SOURCE: Freedom Financial Holdings, Inc.

August 01, 2008 10:27 ET

Freedom Financial Holdings, Inc.'s Foreclosure Resolution Initiative Meets Strong Acceptance in Initial Markets

Division Reports Settlement in More Than 60% of Cases

WAYNE, IN--(Marketwire - August 1, 2008) - Freedom Financial Holdings, Inc. (PINKSHEETS: FDMF) CEO Brian Kistler announced today that the Company has launched Freedom Mortgage Resolutions, Inc., over 100 mortgage professionals in sixteen states.

Brian Kistler, the Company's Chairman and Chief Executive Officer, commented, "I am very excited to see this division of Freedom unfold. The foreclosure issue is one of the largest challenges the United States banking industry has ever faced. The magnitude of foreclosure is overwhelming and many lenders do not have the time or ability to work with individuals. However, foreclosures are not a good alternative for anyone. Banks receive pennies on the dollar and, most importantly, families are left devastated.

"Our Mortgage Resolutions division was created to alleviate this gap and it has been well received by mortgage professionals at all levels. We have been able to attract the highest quality of talent in Ohio, Indiana, Alabama, Minnesota, Illinois, Georgia, Kentucky, Pennsylvania, Tennessee, Mississippi, Florida, Nevada, Wisconsin, North and South Dakota and North Carolina. We continue to look for displaced mortgage/sales professionals willing to roll up their sleeves and help do something good for at risk home owners."

Robert Ruckstuhl, Chief Executive Officer of Freedom Mortgage Resolutions, went on to comment, "When a home owner is at the point of foreclosure proceedings, they are typically frightened and don't know where to turn. Our professionals are trained to apply the experience they have garnered within their local market to work with all parties to navigate a favorable outcome. FMR has successfully negotiated approximately 60% of our cases to settlement."

While settlement is not always a viable outcome, FMR works closely with its customers to find the best possible solution for their particular situation. Services the company provides include:

--  Negotiate re-writing note terms
--  Negotiate note modification
--  Negotiate a forbearance agreement
--  Negotiate a short payoff
--  Negotiate a transfer of deed in lieu of
--  Negotiate and access to legal counsel
--  Keys for Cash
    

ABOUT FREEDOM FINANCIAL HOLDINGS, INC.

Freedom Financial Holdings, Inc. ("FFH") is a holding company with a focus on the identification of opportunities in the financial services sector. The Company's objective is to acquire undervalued assets and/or initiate operations in underserved niches. Once established within the FFH portfolio, the Holding Company will provide the support necessary to enable each of its subsidiaries to maximize their business opportunities.

FFH currently operates two divisions with a focus in the financial services sector; Freedom Financial Mortgage Corp. ("FFMC") with operations in Indiana, Ohio, Georgia and Florida and Freedom Mortgage Resolutions, Inc. . with operations in Ohio, Indiana, Alabama, Illinois, Michigan, Minnesota, North Dakota, North Carolina, Wisconsin, Tennessee, Mississippi, Georgia, Florida, Nevada and Colorado.

FORWARD-LOOKING STATEMENT

This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.

Contact Information

  • Contact:
    Freedom Financial Holdings, Inc.
    Brian Kistler
    260-490-5363 ext 307