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Industry leaders have stated … “the impact and aftershocks of the nonprime mortgage market correction have been devastating.”


PSG has met the demands for homeownership preservation to growing numbers of borrowers on the brink of foreclosure by effectively negotiating short sales and helping them understand loan modifications.


This is NOT an easy business.  Laws change daily, each lender has his own "personality" and needs.  The interface with banks can be extremely frustrating as they are heavily overloaded and most have entry level "phone answers" with little incentive to help you resolve your issue or even save money by saving time and resolving situations quickly.  PSG understands this and has a staff hardened to the fact that they are likely to need to fax material 5 times before the lender's staff acknowledges receiving it.  Invariably, there is a labrinth of phone system prompts to learn and manage to get to "the right place" in order to settle a short sale as rapidly as possible (thus saving buyers, sellers and even the lender money).


Other important factors: PSG does not get any compensation until and unless the short sale is successful.  You may decide it is too much trouble to tackle today, you may give up or put off the hassles for a long time, thus jeopardizing your position and ultimate outcome.  Not PSG.  Time is crucial and we will keep pressing for resolution.


Another factor is that of a third party.  This function is beneficial for diplomacy, buffering you from the harsh other side, adding professional expertise which is acknowledged and appreciated by lenders.  Basically, those many things which an individual cannot easily do by himself.  [For example, think of how you would react to answers you get from a seller taking you through his house and how you react to answers given by a realtor.  The realtor is bound by ethics to be honest with you, and you know this.  Regardless of how honest the seller is, most people react much more positively to the trustworthy representative.]  Preferred Servicing Group is your trustworthy representative which the lender knows will be there tomorrow and the next day, so an honest relationship makes sense, more so than it would with a home owner in this one-time situation, who never expects to talk with this lender again.


Feel free to ask questions about the process - to tackle it yourself.  PSG is happy to answer those questions.  We know what is involved and because it rarely costs the homeowner anything to use PSG, we feel that the more you know, the more you will want to leave your problems at the doorstep of the experts, Preferred Servicing Group.  After all, wouldn't it be nice to "outsource" the hard part the same way that the pro's do?  And the cost for this?  Usually no cost to you.




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