LOGS Unveils Proactive Home Retention Services.

Northbrook, IL -- LOGS Network here has created a home retention assistance business to work with residential borrowers whose delinquent loans have been referred to foreclosure or bankruptcy attorneys.

The new business, operating under the name HEART Financial Services, is a division of LOGS, a network of centrally managed attorneys and trustees who provide foreclosure, loss mitigation, bankruptcy, eviction and REO services to the mortgage industry.

Gerald Alt, president of LOGS Network, said the company's business plan is to close the communication gap that naturally occurs when loss mitigation efforts by a loan servicer are interrupted by investor requirements to move those nonperforming loans into the hands of foreclosure counsel.

He said the company intends to continue proactively working those loans in concert with the legal network's clients to try to increase the number of loans that avoid foreclosure sale.

"Now we are seeing across the industry a much more dramatic and vocal focus on keeping the homes out of foreclosure in the first place," Mr. Alt told MSN.

The people at LOGS believe the best service its network of attorneys can provide is to help loan servicers retain the customer whenever possible.

While attorneys have long been involved in the loss mitigation process, that role hasn't been emphasized as much in the past as it is today. Instead, the focus for attorneys has been on meeting timelines for returning title or collateral to lenders in the case of a foreclosure referral.