Home Owners Facing Foreclosure Have Options When Struggling to Keep Their Home

Westchester, IL August 17, 2004 –- Lord & Lesniewicz announced today that it is launching a campaign throughout the Midwest to educate consumers on their options when facing home foreclosure and allow them to keep their homes.

"After seeing friends go through the pain and anguish of mortgage foreclosure, we decided that there had to be a better way,' said Cherise Lesniewicz, Vice-President of Lord & Lesniewicz. We searched various options and discovered a company called Freedom Foreclosure Prevention Services (FFPS) and US Loss Mitigation (USLM). After completing our due diligence, we discovered that FFPS and USLM have the answers for people in foreclosure that allow them to keep their homes and save their equity.

People facing foreclosure may investigate any one of several options before losing their home in a Sheriff's Sale. These include: direct negotiation; sale, bankruptcy; refinancing or lines of credit. Depending on the home owner's situation, some options are more favorable to the home owner than others. The home owner, though, needs to know all the options available and the consequences of each choice.

Certainly most home owners who wish to keep their home make the effort to talk with the lender and the collection department. It may appear that any offers from the lender to correct the delinquency are fortunate. Unfortunately, such arrangements may not take into account the complete borrower's situation – income, expenses and the main reason for the delinquency. When the home owner cannot keep the arrangements, they are back where they started – only deeper in debt and with more legal or bank fees as well. Home owners are scared about losing their home and agree to plans and terms that really are not in their best interest.

Selling before foreclosure sounds good – but in today's market, a quick sale may mean selling a property for significantly less than market value and only enough to pay off the existing mortgage. All equity is gone and not much left for starting over. Refinancing or additional lines of credit is certainly a choice but choosing the correct loan option along with the attendant closing costs does not necessarily make this the solution for home owners either. Certainly home owners consider bankruptcy too – and that is definitely a last resort since often times a bankruptcy only prolongs the inevitable foreclosure process."

Mrs. Lesniewicz continued: "We've also heard the same horror stories as others regarding companies that take money before the services are rendered. USLM puts all monies in an escrow account so that the lender knows the home owner is able to meet their obligations today and provides a money back guarantee of services. This, we felt, was truly in the best interests of the home owner desperately wanting to save their home, their equity and their credit."

USLM has been in the business of assisting home owners facing foreclosure by negotiating with the lender, providing access to mortgage assistance programs and mortgage counseling for the past 19 years. With thousands of satisfied clients nationwide, USLM has a proven track record with helping home owners successfully keep their home who qualify for their assistance programs.

As part of their Midwest education program, Lord & Lesniewicz has launched their site: http://www.SavingHomesUSA.com to provide free mortgage consultations. For those without Internet access, they provide a toll-free number, 1-800-680-6476, to obtain free review of any home owner's situation.

"We are very excited to be associated with an organization that allows the home owner to keep their home and get their finances back on track," said Lesniewicz. "There is no greater satisfaction at the end of the day then hearing ‘Thank you for saving my home.'"

Lord & Lesniewicz, located in Westchester, IL, is an independent agent of Freedom Foreclosure Prevention Services and US Loss Mitigation. Mrs. Lesniewicz is available for speaking to groups and organizations that are interested in assisting their members regarding foreclosure. She has also written a series of short articles regarding the strategies and pitfalls to homeowners in foreclosure. To receive a listing of article topics or arrange for a presentation, please contact her at cherise@savinghomesusa.com To view additional information, visit the SavingHomesUSA site at www.SavingHomesUSA.com For more information on SavingHomesUSA contact Cherise Lesniewicz at 708-466-5233 or email info@savinghomesusa.com





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