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Keychain Program Aims To Prevent Foreclosure.

Mortgage Servicing News

| September 01, 2007 | COPYRIGHT 2007 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

MINNEAPOLIS -- Keychain Alliance is offering assistance to homeowners risking foreclosure due to lack of funds through face-to-face counseling, its HOPE program and partnerships with local organizations that educate borrowers on how to avoid foreclosure.

The service is earmarked for GMAC Mortgage and Homecomings Financial customers who are experiencing financial difficulties in 10 cities.

"The Keychain Alliance is part of our broad loss mitigation strategy to help people stay in their homes," said Steve Nelson, director of foreclosure prevention for GMAC Mortgage and Homecomings Financial. "In addition to typical communications such as mail, outbound calling, inbound calling and educational campaigns, we rely on the Keychain Alliance to work directly with customers who are struggling to maintain their homeownership."

A 20-member team of mortgage specialists established in 2002 provides ...

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