PRODUCT: THE INDEPENDENT MORTGAGE SOLUTION (TIMS)

摘要

An independent mortgage solution is disclosed which includes a method ofmanaging a defaulting mortgage including in combination the steps of: engaginga third "independent" party to intervene between a mortgagee and a defaultingmortgagor; engaging a third "independent" party to intervene between theproperty owner and the Real Estate Agent; the third party appointing a valuertocomplete an "independent" valuation of a property subject of the defaultingmortgage; the third party also: obtains market appraisals with respect to theproperty, provides advice as to improving the value of the property, engagescontractors to undertake repairs or renovations to the property, appointsagent(s)to sell the property, conduct negotiations on behalf of the mortgagor, andattendsto getting contracts signed by the mortgagor, the third party also appoints asolicitor to complete the conveyance of the property, wherein in operation,theabove method centralises the responsibility of disposing of the property andthedischarging of the defaulted mortgage with the third party, and avoids theneedfor legal relief and the mortgagee taking possession of the property.