Tag Archives: Distressed

Distressed Home Institute Kicks Off New Year with Habitat for Humanity Develop

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Austin, Texas (Vocus) January 14, 2010

The Distressed House Institute, LLC announced it will commence construction of its initial residence with Austin Habitat for Humanity in the Meadow Lake neighborhood of Austin, Texas, January 23, 2010. This house will be the first construct of 2010 for Austin Habitat for Humanity, and marks a continuation of the Institutes community outreach plan.

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Habitat reports that there are far more than 60,000 Austinites living in overcrowded, unsafe and expense-burdened circumstances. These families are hoping for a brighter future for themselves and their youngsters.

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We want to help a family members build their future by helping to build their residence, Alex Charfen, co-founder and CEO of the Institute, said.

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The Institute trains real estate professionals in the tools and solutions offered to home owners facing foreclosure, and confers the CDPE

Distressed Home Institute Breaks Ground on Habitat for Humanity Develop

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Austin, Texas (Vocus) January 25, 2010

The Distressed House Institute, LLC broke ground on building nowadays for its very first residence with Austin Habitat for Humanity in the Meadow Lake community of Austin, Texas. The house, the very first develop of 2010 for Austin Habitat, will supply a fresh commence for Austin resident Jaylandra Fitzgerald and her household.

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Our membership of true estate agents across the nation is assisting home owners regain their stability, and providing hope when faced with the possibility of foreclosure. We want to continue this mission and have an quick influence on a member of our community, Alex Charfen, Institute co-founder and CEO, said.

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The Institute, which confers the CDPE

Improve in Las Vegas Quick Sales & Distressed Properties Seen in 2010

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Las Vegas, NV (PRWEB) May 26, 2010

With the financial downturn severely hitting Las Vegas and surrounding areas like Henderson and North Las Vegas in the final handful of years, the quantity of distressed properties in the region has never been greater. New York-primarily based Genuine Capital Analytics reported that the total quantity of distressed properties in Las Vegas is valued at about $ 15.6 billion, making it the biggest in the nation.

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Even though Las Vegas foreclosures dominated the market in 2009, the initial quarter of 2010 showed a steady decline due to a decreasing inventory of foreclosed properties, prompting homebuyers like initial-time buyers and investors to turn to Las Vegas, Nevada short sales. In fact, 27% of April sales had been brief sales, according to the Greater Las Vegas Association of Realtors, and was really up from 22% in February.

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With brief sales poised to become the leading trend in Las Vegas, the Craig Tann Group has launched ShortSaleStreamline.com, an on the web resource especially created for Clark County homeowners who can personally relate to the following concerns:&#13

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Distressed Home owners Beware: Foreclosures Have Slowed, But Not For Lengthy

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Waltham, MA (PRWEB) December 11, 2010

McGeough Lamacchia Realty, Inc., New England’s top agency in Quick Sales, assisting distressed homeowners and their family transition respectfully to a path of economic stability and recovery, announces these days that regardless of the downward market – trends are showing indicators of improvement. McGeough Lamacchia Realty warns of not getting too complacent throughout the vacation season, if your home is in jeopardy of foreclosure.

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Each Fannie Mae and Freddie Mac have announced that they will suspend foreclosures and evictions from December 20th to January 3rd. Back in late August and via early October both Fannie Mae and Freddie Mac turned up the heat with foreclosures across the nation. Thousands of houses have been foreclosed on in the course of the six week period. Realtors across the nation strongly shared their concerns about banks not extending foreclosures in an effort to permit enough time for Brief Sales to close. Thousands of homeowners voiced concern following failed attempts at loan modification denials. Consumers were not presented sufficient time to navigate the newly defined waters of HAFA- Residence Affordable Foreclosure Alternative (program created to exit the property via Short Sale or Deed in Lieu of foreclosure). Millions of Americans, who attempted loan modifications and received denial notifications, virtually immediately received foreclosure dates.

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Soon after the “Robo Signing” debacle hit in October, it appears that the foreclosures have slowed down. It is eminent nonetheless, right after the holidays, foreclosures will drastically resume. Homeowners who can not afford their homes and who uncover themselves in a negative equity position (upside down) need to have to get aggressive and proactive right away. It is essential that customers do not delay due to the fact of the holidays. They want to aggressively pursue a loan modification, a short sale or a deed in lieu correct away. There are nevertheless too many complacent distressed home owners that are behind and have gotten used to the banks not enforcing the foreclosure and eviction. These days are gone.

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Final week Terrance Edwards, Executive Vice President of Fannie Mae, stated Fannie Mae is making use of a Single Track system in loss mitigation which means, they do not instruct servicers to pursue foreclosure if a borrower is functioning on a loan modification. Mr. Edwards accurately stated the fact that borrowers who pursue Loan Modifications, sooner rather than later, are far more likely to succeed. He is right about that and that is the very same case for Brief Sales. We know from our encounter that it is a lot simpler to perform on a Quick Sale when there is not a foreclosure date scheduled.

