Amanda Donnelly, Perfection PR
The Las Vegas-based Debt Solutions Service, a Consulting Firm that specializes in reducing or eliminating debt, has devised a new method to help people facing foreclosure.
The strategy, allows the Consulting Firm to coordinate restructuring directly with the investors who hold the mortgage note on the homes, not the banks who service them.
According to Debt Solutions, the Consulting Firm’s success rate in renegotiating loans at current appraisal values or having interest rates reduced by up to six points has been significant (Can amount in hundreds of dollars each month).
A Senior Financial Analyst at Debt Solutions explains that the majority of the American public, the professional community included, doesn’t understand how the system works. “Once a home has been purchased your bank sells the note to an investor. The bank becomes a servicer at that point. Perhaps that’s why people find it so hard to negotiate with the banks. In most cases, it’s actually in their interest to allow the home to be foreclosed upon. They make more money that way.”
The Investor Direct Method cuts out the middle man, and allows the professionals at Debt Solutions Service to negotiate directly with investors. “There’s a small group of people who are involved in this type of investing. Fortunately, when we devised the Direct Method, we already had a number of contacts in place. These are hard contacts to make and very few people would even know how to get in touch with the right individuals. Our team of experts is what sets us apart.”
The Investor Direct Method benefits all the entities involved in the process, according to Huntsman. “The banks win because they continue to service the product. The investors win because they aren’t cheated by someone filing bankruptcy and the homeowner wins because their note is usually reduced significantly and they keep their home,” he said.
**This method was created by Debt Solutions Service.