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Bank Negotiations

Bank foreclosures continue to hinder the collection of unpaid assessments in many communities. We recognized the burden this problem was placing on our association clients and quickly took action to develop a solution.

 

THE PROBLEM:  If a bank foreclosure occurs prior to the Association’s foreclosure, you may lose your claim on the delinquent amount from the date the account became delinquent up to the date of the bank’s foreclosure. Banks typically allow the account to remain delinquent until they find a new buyer and want to transfer the property. This unnecessary delay can have a big impact on association cash-flow, especially in communities with multiple foreclosed properties.

 

OUR SOLUTION: Equity Experts implements our proven methods to establish a relationship with the Bank and recover association funds as quickly as possible. Additionally, we work to ensure maximum recovery of delinquent assessments owed to the Association. Our unique approach can generate significantly increased recovery by resolving accounts previously thought unrecoverable.  (See Also: Unsecured Debt Collection)

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