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At McGeough Lamacchia we take a proactive approach working with our consumers to move their house in a brief sale, allowing peace of mind in an otherwise pressure filled situation. It is our purpose to operate with distressed homeowners, clarify their possibilities and typically assist them in selling their properties with dignity via a Quick Sale, commented Anthony Lamacchia, Co-Broker and Owner, McGeough Lamacchia Realty, Inc. We have in depth bank contacts and over 85% of our Short Sales are approved, he went on to share.

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About McGeough Lamacchia Realty, Inc.&#13

A complete service Massachusetts real estate agency, at the moment specializing in Quick Sales. McGeough Lamacchias understanding of the Quick Sales procedure, deep relations with lenders, and understanding of the complicated and evolving government response to the mortgage crisis enables property owners to locate efficient and dignified solutions when selling their home. McGeough Lamacchia is based in Waltham, Massachusetts and serves Massachusetts, New Hampshire and Rhode Island. To find out more log onto, http://www.MLRealtyNE.com.

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Free Monthly Webinars for Distressed Homeowners from Expert House Solutions

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San Diego, CA (PRWEB) November 01, 2011

EHS is supplying cost-free webinars for distressed homeowners who may possibly be in need to have of loan modifications or short sales. The next webinar Anatomy of a Brief Sale will be Nov. 15, 6pm PST. House owners facing divorce, bankruptcy, probate, NODs or NOTS, will discover the short sale can be the answer to rebuilding and moving on to a happier life.

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Even probate executors and administrators want to watch this webinar. More usually these days a decedents house is underwater. The important for the administrator or executor is not to take the inheritance till right after the residence has been sold. In most instances, this indicates no payments on the mortgage in the course of the method, no harm to the credit of the heirs, no attorney or realtor charges to the estate. Far more advice can be obtained at http://www.distressedassetssd.com. Right here property owners can get the guidance of attorneys.

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Our organization did see one particular executor who hired a realtor who was not familiar with the benefits of a quick sale. The estate had no money beyond the actual estate. This executor paid $ 5000 of her personal money to an lawyer to settle the estate and on his genuine estate agents suggestions was paying $ 1000 per month from her personal pocket for a mortgage for a house that was not in good repair and needed to be a brief sale.

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The subjects we will cover on Nov. 15 at 6PM PST are:&#13

1. Measures in a brief sale &#13

two. Begin creating equity again for retirement and the family’s legacy&#13

three. Selecting an agent and negotiating firm&#13

4. Stress Free of charge Promoting

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Contact 877-267-2514 x121 and leave name and e-mail to obtain an invitation. Home owners can see final months seminar Loan Modifications vs Brief Sales at http://vimeo.com/30771099.

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When home owners sign up, they will get invitations to future webinars like Anatomy of a Brief Sale Part II that will cover Extra concerns:&#13

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LA Legal, Inc. Skilled Employees Rescuing Distressed Homeowners with Loan Modification, Brief Sales and Planning Upcoming Seminars

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Los Angeles, CA (PRWEB) March 30, 2012

LA Legal, Inc. is reaching out to property owners overwhelmed with their existing house loans and on the brink of foreclosure by supplying its expertise in loan modifications. The locally-primarily based loan modification firm is also preparing several upcoming seminars, with the 1st expected to be held in the Los Angeles location.

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Some home owners are nonetheless reeling from financial hardships that have made it tough to sustain their existing property loans at the prices they have been paying because they initially entered into agreement with lenders. LA Legals in-house attorneys and senior staff communicate straight with major lenders and submit documents on behalf of property owners. The firm is a recognized third-party advocate for lenders such as Bank of America, Chase and Wells Fargo. LA Legal has a track record of negotiating with lenders to minimize interest prices and/or the principal reduction of loans.

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Although LA Legal is primarily based in Century City, Los Angeles, the firm offers solutions to property owners in a lot of states, not just California. It also provides free of charge consultation to homeowners, never ever charging up-front charges. LA Legals employees is also fluent in English, Spanish and Farsi.

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Our objective is to aid home owners stay away from foreclosure. Homeownership is the American dream, its anything the average particular person operates numerous years to attain, stated Farshad Sinai, J.D., CEO and Founder of LA Legal. When homeowners need to have loan modifications, we take into account the pressure they are below and assist to bring them clear answers so that they arent left in the dark, he added. We supply viable working solutions for investors, lenders and borrowers in negotiating notes to attain a win-win purpose.

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LA Legal will be generating its knowledgeable and experienced in-property attorneys and senior staff widely accessible with its upcoming seminars. The firm will soon announce the dates and places of the seminars for homeowners that would like to attend and go over their possibilities with LA Legals expert employees. The seminars will be free of charge to property owners impacted by the economy.

