ShortSave works because we understand people.
When borrowers are in trouble, they’re embarrassed. Or angry. Or frustrated. And most believe they’re getting the runaround, and feel disconnected from the people, lenders and servicers who are trying to help. So that’s when many simply disengage. Forever.
Every year, hundreds of thousands of borrowers do just that. Disengage. They stop responding to calls and letters. They move, they try to forget, and they attempt to move on. But their mortgage lingers, preventing them from truly moving forward, and tarnishing their credit, job prospects and ability to support their families.
Our patent-pending technology allows today’s borrowers to deal with their lenders and servicers online — where they’re most comfortable. ShortSave leverages the smartphone (a device that two out of three Americans own, and check 88 times a day) to connect people to their servicers.
When servicers employ the ShortSave platform, previously unresponsive borrowers start communicating, because they see the real possibility of getting a loan modification, short sale approval, or even a deed-in-lieu transaction, so they can avoid foreclosure.
Borrowers don’t have to talk to a loan officer, servicer, or debt collector or collect mountains of paperwork. Everything is done online by invitation only, on our secure platform.
There’s no embarrassment or shame. Instead, there are results and progress. Everyone wins.
Arzula Gardner knows her mortgage is in trouble. But she’s embarrassed, confused, and afraid to talk to her servicer. So for more than a year she avoids their calls and letters…and spirals deeper into debt.
Arzula’s ledner starts using ShortSave. She likes the idea of finding a solution online – quickly, confidentially, and without having to talk to a person. She logs in.
A few clicks and less than 5 minutes later, Arzula learns she isn’t eligible for a loan modification but that a short sale of her home is a viable option. She decides to take that approach.
The next day, a real estate agent contacts Arzula and lists her house. Meanwhile, ShortSave helps identify institutional buyers who might be interested. Within 2 weeks, Arzula receives several offers and accepts one.
ShortSave coordinates and finalizes all paperwork for the sale, including contract and title, in just four days. They send it all back to the real estate agent, who receives near-instant approval on the deal from the loan servicer.
One week later, the short sale closes. From start to finish, the whole process takes less than 30 days. Best of all? Arzula is finally free from her mortgage and ready to move on with her life.
Invitation only — Lenders invite borrowers to their website (powered by ShortSave) to start the digital process for a work-out solution.
Simple — ShortSave enables servicers to prepopulate all of the data about a loan in the borrower’s account. All a borrowers has to do is log in and confirm a few details on ShortSave’s secure, online portal.
Confidential — Everything borrowers enter into ShortSave is completely confidential and secure.
Easy — ShortSave walks borrowers through the options available to avoid foreclosure and work out a loan. Borrowers can select a loan modification, short sale, or even a deed-in-lieu transaction.
No paperwork — ShortSave’s patent-pending online interview process makes it easy to enter the details lenders need. Borrowers don’t have to dig up piles of paperwork before finding out whether an offer will be accepted.
Fast — ShortSave helps servicers deliver decisions more quickly and easily than traditional loss mitigation processes. All borrowers have to do is log in and with a computer and/or a mobile device (like a smart phone), which removes human contact from the initial interview process.
Honest — If a servicers can’t find a solution for a borrower, the lender will tell the borrower why. Often, work-out offers aren’t accepted because of a simple technicality. ShortSave helps borrowers understand what they need to do to get a work-out offer accepted.
Connected — Using ShortSave, servicers provide borrowers with the resources they need to complete the transaction. Whether a borrower needs a real estate agent who specializes in short sales or a title company, the servicer can help.
“Simply amazing!” – Home Star Servicing