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Firm Introduces Foreclosure 'Emancipation'.
Haupagge, NY -- Stable Footing here has begun offering a patented, voluntary homeowner protection plan as a marketing product to mortgage lenders with the aim of respectively better protecting the value of lenders' loans and borrowers' credit in the event of what otherwise might be a foreclosure situation.
With the Stable Footing product, should a 60-or-more-day delinquency occur, the borrower who has the protection plan has the option of exercising "emancipation rights," said Stable Footing founder and chairman Bill Desane.
When the borrower does this, Stable Footing pays back the principal on the borrower's loan, severs ties with the lender, takes possession of the property and begins working with the borrower on a way to purchase it back, said Will Haddad, vice president of operations for Stable Footing.
At this ...
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Source: HighBeam Research, Firm Introduces Foreclosure 'Emancipation'.