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For much more details relating to Loan Modifications, REO Management, and Quick Sales check out LA Legal, Inc. at http://LALEGAL.CA.

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For media inquiries or added details, please speak to:

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Yvette Morales&#13

YM &amp Associates &#13

PR | Marketing | Branding &#13

California | New York&#13

949.244.9769 | 310.499.0906 Fax&#13

YMoralesY(at)YM-PR(dot)com&#13

YM-PR.com

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Uncover Much more Loan Modification Services Press Releases

Apollo Monetary Group Finding Actual Worth in Distressed Debt Investing

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New York, NY (PRWEB) October 10, 2012

For much more info&#13

Ricky Brava&#13

Dean Anastos&#13

http://www.apollofinancialgrp.com &#13

information(at)apollofinancialgrp(dot)com &#13

866 825 9350

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Apollo Financial Group finding real worth in distressed debt.

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Based in New York, the Apollo Economic Group is making a name for itself in monetary circles by dealing with distressed debt, far more particularly troubled mortgages.

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The business uses a proprietary formula to cherry pick default loans from beneath performing mortgages pools produced by some larger banks. Apollo buys such debts with two items in mind:&#13

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Attaining a substantial return on the investment&#13

Assisting the homeowner who is willing to operate items out on the default debt

According to Apollo CEO Dean Anastos, this creates a win-win for both Apollo and the homeowner.

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We can acquire these distressed debts for really appealing percentage on the dollar, he mentioned. Because we then have significantly less invested than the originating bank, have been in a position to perform with the homeowner to obtain a healthful return on investment. More than the years, history proves distressed debt investing has usually outperformed all other varieties of investment vehicles.

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DEBT INVESTING v. EQUITY INVESTING

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What sets Apollo apart from monetary institutions that make, buy and sell mortgages as a matter of practice is these firms are investing on the equity side of the transaction. By investing in the debt, Apollo does not concern itself with upkeep of the property. Thats the home owners responsibility.

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The real alter is visible when a homeowner is not capable to meet the terms of the original mortgage. Apollo is in a position to operate with the homeowner in approaches standard mortgage holders cant, so the homeowner has more incentive to pay off the debt. Loan modifications are much easier to make beneath a distressed debt sale. Most home owners will go to considerable lengths to keep their home, Mr. Anastos mentioned.

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Due to the fact the upfront investment is less, Apollo has room to operate with the homeowner to decrease the principal, the interest price or both.

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Apollo Senior Companion Ricky Brava said due to the fact this is the way distressed debt investing works, it tends to be a lot more secure than other investments.

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“As a specialist investor, the variables that always reign supreme are Security and ROI and distressed debt investing provides both, he said. At Apollo, we are major the way in this type of investing. Our track record shows we have a wholesome history of each ROI and keeping the initial investment safe.

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SECOND MORTGAGES

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Apollo buys 1st and second mortgages, understanding there is a greater threat connected with a second mortgage. Due to the fact of this, the terms to acquire such debts are usually a lot more eye-catching also.

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If you can acquire the second mortgage at a sharp discount, then you clearly have much less invested than the company which produced the second mortgage. Because you have less invested, you can take significantly less in monthly payments and nonetheless understand a satisfactory profit, Mr. Anastos said

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Apollo buys and sells distressed debts. These mortgage notes are supplied to registered clients. For a lot more details about purchasing and promoting mortgages or the distress debt enterprise in common, go to their Distressed Debt trading website. You may possibly also pay a visit to them at their Facebook page .

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For much more data pay a visit to http://www.ApolloFinancialGrp.com or contact 866 825 9350.

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Related Loan Modification Press Releases

Peak Corporate Network Entities’ Principal, Gil Priel, Lauds CA Homeowner Bill of Rights for Requiring Lender Single Point of Speak to for Distressed Borrowers

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Woodland Hills, CA (PRWEB) July 18, 2012

Gil Priel, Co-founder, Managing Director and Principal of the Peak Corporate Network entities (http://www.peakcorp.com), a top provider of complete services for Almost everything Genuine Estate, mentioned nowadays that even though the new California Homeowner Bill of Rights Law final week signed by California Governor Jerry Brown is far from best, one certain aspect of the law requiring a lender to supply to the borrower 1 point of contact for foreclosure and/or loan modification will relieve borrowers from obtaining the run-around.

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Numerous property owners in California facing foreclosure even though searching for a loan modification have been frustrated when they would be communicating with one person from their lender and all of a sudden be told that another person should be the 1 handling documents for the loan modification.

