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Halo Loan Modification Services, LLC Realizes 50% Surge in Business

Posted on July 8, 2009

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ALLEN, TX–(Marketwire – July 8, 2009) – Halo Loan Modification Services, LLC (Halo) saw a 50% increase in business last month. The trend can be linked to the approval of the stimulus plan approved recently by President Obama that includes help for struggling home owners.

The recently passed stimulus package is providing much needed help for distressed home owners. One provision helps owners that are behind on payments, making the standard 20% equity no longer necessary to be approved. The government is backing a large portion of these loans and insulating banks from being sued by bond holders. Therefore, banks are now approving more and more loan modifications. The demand, however, outweighs the volume most banks are able to accommodate. That is where Halo has been able to step in and assist home owners.

Halo’s process begins by assessing the current financial situation of the home owner, followed by customizing a solution that balances affordability for the customer with the servicer’s guidelines for success, and finally, delivering a fully completed modification package for both home owner and servicer execution. A modification could result in a lower interest rate, lower monthly payments, and late fee or principal forgiveness. “We are able to help a lot of people stay in their homes during a difficult time, and that’s rewarding,” remarks Michael Barry, president, Halo Loan Modification Services, LLC. “Given the rising unemployment rate, we don’t expect a break in this trend anytime soon.”

The Halo approach provides complete and ongoing transparency for both the home owner and the mortgage company in the decision making process, supported by a cutting edge custom software platform. “We’ve engineered our proprietary technology platform with the latest program guidelines, web services and electronic document delivery systems to enable Halo to handle one transaction or thousands at a time,” adds Barry. This approach delivers consistent and predictable improvements to the consumer’s financial situation, the return for the investors, and reducing costs to servicers. The result is a fully integrated approach to restoring financial integrity. “Deploying such a robust technology platform allows us to stretch beyond our ability in being more efficient with our resources. It is the only way we are going to overcome the dismal re-default rates servicers have historically experienced with past workout solutions while providing meaningful relief for the home owner. This is a process in which everyone is held accountable long after the decision to modify the loan is made,” states Scott McGuane, president of Halo Group, Inc., parent company of Halo Loan Modification Services, LLC.

About Halo Loan Modification Services, LLC

Halo Loan Modification Services, LLC (HLMS) is a wholly owned subsidiary of Halo Group, Inc. based in Allen, TX. The HLMS management team has a combined 50+ years of experience in the mortgage industry with the ability to operate in a number of states nationwide. For more information visit www.haloloanmod.com.

About Halo Group, Inc.

Halo Group, Inc. is a nationwide holding company based in Allen, TX with subsidiaries operating primarily in the consumer financial services industries including debt, mortgage, real estate, credit, loan modification, and insurance. For more information about Halo Group, Inc., visit www.myhalogroup.com.