Things to Know First

We are a for-profit investment company and we secure single family homes, condos or townhomes with delinquent or distressed mortgages. We take title "subject-to" the underlying defaulting mortgages and we conduct an "arms-length" transaction with Transferors via quit claim deed and specific Power of Attorney. This allows the transferor to move on from the property and all the trouble it represents.

We are not a law firm, and we do not practice law. However as a new owner of the property, we use Real Estate and collection attorneys to leverage risk.      

What happens after I transfer my property to your company?

Our final goal is to acquire the property at a discount. Our aggressive loan challenges can make life unhappy for foreclosure grinder law firms and their clients.

Our legal team employs many different legal tactics. Once a new property is acquired, we do a full and detailed analysis of the mortgage, with special attention to who the lender is, and the type of loan.

Our attorneys' plans may include looking for possible violations of RESPA, the Fair Debt Collection Practices Act (FDCPA), complications with the Mortgage Electronic Registration Systems, (MERS), and numerous other strategies all designed to give us tremendous leverage in negotiating the acquisition of the subject property.

When can I turn over the property responsibilities?

Our acquisition process is fast and is often completed in just 10 business days. Some homeowners have a difficult time emotionally disengaging from the home and can remain emotionally connected to a property, even after they have shifted it to our company. We want to assure you that we will contact you if needed, but more often than not, it is not needed. We start work immediately on the mortgages once we have possession of the property. The note acquisition process is an arduous process, and is not the right solution for everyone. It is like a slow motion tennis match, with legal challenges back and forth from the lender to our company until we gain the leverage needed to reach a settlement.

What happens when I give you my relocation package?

You mortgage information will be verified.  This package contains all of the signed and notarized documents necessary to complete the arm's-length sale including a cashier’s check for consideration in the amount of at least $10, a Power of Attorney form, Quit Claim Deed and an agreement with the terms spelled out. At this point we become the Legal Equitable Owners of the property and we take over from there.

What happens when you take possession of my property?

Since possession is a huge concept under the law we must have physical possession of the property. We do not consider the sale final until we have full physical possession, nor do we begin any sort of defense strategies. The property is expected to be in "broom swept" condition and in full operating order.

What actions do you take after closing?

We may send the lender a change of contact form to direct the lender to send our attorney any and all correspondence and legal notices so that we may respond from here forward.

Some lenders will send a verification letter to the borrower of record, to the last known address for security reasons. If you receive a letter from the bank asking you if it is all right to change the address, please authorize the change and mail back the form to the bank as soon as possible.

We will contact the lender and ask that all calls and correspondence is directed to us or our counsel. It is important that you cease all communications with the bank, both verbally and in writing. In some cases transferors can accidentally harm the process by making statements to the lender that are contrary to our ongoing negotiations. If you accidentally wind up on the phone with the Lender we ask that you simply say, "This account is being handled by a third party. Please cease and desist all communication with me".

Due to increased vandalism, maintenance, and growing lenders occupancy requirements, we have implemented a very successful "Custodial Tenant Program". This program insures that someone is always occupying and maintaining our properties, and helps to offset our significant legal and administration costs.

How long does it take?

It is hard to say.  Some loans are more challenging to than others and each case is different

Could it go to foreclosure?

We want you to clearly understand the risk factors that are involved, and let you that know we share the foreclosure risk with you. We make a significant investment of time and money in each property.

If the loans are delinquent, the foreclosure process has most likely already begun at some level. If you receive documents regarding a future foreclosure concern, be assured that we handle this sort of thing every day, and we routinely halt/postpone/cancel foreclosure proceedings as a matter of our daily activity.

Although we are very successful, we cannot guarantee 100% success in all of our dealings. The risk of foreclosure is an ongoing risk and that despite our best efforts we may not be successful in acquiring the note.

What if you are unsuccessful?

Be assured that we utilize every strategy possible to avoid this scenario, as any foreclosure results in a significant financial loss for our company.  Laws and policies can change as can the market climate.

We guarantee that a foreclosure does not mean that we are not performing our work, nor does it mean the property will ultimately be foreclosed. Our legal counsel routinely stops and halts foreclosure.