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Starting January 1, 2013, the California Homeowner Bill of Rights will: &#13

Ban “dual-tracking” (which is when banks pursued foreclosure even though the homeowner was in search of a loan modification) &#13

Need 1 lender get in touch with person per buyer &#13

Boost penalties for lender robo-signing (which automatically approves foreclosure without having any individual reading documents) &#13

Let property owners sue lenders for violations

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The American dream of homeownership has turned into a time-drain nightmare for lenders and borrowers alike thanks to what has up until now been a somewhat murky world of hopes derailed and false promises for these attempting to keep away from foreclosure and obtain a loan modification, stated Priel.

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Priel noted that even though property owners will garner higher accountability from lenders, the law doesnt address the potential for irresponsible behavior by home owners when it comes to filing frivolous lawsuits. To some degree, frivolous lawsuits will be time-wasting and resources-draining and heightened lender charges connected with difficult frivolous lawsuits will, unfortunately, probably be passed on to customers performing business with lenders, said Priel.

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As a major authority in the real estate market, The Peak Corporate Network entities give a full array of comprehensive genuine estate solutions nationwide including brokerage solutions, mortgage financing, loan servicing, escrow services, quick sales, foreclosure processing and 1031 exchange. For a lot more data, check out http://www.peakcorp.com

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The Peak Corporate Network is a brand represents a group of connected separate legal entities, every single delivering its unique set of true estate services.

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Much more Loan Modification Services Press Releases

Housing Market place Momentum Up with HUD’s New Information about the Distressed Asset Stabilization System

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Minneapolis, Minnesota (PRWEB) July 24, 2012

According to a July 18th press release, HUD is supplying for sale by means of a competitive auction a portfolio of defaulted single-loved ones mortgage loans (the Mortgage Loans). Qualified true estate investors and buyers may possibly spot bids for a one hundred% ownership interest to acquire distressed properties. Sealed bid auctions will be held on or just before September 30, 2012 referred to as the Single Household Loan Sales for Fiscal Year 2012 (the Sales), to obtain the Mortgage Loans.

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The Distressed Asset Stabilization Plan is an expansion of an FHA disposition program that sells pools of defaulted mortgages in route for foreclosure. From Residence Destination’s experience selling numerous foreclosed residences to date, owner Jenna Thuening believes it will assist further the housing market’s growing momentum and can see it offering opportunities for both the purchaser and borrower to steer clear of the enormous cost of foreclosure.

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The housing industry has momentum not observed because before the crisis, said HUD Secretary Shaun Donovan. But some metro regions are still under pressure and some FHA borrowers stay seriously behind on their loans and stand to lose their residences in a matter of months. As a single step towards avoiding unnecessary foreclosures and further stabilizing communities, we are growing the quantity of loans beyond our original objectives of five,000 per quarter to around 9,000 this quarter.”

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Offering home loan borrowers the opportunity to potentially remain in their houses under a new sustainable mortgage is a win / win proposition. Mortgage Benefits contain:&#13

1) the homeowner&#13

two) the new mortgage holder&#13

3 reduces costs to FHA&#13

4) advantages the surrounding neighborhood

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The mortgage holder will have the responsibility to pursue other possibilities such as leasing the property to the homeowner or a modification. A servicer will be able to location a loan into the loan pool for sale if:&#13

1) the borrower is at least six months delinquent&#13

2) all loss mitigation options have been exhausted&#13

three) a foreclosure proceeding has not stated&#13

four) the mortgage borrower is not in bankruptcy

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Additionally the FHA announced new neighborhood stabilization needs for the challenging-hit metros selected for a nice slice of the funds- where 3,500 loans are to be sold. In Chicago, Newark, Phoenix, and Tampa, to hold a balance, no a lot more than 50 percent of loans bought within a pool can be sold as actual estate owned (REO) properties.

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‘Qualified bidders” means somebody authorized with a net worth in excess of $ 5,000,000 determined in accordance with the Typically Accepted Accounting Principles (GAAP). It appears that the bidders will need to declare themselves as either (like, but not restricted to) a corporation, partnership, limited liability company, organization trust, savings and loan association, insurance coverage firm, investment firm, bank or company entity.

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Investors who personal these loans should delay foreclosure proceedings for at least six months, so the mortgage’s new servicer can attempt to discover an option to foreclosure. HUD’S site says, “Entities interested in submitting Bidder Qualifications for the Distressed Asset Stabilization System pools ought to comprehensive the Confidentiality Agreement and the Distressed Asset Stabilization Program Qualification Statement”. Submit completed documents by e-mailed to SFLS2012-3(at)debtx(dot)com.

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Acting FHA Commissioner Carol Galante concluded, FHA not only avoids the expenses related with a long foreclosure process, but also the higher costs of sustaining and promoting vacant properties in already distressed markets.” That is great result in for the FHA-insured notes to be sold to investors at a price beneath the outstanding principal balance.

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The September 30th deadline will come about swiftly. Contact Jenna Thuening, owner of Home Location at 612-396-7832 for help purchasing distressed properties.

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