Milwaukee Consortium Focuses On Loss Mit

Posted by Orb Staff on September 16, 2008 No Comments
Categories : Mortgage Servicing

A consortium of local Milwaukee attorneys, real estate agents, homeownership counselors and loss mitigation counselors constitute the newly formed Wisconsin Loss Mitigation agency, which offers alternatives for homeowners in the state who wish to avoid foreclosure on their properties.

Services offered by Wisconsin Loss Mitigation employ a comprehensive approach towards loss mitigation and homeownership retention by including homeownership counseling, foreclosure prevention and sales-terms negotiation, in addition to loan modification.

"The rate of foreclosures in the Milwaukee metro alone – a 56 percent increase from the same period last year according to the mayor's office – makes the inability of nonprofit agencies to provide homeowners with a range of solutions beyond loan modification a troubling reality," states Nic Quiles III, a principal and partner of Wisconsin Loss Mitigation. "Our organization fills this service void by offering a comprehensive set of services."

The agency's aim is to minimize the foreclosure rates in the Milwaukee area by offering solutions beyond loan modification, and to mitigate loss for homeowners for whom there is no other recourse. The legal and real estate resources available to Wisconsin Loss Mitigation through the agency's partnerships provides the company the ability to negotiate favorable terms for homeowners, whether it be loan modification or arrangement of partial claims to prevent foreclosure, or loss mitigation through the execution of short sales and deeds in lieu of foreclosure.

The agency also offers financial assistance and case management services to Wisconsin residents facing foreclosure due to a temporary financial crisis.

SOURCE: Wisconsin Loss Mitigation

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