Wallace Real Estate Solutions
Wallace Real Estate Solutions is a real estate and mortgage advisory company that assists lenders and mortgage servicers in streamlining the loss mitigation process. By being the point of contact for the servicer, and using our years of experience in the mortgage banking and title insurance industries, we can quickly determine the best course of action for both the lender and borrower.
Loan Modification
If we determine based on the qualification of the borrowers ability to pay, that a loan modification plan is the best course of action, we would put together a proposal that is affordable , but also maximizes principal retention to the lender.
Short Sale
If we determine that a borrower would not be able to afford a reasonable modification plan and has negative equity in the property, we would propose that the property be put up for a short sale at fair market value. In this case a short sale, while the house is still occupied would probably yield a higher sales price and save money on maintenance. We would also assist the borrowers of their options and prequalify any new prospective buyers. We would make sure that all proposed transactions would be arms length.
Lender Owned Real Estate
We would work with the lender’s real estate brokers to make sure any new potential buyers are prequalified. We would also offer suggestions on how to make the properties ” mortgage financing eligible” to maximize resale value.
Maximize Revenue, Minimize Risk
Our expertise in the mortgage lending, servicing, and foreclosure process, offers lenders the opportunity to access years of expertise, without incurring fixed overhead cost. Contact us today so we can develop a plan to manage your loss mitigation risks.