Bridging The Gap Program
No Cost Initiative Aims to Reduce Property Foreclosures
The Short Sale Specialist Network recently released information on a new program, Bridging the Gap, which sets out to connect homeowners in financial hardship with those who are best suited to assist them. The borrower outreach program is at no cost to servicers and offers incentives to homeowners to take action through a short sale rather than allowing their home to go into foreclosure.
"Over 70% of delinquent borrowers are not currently involved in any type of workout program. Bridging the Gap reaches out to these borrowers who would not seek assistance on their own, aiming to dramatically alter that disturbing statistic for the better," says Director of Operations, Mike Linkenauger. Through the program, participating lenders send delinquent borrowers’ information to the Short Sale Specialist Network via a secure online portal. The Network then assigns the referral to a local short sale agent who will contact the borrower through a multi-layered communication campaign, including visits to the subject property with borrower incentive letters. Once the borrower responds positively to the promotion, the traditional short sale process can commence.
For years, the Short Sale Specialist Network has been connecting homeowners in hardship with their network of top local short sale specialists, making them the only established network of short sale Realtors® in the country. When a borrower contacts the Network for short sale help, they are quickly informed that the entire short sale process will cost them nothing.
The Short Sale Specialist Network is only compensated by a brokerage referral fee at the transaction’s closing; therefore, the highest of ethical standards and service-level requirements are placed on their agents. Linkenauger comments, “Over the years, we’ve screened out poorly performing agents, resulting in an expanded network of highly qualified short sale experts to utilize.”
With an agent network of over 6,000 members, the Short Sale Specialist Network plans to put their nationwide expansion of Realtors to good use by “Bridging the Gap” between borrowers and lenders. The program’s Presentation Guide explains, “By combining our top-notch short sale agents, no cost services, and cutting edge technology, and customizing all of it to meet lenders’ unique servicing requirements; we are able to assist in streamlining the processing and liquidation of defaulting assets. This synergy will result in more short sales closed and fewer seized assets for our lender partners.”
For a presentation guide and complete program details, visit www.BridgingTheGapProgram.com
The Bridging the Gap Program is fully compliant with the Fair Debt Collection Practices Act (FDCPA)