HomeTelos LEO Program Achieves Market Success as Foreclosure Alternative
Released
on: October 27, 2009, 4:48 am
Author: HomeTelos,
L.P.
Industry: Real
Estate
US-TX,
Dallas, October 27, 2009 - HomeTelos Loan Exit Option (LEO) program
has demonstrated market success as an effective approach in avoiding
foreclosure for borrowers, investors, and mortgage servicers.
The LEO pre-foreclosure
home sale program is faster and has significantly higher closing
success rates than traditional short-selling programs. The HomeTelos
LEO system aligns the interests of borrowers, servicers and other
interested parties through its unique workflow management system,
which qualifies properties for pre-foreclosure sale. When qualified,
LEO then facilitates property
sales through its dynamic online marketplace that brings motivated
sellers & buyers together. Mortgage servicers can better help
borrowers avoid foreclosure through HomeTelos’ integrated
and streamlined LEO system and processes. Costly, frustrating,
and ultimately unsuccessful sales efforts are avoided without
heavy staff demands being imposed on servicing operations.
Since
LEO’s launch last year, LEO properties upon listing have
averaged 37 days on market, 4 offers per property and sales prices
that average 96 percent of list price. A key to this success is
real-time communication between real
estate brokers, servicers and investors, allowing LEO to average
only 3 days from buyer’s offer submission to servicer’s
acceptance or rejection. According to a Florida borrower, “we
were getting nowhere, losing our job then our home. We appreciated
the quick action in getting our short sale resolved in this market”.
LEO provides loan servicers with assurance that the property is
widely marketed, offers represent real market value and that closing
issues are resolved in advance. Borrowers avoid foreclosure
proceedings, critically damaged credit ratings and the threat
of lender recourse for loan payment shortfalls.
According
to HomeTelos President Stephen Polley, “LEO’s success
is driven by its breakthrough combination of innovative technology
and re-engineered workflow processes for achieving the combined
critical objectives of servicers, borrowers and other interested
parties. LEO provides a way for families under financial stress
to have a mortgage option that allows them to relocate with dignity.”
The Loan Exit Option (LEO) system
process is patent pending.
About
HomeTelos, L.P.: HomeTelos is headquartered in Dallas,
Texas and specializes in the development and support of web-based
solutions which support the management and marketing of real estate
assets, including pre-foreclosures and foreclosures. For more
information, visit www.hometelos.com
or call (888) 676-9200.
Contact Details: 14651 Dallas Parkway, Suite
414
Dallas, TX 75254
(888) 676-9200 phone
(972) 233-5559 fax
www.hometelos.com
2010
