BGS3 Facilitates the Short Sale Process Between the Lender and the Homeowner

BGS3 continues to be one of the fastest growing short sale and loss-mitigation companies in the country. BGS3's unique approach, under Program 3648 (a national outreach program that connects certified real estate agents with distressed homeowners), assists both the homeowner in default and the depleted lender.

Jonathan Bowman, Co-founder of BGS3, states, "Many want to pit the homeowner against the bank and the bank against the homeowner. The hard truth is, in a pre-foreclosure situation, both parties are suffering. Both the lender and the homeowner largely benefit from a neutral third party facilitating a cooperative effort that rescues the homeowner from foreclosure and the lender from financial loss.''

Mortgage lenders lose thousands of dollars when a homeowner stops making their mortgage payment. These holding costs continue to build up until the house is sold. As a result, when it becomes clear that a homeowner can no longer make his or her payments (or qualify for a loan modification or forbearance plan), most lenders are willing to settle the mortgage debt for less than amount owed provided the proper process, documentation, and criteria are completed; this is known as a short sale.

BGS3 facilitates the short sale process between the lender and homeowner, and the lenders are saved significant amounts of money in wasted-holding costs.

In order for most lenders to consider a short sale, there must be a contract from a buyer to purchase the house. With BGS3, lenders don't have to worry about low-ball offers from investors or "phantom buyers'' used just to kick off a short sale negotiation with the lender.

"Bank loss mitigators are overloaded,” says Woods Davis, Vice President of Operations at BGS3. “They don't have time to waste on bogus offers or incomplete paperwork. Our unwavering commitment is that every short sale packet we send to a lender is in perfect order and includes a true retail contract from a genuine pre-approved buyer. We use the best real estate agents we can find in every market to sell each of our houses for the highest retail price possible.''

Joe Arriaga, who has been a loss mitigation manager for some of the largest banks in the country, says BGS3 backs up what they say.

"BGS3 is by far the best short sale and loss mitigation company I've come across. They do what they say they're going to do. They're honest and we get the deals done.''

BGS3 is serious about its commitment to help both the homeowner and the lender simultaneously. Co-founder Jeremy Bowman states, “In order for our model to work we must protect that trust, on both fronts, at all costs. We require our employees and agents in the field to be strict facilitators of that trust.''

VIDEO: http://www.bgs3.com/realtors.html