Wingspan Portfolio Advisors is familiar with servicer and investor workout guidelines, an advantage that enables them to work with borrowers to ""prepackage"" workout scenarios that have a better chance of meeting with quick approval from the servicers.
Foreclosure Resolutions is using an advertising campaign to reach out to consumers who are having trouble making mortgage payments, have been denied modifications to their payments, are considering bankruptcy, or who have adjustable rate mortgages with payments that are going up. The company escrows any payments for their services until they have successfully negotiated an agreement with the lender, refunding all of it to borrowers if they are unable to deliver the desired results.
Horne said that Foreclosure Resolutions’ goal is to help create scenarios that will keep renegotiated loans performing as agreed for several years, long enough to eventually achieve full re-performing status as the borrower’s situation improves and the real estate market recovers. ""It’s a two-way street,"" Horne said, ""We’re helping all parties, the borrower, the lender, and their servicer, get where they want to be, safely.""