LOUISVILLE, Ky., July 14, 2010 (GLOBE NEWSWIRE) -- Program HR 3648 has established itself as the #1 short sale servicing platform in the country. Their unique approach, under Program HR 3648 (a national outreach program that connects certified real estate agents with distressed homeowners), serves to remediate the suffering for both the homeowner in default and the depleted lender.

Jeremy Bowman, Co-Founder and CEO for Program HR 3648, states, "Many want to pit the homeowner against the bank and the bank against the homeowner. The hard truth is, in a pre-foreclosure situation both parties are suffering. Both the lender and the homeowner largely benefit from a neutral party facilitating a cooperative effort that rescues the homeowner from foreclosure and the lender from financial loss."

Mortgage lenders lose thousands of dollars when a homeowner stops making their mortgage payment. These holding costs keep piling up until the house is sold. Consequently, when it's proven that a homeowner can no longer make their payments or qualify for a loan modification or forbearance plan, most lenders are willing to settle the mortgage debt for less than amount owed (known as a short sale) provided the proper process, documentation, and criteria are completed. Program HR 3648 proactively locates homeowners facing an inevitable foreclosure, equips real estate professionals throughout the country to help administer the short sale process between the lender and homeowner, and is committed to saving lenders significant amounts of money in wasted-holding costs.

In order for most lenders to consider a short sale, there must be a contract from a buyer to purchase the house. With Program HR 3648, lenders don't have to worry about low-ball offers from investors or "phantom buyers" used just to kick off a short sale negotiation with the lender.

Woods Davis, Vice President of Sales and Marketing adds, "Bank loss mitigators are overloaded. They don't have time to waste on bogus offers or incomplete paperwork. Our unwavering commitment is that every short sale packet we send to a lender is in perfect order and includes a true retail contract from a genuine pre-approved buyer. We use the best real-estate agents we can find in every market to sell each of our houses for the highest retail price possible."

Joe Arriaga who has been a loss mitigation manager for some of the largest banks in the country says Program HR 3648 backs up what they say. He states, "Program HR 3648 is by far the best short sale company I've come across. They do what they say their going to do. They're honest and we get the deals done."

Co-founder Jeremy Bowman states, "We are serious about our commitment to help both the homeowner and lender at the same time. In order for our model to work we must protect that trust, on both fronts, at all cost. We require our employees and agents in the field to be strict facilitators of that trust. That's why we created our certification program."

Program HR 3648 trains and certifies professional real estate agents and brokers to service exclusive territories throughout the country. Program HR 3648 provides them unlimited short-sale processing as well as pre-qualified leads that are exclusive to their territory. Program HR 3648's real estate agents must go through strict training in order to qualify to partner with Program HR 3648.

The Program HR 3648 logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6979