Text Size: A
A
A
A
Glenn Bodnar, left, and Linda Millar are working to Save America Homes by saving families from foreclosure. Contributed photo
Through working to save local homes from foreclosure, Save America Homes is also helping save communities across Catoosa, Walker and Hamilton counties, according to company owner and president Jay Mace.
“It helps the community because every time a foreclosure happens it hurts the value in the rest of the neighborhood, so everybody is losing equity every time a house forecloses in their neighborhood,” Mace said.
The Ringgold-based Save America Homes is working to keep the number of houses lost to mounting, unaffordable bills to a minimum.
“When someone has fallen behind they close up into their turtle shell, but they have options,” said operations manager Linda Millar. “Most people don’t know it. People just sit in their houses and think, ‘What am I going to do?’ If they don’t hear about us or someone like us they lose everything.”
She and the rest of the staff work with clients with proven hardships, giving them the option of loan modifications or short sales. Such informational, decision-making consultations are free.
“If people come to us before they’ve moved out, nine out of 10 times, depending on the situation, we can save their home and have them stay in it and have the payment reduced to where it’s affordable,” said Millar.
Save America Homes is at 330 Battlefield Circle. Call (423) 635-0809 or visit the Save America Homes Web site for more information.
She noted that the record for the company’s loan modifications, which it can perform nationwide, is a 56 percent rate reduction.
“We can help people even in bankruptcy,” said Glenn Bodnar, of Crye-Leike Realtors in East Brainerd, an investor client with Save America Homes.
In the case of short sales, which Millar’s company performs locally, it works to settle the debt with the lender, agreeing to perform any necessary work to the home in order to bring a fair price on the open market. As such, Bodnar said there are lots of good deals to be had for those who can afford them.
“The worst thing for a bank is to sell a house at the courthouse steps,” he said. “They lose their shirt. Banks want to work with us.”
He pointed out that this option carries less of a penalty on credit reports than a foreclosure, which stays listed for 10 years.
“The worst thing that can ever happen to someone is foreclosure,” he said. “Because of what we’re doing for them they’re going to be able to buy another house whereas before it would’ve been pretty iffy.”
According to Mace, the company stops an average 15 foreclosures each month across the three counties through both of these methods. It is currently working with approximately 50 clients.
“He’ll (Mace) try anything pretty much if he thinks it can help people,” Millar said. “The hardest problem we have is with people. They don’t believe it’s real.”
del.icio.us
digg
Furl
Spurl
YahooMyWeb
co.mments
Ma.gnolia
De.lirio.us
blogmarks
BlinkList
NewsVine
scuttle
Fark
Shadows
Comments
Post a comment
Commenting requires registration.