Irvine, California-based asset manager Sorrento Capital has launched a new Web site — MortgageOutreach.org — to educate homeowners on their options when faced with the imminent danger of mortgage delinquency, default, or foreclosure. The no-cost online resource is leveraged by Sorrento Capital’s subsidiary Mortgage Outreach Services (MOS) Group, which has more than 30 years’ experience reaching out to borrowers on behalf of lenders and loan servicers. “The number of current and potential delinquencies, the complexity of new government programs, and the preponderance of poor and inaccurate information within our industry have all combined to create a ‘perfect storm’ of confusion for borrowers who are having trouble with their mortgages,” said Greg Hebner, president of MOS Group. “As an industry, we need experience-based tools and resources that are based on facts and real world experience to help borrowers work constructively with lenders and loan servicers.” MortgageOutreach.org provides detailed information on the alternatives available to troubled borrowers, along with specific instructions on how best to move forward.

The information provided is based on MOS Group’s experience resolving more than 100,000 troubled loans, as well as its proficiency assisting over 50,000 borrowers looking to participate in the Treasury’s Home Affordable Modification Program (HAMP) and Home Affordable Refinance Program (HARP). The information provided through MortgageOutreach.org covers loan modifications, refinances, short refinances, short sales, and foreclosures. The site’s consistent message not only warns borrowers to avoid companies charging exorbitant upfront fees to modify a loan, but also urges them to understand their full range of options before making any commitments. In addition to informative articles and instruction, MortgageOutreach.org provides background on current government and lender programs, a loan calculator, and real-life stories of borrowers that have successfully resolved their mortgage issues. The site offers a comprehensive look at the details of the new HAMP and HARP programs offered by the Treasury and provides a roadmap of “do’s and don’ts” to help increase the borrower’s chances of successfully qualifying for these programs. “Recent research shows that as many as 50 percent of foreclosures occur without any live communication between homeowner and lenders,” explained Robert Knohl, CEO of MOS Group’s parent Sorrento Capital. “We believe that borrowers have been hesitant to take action due to a lack of real information and facts they can trust. Sorrento Capital initiated MortgageOutreach.org to solve that issue, by providing borrowers with unbiased, accurate information they can use to make the right decisions on how to best work with their lenders and servicers.”