Facing foreclosure can be a daunting task for lenders who are concerned about their assets. The process is complex, time-consuming, and can take focus away from current customers. If you are a lender without the internal support to complete foreclosures, hiring a foreclosure company is the simplest way to save your business time and money.
The team at Total Lender Solutions have helped hundreds of lenders complete commercial real estate non-judicial foreclosures across seven states for over fifteen years. Below are a few reasons why lenders have come to us over the years.
Benefits of Hiring a Foreclosure Company
As a company that deals with foreclosures in California, Texas, Missouri, Oregon, Nevada, Washington, and Arizona, we see firsthand the daily shifts in the real estate industry. These seven states all are experiencing increased foreclosures, and the busier lenders get, the more likely they are to make costly mistakes.
“Shifts in the market often lead to an increase in foreclosures, and we are seeing that right now. The best way for lenders to manage their properties is to hire a foreclosure company like Total Lenders Solutions and consult our experienced team to get insight on the process.”
– Randy Newman, CEO, Total Lender Solutions
Some other benefits of hiring a foreclosure company include:
Custom Solutions
Foreclosing commercial real estate involves strict procedures that must be followed to a T, every commercial real estate property is different. There may be unique lienholder situations or the property itself may have features about it that make it difficult to foreclosure.
Hiring a foreclosure company means that lenders have an experienced partner available to craft unique solutions and foreclose the property with as few complications as possible.
Timely Foreclosure Process
Hiring a foreclosure company means that another team can handle the process and mitigate delays, freeing your team to focus on their customers.
Bankruptcy, temporary restraining orders, and being unprepared to correctly follow the foreclosure timeline are a few reasons that foreclosures are delayed. A foreclosure company ensures that all documentation is ready and that no errors are made so that the process can be completed in a timely manner.
Compliance
All seven states have strict compliance requirements which must be followed, or lenders leave themselves vulnerable to penalties and lawsuits from both the state and the borrowers. Since each state has different requirements, it can be difficult to find the resources you need.
A foreclosure expert like Total Lender Solutions has decades of familiarity with nonjudicial foreclosure law and stays up to date with changes, meaning you can be assured of staying in compliance when completing the foreclosure process.
Top Foreclosure Company for California, Texas, Missouri, Oregon, Nevada, Washington, and Arizona
Facing foreclosure is a challenging experience, but it’s essential to remember that you don’t have to go through it alone. Hiring a reputable foreclosure company, like Total Lender Solutions, can make a significant difference for your business. Our expertise and experience can create a personalized solution for you, guiding you to a favorable outcome.
If you’re currently dealing with foreclosure, don’t hesitate to contact our team by filling out our contact form.
