(openPR) - (Atlanta, Georgia) November 27, 2007 -- Ransom Enterprizes, LLC a national leader in real estate foreclosure consulting and training, announced today that more major metropolitan areas need foreclosure consulting businesses and properly trained foreclosure consulting specialists. The firm stressed that the impact from foreclosures is a tremendous burden on an economy and metro areas need to make sure that they have proper resources in place to help individuals in foreclosure crisis situations.
A special report was prepared by Global Insight, a forecasting and consulting firm for the U.S. Conference of Mayors. Which the report was released prior to a meeting among mayors from across the nation held in Detroit. The purpose was to find a solution to address the nation’s housing crisis by creating policy recommendations.
The report revealed the bad news and with a solution to combat the problem. In the documentation the report said it projects that property values will decline by $1.2 trillion in 2008, stressing that this is due in part to the foreclosure crisis, and with drops in home prices across the U.S. only averaging at 7%. Identifying that loss of property, sales, and real estate transfer taxes would hurt local and state governments. Importantly, the report noted the traumatic impact foreclosures have caused to some of the largest financial institutions, thriving neighborhoods, and said “it’s not over yet.” The report went onto estimate that the U.S. gross domestic product growth in 2008 will only be at 1.9%, arriving at an average of about $166 billion, or 1% point, mortgage problems causing a lower result. Relating that GDP, which is the value of goods and services produced is considered the country’s best barometer of economic fitness.
“The foreclosure crisis is a continued madness” Kyle Ransom, President of Ransom Enterprizes, LLC. “Foreclosure consulting businesses are a necessary demand in all major metro areas.”
Good news solutions from the report was that it stressed homeowners, banks, holders of mortgage-backed securities, and loan servicers could work together and ease economic effects. Encouraging agreeing to new payment terms on loans, highlighting that this could make the difference between a family keeping a home or losing it to foreclosure.
According to Kyle Ransom, President of Ransom Enterprizes, LLC foreclosure consulting businesses are needed to serve as a middle man between mortgage companies and banks to represent homeowners to stop their foreclosures. Stressing that often times people who are in pre foreclosure situations are embarrassed and need assistance with completing forms and paperwork to stop their foreclosures. A Foreclosure Consulting Specialist provides the guidance to help homeowners stop foreclosures by working directly with mortgage companies and banks while representing the homeowner. Also addressing that foreclosure consulting businesses are not designed to have homeowners sign over their property deeds but only to assist them with solutions to keep their homes by working with their mortgage company or bank on their behalf.
Troy Meath of Troy Meath & Associates, who is also a licensed California mortgage broker, recently completed Ransom Enterprizes, LLC foreclosure consulting training program.
Meath stated "Adding foreclosure consulting to our business model presents an opportunity for us to assist clients that because of pre-foreclosure and credit issues that we would otherwise not be able to service. The month that we added the service of foreclosure consulting we received a huge response for the service."
Ransom Enterprizes, LLC specializes in pre-foreclosure prevention and training consulting. The firm offers a foreclosure consultant training program that shows how to represent persons in pre-foreclosure situations and how to work with mortgage lenders and banks.
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