Program Launched for 48-Hour Short Sale Decisions

March 3, 2010 - PRLog -- Scottsdale, Ariz.—Loan Resolution Corporation announced it is implementing a Preapproved Short Sale Program to help the 8 million homeowners who are currently delinquent on their mortgages.

To prepare for this, Loan Resolution Corporation has significantly increased staff to handle the huge volume, and become SAS 70 Type II Certified to ensure that information is kept secure. Loan Resolution Corporation has been a leading provider of short sale services since 2007.

“Pre-approved short sales will revolutionize the industry. Instead of home owners and real estate agents waiting two to four months to receive a decision on a short sale, they could get one within 48 hours.”

“This gigantic shadow inventory is only the tip of the iceberg,” said Travis Hamel Olsen, chief operating officer of Loan Resolution Corporation. “Every month, an additional 250,000 home owners become delinquent and home values continue to drop across the country. With this many people needing to sell their underwater property, 2010 is the Year of the Short Sale.”

With eighty full-time employees, the Scottsdale-based company is one of the few national companies with the capacity, technology and security systems to complete end-to-end short sales. LRC, one of the fastest-growing companies in Arizona, has applied its in-depth understanding of short sales to develop the industry’s most innovative Pre-Foreclosure Asset Management software in operation.

In February, Standard & Poor’s estimated a thirty-three-month overhang of shadow inventory of REO properties worth more than $400 billion. Standard & Poor’s estimates have been deemed conservative by most real estate experts.

“The government and big lenders are realizing that the best way to move billions of dollars worth of real estate is through short sales,” added Olsen.

For additional information about Loan Resolution Corporation, please visit: www.LoanResolution.com.

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About Loan Resolution Corporation:

Founded in 2005, Scottsdale-based Loan Resolution Corporation is the nation’s leading national Pre-foreclosure Asset Manager. The company partners with mortgage servicers to provide cutting-edge, scalable solutions that reduce the cost of loss mitigation departments and increase resolutions. LRC offers a variety of default services, with short sales being its core competency. LRC pioneered the Proactive Approach to Short Sales by being the first service provider to implement such services, while also having expertise in the government’s new short sale and deed-in-lieu program, Home Affordability Foreclosure Alternatives (HAFA).

For additional information about Loan Resolution Corporation, please visit: www.LoanResolution.com or call (480) 455-3506.