Adapting to today's changing economic environment, RoboDocs has announced that is now offers an array of services to help lenders to deal with problem loans and respond to borrower defaults.

"In my years of law practice I have frequently represented lenders in connection with problem loans," says Gary J. Highland, President and General Counsel for RoboDocs.  "In today's market, lender's must frequently respond to borrower defaults.  RoboDocs now offers documentation preparation for documents that are commonly needed in response to borrower defaults.  These documents include forbearance agreements and workout agreements, which RoboDocs can generate with greater speed and efficiency, and at a lower cost, than law firms.  RoboDocs will also help the lender to coordinate the entire process through our alliance partners with the necessary legal, title and foreclosure services."

"When a loan goes into default, it is important that lenders act promptly to protect their interest," says Highland.  "If the lender and borrower both desire to avoid foreclosure, a forbearance agreement should be entered into immediately upon the occurrence of a default to protect the lender's rights while solutions are explored.  If an agreement can be reached between lender and borrower, the terms of the agreement should be set forth in a workout agreement with appropriate loan modification documents.  RoboDocs can assist with the preparation of these documents and, in cooperation with our allied law firms, all necessary ancillary legal services."