March 17th, 2010 – Potestivo & Associates, P.C. signs into contract the first ROOF Agreement in the City of Detroit for an initial 3 month term.

ROCHESTER HILLS, MICH.  March 18th, 2010 - Potestivo & Associates, P.C., an award-winning legal services provider to the default servicing industry, is pleased to announce the signing of the first ROOF Agreement, which was introduced in November of last year. The agreement’s purpose is to aid foreclosed upon homeowners in keeping a “ROOF” over their heads while they get back on their feet and reducing the number of vacant homes in the City of Detroit.

The ROOF Agreement (Retaining Occupancy on Foreclosure) was born under the collaboration of Potestivo & Associates and the DOOFPR (Detroit Office of Foreclosure Prevention and Response) and was formally introduced at a summit in November of 2009. The property for the first ROOF Agreement is located on Kensington Street and has an initial term of three months (90 days) at which point the occupant can request a month to month extension of the Agreement.

“We couldn’t be happier that we are seeing our first Detroiter benefit from the ROOF Agreement”, says Brian A. Potestivo, President and Founder of Potestivo & Associates, P.C.,  “we knew that ROOF was a step in the right direction with helping individuals during rough times and also helping the City of Detroit.”

Under the ROOF Agreement the occupant must pay for all utilities, heat, water, electricity, etc., and a monthly fee will be instituted depending on the occupant’s ability to pay.

For more information about Potestivo & Associates legal services or the ROOF Agreement, please contact:

Angela S. Veda
248.853.4400 x1102
aveda@potestivolaw.com

About Potestivo & Associates, P.C.:
For almost twenty years, Potestivo & Associates, P.C. has provided award-winning legal services to the mortgage banking and default servicing industries.  Headquartered in Rochester Hills, Michigan, the firm also maintains full-service operations in Grand Rapids, Michigan and Chicago, Illinois.  Potestivo & Associates is an AV®-rated firm supported by over 100 team members and handles all aspects of default servicing including foreclosures, bankruptcies, landlord and tenant, title resolution, loss mitigation and home retention, REO disposition, and litigation. 

Contact:                    
Michaelene Grauf, Director of Client Relations
Potestivo & Associates
p:  (248) 853-4400 x1117
http://www.potestivolaw.com

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