Encouraging HomeOwner Foreclosure?

Was listening to NPR this eveing on the way home from work and they covered an interesting new business that is taking advantage of the rising tide of foreclosures on the market.  Two San Diego lawyers have created a new web site called that provides consumers with a foreclosure kit so that they can literally simply leave their houses in eight months after foreclosure.  Interesting business, but may not be a great thing for the real estate or mortgage industries to promote to consumers.

What do you think?  Interesting and innovative business model, but may be a tough one for the real estate industry to swallow.


2 thoughts on “ Encouraging HomeOwner Foreclosure?

  1. Joann

    I don’t think anyone knows the truth behind this comapany…the founder Jonathan Maddux was the owner of IMS Lending in San Diego, a BIG Sub-Prime mortgage broker for years…probably put alot of these people in these loans in the first place. I wonder how his lenders would feel about him helping people default…only in America.

  2. Who wants to think in the Real Estate business??? Really, the only business that have been ripping of the people are banks.
    At least this is a way for law to work in the people’s favor. It is always all the way around!
    It is time for banks to take a hit, come on!

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