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Follow on Google News | Blumenkehl Sees Borrowers Slowing Foreclosure ProcessAccording to Charles Blumenkehl, a percentage of long-delinquent borrowers are taking advantage of every opportunity they can to extend the mortgage foreclosure process.
By: Charles Blumenkehl Blumnkehl continued, “We’re not talking about the homeowner who has no assets, or are unemployed. We are seeing borrowers who are trying to hide their assets, some of which are substantial, file multiple bankruptcies and frivolous motions with the courts, all of which are designed to stall the process so they can continue to save and hide their money at their lenders expense.” “The net result,” according to Blumenkehl, “is that the lenders have to spend more money carrying these bad loans and impacting the overall economic recovery by maintaining high leverages on the books of the lenders while lowering the value and increasing the carry of their assets.” Blumenkehl is convinced that with the already overwhelming burden on the court systems to assist the lenders in rightfully regaining their properties, this adds to the courts agenda, costing taxpayers more money while extending the ability of the country to recover from the economic meltdown and high unemployment rates. “Until these ‘deadbeats’ Blue Asset Management was founded by Charles Blumenkehl in 2008 to leverage opportunities resultant from the mortgage crisis and to assist their borrowers and lenders in monetizing their assets and being given the opportunity to start again. For more information about Blue Asset Management LLC or Charles Blumenkehl log on to the company website at www.blueassetmanagementllc or call the company directly at 973 835-1400. # # # Buyer of performing and non performing residential and commercial first mortgages, distressed real estate and investment properties in New Jersey End
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