Lender launches first-of-its-kind program to keep homeowners home

By October 9, 2019NextJob

Losing your job is tough.  It’s even tougher when you have a mortgage and you have no savings or other support system.  You may even risk losing your house.  With Haventree Bank, things are different:

According to The Globe and Mail* (Link Below), it doesn’t have to be that way.

“Haventree has launched a first-of-its-kind program in Canada called NextJob. Essentially, it is designed to help people who have lost their job find new work.”

Why would a bank pay for a borrower’s job seeker program?

  • This program creates positive word of mouth, good reviews, and referral business.
  • Customers helped by a business tend to stick around. “The average tenure of that customer increases when they go through NextJob,” Wilfred Pande, vice-president of mortgage servicing at Haventree That generates higher mortgage-renewal revenue.

  • It’s also a good way for Haventree to keep expenses down. “It helps us [economically] by having the customer stay in their homes.” That’s because of the many administrative costs of taking someone’s home, some of which are not recoverable.

  • There can be other financial benefits for a lender. A mortgage forbearance agreement, in which a lender agrees not to foreclose if the borrower meets the lender’s terms, could mean that the mortgage doesn’t show up in the lender’s bad loan statistics.

  • Plus, it’s the right thing to do!

Homeowner reemployment helps banks retain customers, build new relationships, and ultimately keep people in their homes.

How does it work?  Coaching, software, and webinars.

A Personal Trainer for Your Career

A job coach is like a personal trainer for your career. Your coach calls will help you:

  • Craft and fine tune a resume, 30 sec. commercial, social media profile, etc.
  • Choose a career direction to best tap their talents and background
  • Stay focused, accomplish goals and interview with confidence

 

All You Need to Know in One Spot, Online

Tools and exercises to help be prepared, including a resume builderIt takes a lot.   Job boards, social media sites, resumes . . . Our system gives you:

  • Today’s networking tricks to tap the 50% of jobs that are “hidden”
  • Guidance to the top job boards and how to use them

 

Downloadable Weekly Expert Webinars

Each week tune in to our JobTalk webinars for a deep dive in a key topic:

  • Hear experts discuss best practices and leading trends you need to know
  • Participate in group learning, share and hear from others
  • Download recordings to listen to on demand

 

 

*https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-haventree-bank-launches-nextjob-program-for-homeowners-who-have-lost/