New Mexico Property Owners Now Have a Proven Way to Save Their Residential and Commercial Properties from Foreclosure
June 06, 2006 (PRLEAP.COM) Business NewsColorado Springs, CO – Many counties in New Mexico are experiencing two to five times the national average for foreclosures according to a recent RealtyTrac report. The increase in existing and new home inventories is making the quick sale of homes in trouble extremely difficult.
“The increase in interest rates for adjustable rate mortgages has caught a lot of people by surprise. When someone sees their payments go up 50% to 75% in a little over a year, that is not something very many people plan for” commented Lance Brown. “The residential or commercial property owner has to decide very quickly how to avoid foreclosure if they are starting to miss mortgage payments” continued Lance.
Blue River Foreclosure Prevention Services is now offering distressed residential and commercial property owners alternatives to foreclosure and its tragic consequences.
Loss mitigation is the primary method used to save the property from foreclosure. Loss mitigation is a process defined by HUD for FHA and VA loans and adopted by many loan providers from traditional lenders. The loss mitigation specialist can use special forbearance, mortgage modification, partial claim and several other methods to help the property owner return to good standing with the lender.
Blue River Foreclosure Prevention services is now serving the following counties in New Mexico: Bernalillo, Catron, Chaves, Cibola, Colfax, Curry, De Baca, Doña Ana, Eddy, Grant, Guadalupe, Harding, Hidalgo, Lea, Lincoln, Los Alamos, Luna, McKinley, Mora, Otero, Quay, Rio Arriba, Roosevelt, San Juan, San Miguel, Sandoval, Santa Fe, Sierra, Socorro, Taos, Torrance, Union, Valencia
“There really are very few reasons to ever let a foreclosure go to completion. Blue River Foreclosure Prevention Services has programs to stop the foreclosure in most cases” commented Lance. “A foreclosure judgment is much like a bankruptcy and will follow the property owner for many years” continued Lance.
About Blue River Foreclosure Prevention Services
Blue River Foreclosure Prevention Services help New Mexico homeowners and business owners save their properties from foreclosure using primarily loss mitigation and as a fall-back property purchase, lease buy-backs, foreclosure loans and short sales. Blue River Foreclosure Prevention Services does not originate or broker loans, but uses a proven network of service providers. Blue River Foreclosure Prevention Services is an independent representative of United States Financial Group.
For more information about these developments, please contact Lance Brown directly at 866-387-2574 or email@example.com.