Arrears & Repossession

greenspun.com : LUSENET : Repossession : One Thread

This may not go down well but I am an Arrears Manager for a Big Mortgage Company in the sub prime market (not mentioned on this site)and I would just like to say the following in regards to this site.

I personally find it useful for my own job because it lets me hear borrowers experiences with lenders in general and the problems that they face with regards to arrears, possession and shortfall. In my role (and you can of course choose to belive this or not) I do not encourage possession of property. The most important element is communication, if you talk to us then we will listen and we will offer as much advice and assistance as possible.

When you encounter financial difficulties we provide where accepted many free service (free to you, not us) services to help you resolve your debt problems, services to help you find new employment where applicable and most importantly collections staff that are not single minded but there to help. Many of you seem to think that we are unkind and uninterested in borrowers personal circumstances. This is not true, we do all we can and maybe that is why we have never been "featured" or even mentioned on your site.

When we take possession of a property its most definately a last resort, and when we do this we aim to get the best possible price for a property to avoid a shortfall position, if we expect a shortfall we may not even sell a property and rather keep it for a longer period to gain a better price. The best interests of the borrower are kept firmly in mind at all times.

Should we get to a position where a shortfall is unavoidable then we account every penny to the borrower to explain why the shortfall is the amount we state. In the event of a shortfall we will not charge any penalties, early redemption or otherwise from that point onwards unless we have to trace a borrower to discuss the shortfall with them. No interest will be charged either on a shortfall. We will do everything possible to prevent the situation worsening.

I am certainly annoyed that many lenders take the approach that I have seen in this site and it detracts from the work that some of us are trying to achieve by working with our borrowers and not treating them badly at any time.

I personally will continue to visit this site and learn from the experiences listed here and ensure our comittment to our borrowers does not fall to the level some of you are suffering.

-- Lee Wisener (Lee_wisener@hotmail.com), December 19, 2002

Answers

I also talk a load of rubbish.....you mugs.

-- Lee (Lee wisener@hotmail.com), December 19, 2002.

I am also unemployed and living on benefit......he he he

-- Lee (Lee wisener@hotmail.com), December 19, 2002.

And the point of this post is .... ? Get a life, preferably on Mars.

-- Al (topbanana07@hotmail.com), December 20, 2002.

Well if thats your attitude towards your lender when you get into difficulty then all I can say is that I dont blame them for treating you the way they do. I stand by my comments!

Childish behaviour by trying to impersonate me in this way using my e- mail address shows you up for what you are.

-- Lee Wisener (Lee_wisener@hotmail.com), December 20, 2002.


Lee, I apologise if you did not write the offensive comments below your original post, as you can see some people take great delight in laughing at the plight of others, I get sick and tired of people trying to wind others up, all I want is a fair outcome in a bad situation for all concerned.

-- al (topbanana07@hotmail.com), December 20, 2002.


Apology accepted, there are too many people who poke fun at other peoples misfortune, Just because I am an arrears manager does not mean I am completely heartless, If I can be of any assistance and offer any advise to anyone in preventing a possession through positive action then I am only to glad to assist.

-- Lee Wisener (Lee_wisener@hotmail.com), December 20, 2002.

You can find more info on Lee Wisener on Friends Re United. He works for a London Mortgage company and claims he is now on the Board of Directors.

Check his own posting on Friends Reunited.

-- hanging in there! (Anderston828@aol.com), December 20, 2002.


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