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Article: KINDER FORECLOSURES?

Article from:
Credit Union Management
Article date:
August 1, 2008
Author:
Copyright

One credit union executive wants to make the process easier for members.

If there were such a thing as a kinder, gentler foreclosure, wouldn't credit unions be among the first financial institutions to provide them?

Elizabeth Lipke, CEO of Bourns Employees Federal Credit Union (www.bournscu.coop), with $38 million in assets andapproximately2,400members in and around Riverside, Calif., thinks so, and recently queried her colleagues on CUES Net(TM), CUES' members-only e-mail discussion forum, about it.

"Does anyone know of any resources ... that I could share with a member who is facing foreclosure from another lender?" she asked. "I'm not talking about foreclosure in lieu, short sale or any ...

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