Frequently Asked Questions
Our comprehensive Foreclosure Workout Specialist solution for banks is truly a unique approach in the market today.
To help answer some of your questions, we've compiled some frequently asked questions about our services and the process.
Don't hesitate to call us anytime at 866-439-4877 if you have questions or would simply like to see what our company can do for you.
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Q: I already have a workout staff in place, how can you help me?
A: There may be several advantages of using our services.
- First, if the demand for workout specialist escalates unexpectedly, we can provide immediate assistance without the recruiting, training, and staffing of in house employees.
- Secondly, we may be able to perform the same tasks in a more cost effective manner.
- Three, our experienced team can bring "another set of eyes" for innovative solutions to your problems.
Q: How do you get paid?
A: We get paid a number of ways. If we can conduct a loan modification without the homeowner going into foreclosure, we are paid a flat fee by the bank. If a loan modification is not possible, we are compensated by the property owner for disposition of the property via a typical real estate commission or by referral fees to real estate brokers that list and sell the property. In the two last cases, the bank does not pay a fee.
Q: We already have a system in place. What can you do for us?
A: With a combined 65+ years of experience as real estate brokers and mortgage brokers, having seen the good times and the bad, we can bring a fresh, creative way of processing the files and streamlining the process by being proactive and innovative in the way we keep your customers “engaged” in the process.
Communication is key with our services. We ensure that borrower in default is emotionally engaged throughout the process in order to keep the process moving every step of the way.
Q: Why would we hire you to do something we have done for years?
A: This is a different time and a different situation.
The financial industry is under the periscope and receives daily criticism from the media. We are more than “workout specialists”. We function as consultants, introducing innovative ways to be proactive and prevent the foreclosure from happening in the first place. In addition, we offer a service that no other company offers; we represent your interests and model a media campaign to send a positive image to the community and your distressed customers.
Q: Be honest, wouldn’t you be more profitable operating as investors, purchasing distressed properties.
A: Absolutely! Without a doubt, we could send out our army and purchase many of these homes on short sales and walk away with $20,000, $30,000, $40,000 at closing and a great deal on the home. We believe that is fundamentally wrong. We are opposed to the self-serving short sale investors that take the profits that belong to the property owner and the banks.
The escalation of these short sales, we believe, are not going to get us out of this mess. It is only going to make it worse. It is our guiding principle that the benefits of a modification or the sale of the property should be, first, for the benefit of the property owner and the bank, and, secondly, for the outside investor.
Q: What’s your secret sauce?
A: There really isn't one specific solution for everyone, but
rather a plan that must be formatted to your company 's individual situation.
This is not a short term solution, but a long term relationship we want to build. We believe strongly that the key to unraveling this escalation of foreclosures is the preeminent objective of proactive communication followed by a process that keeps the property owners engaged in the decision making process and finally, clearly demonstrating the desire to assist the customer, in the best way possible, with a strategy that does not leave them feeling damaged or defeated.
Q: How do you have so many quality REO properties to offer investors like me?
A: Simple, our direct relationships with banks around the U.S. who have retained us to handle their foreclosure workout services give us an inside track on their REO properties before they hit the pubic.
Banks retain us partially because of our ability to help them dispose of REO properties in bulk and one by one creating a win-win-win situation where the bank is able to get these non-performing assets off of their books... and investors are able to build their real estate portfolios faster and cheaper than by going through more traditional channels.
Call now for a FREE consultation
866-439-4877
For more information about Virtuosity Unlimited and the Foreclosure Workout Specialist services we offer, call us at 866.439.4877.
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Are you a homeowner who is going through foreclosure and would like to find a solution that helps you reach your goals?
Through our exclusive bank contracts, we are retained to help sell foreclosure and REO properties for the banks; often at steep discounts.