Duluth, GA (PRWEB) January 29, 2009
The markets and the media have been virtually silent about distressed second mortgages – till now. By way of the mixture of expertise and relationships, The Phoenix Group announces a holistic non-performing second mortgage answer. The Phoenix Group focuses on upfront product procurement such as pricing and data validation, asset management and recovery by way of revolutionary loss mitigation, settlement and collection efforts and subsequent asset sale or re-trade.

The Phoenix Group of Affiliated Businesses, LLC is an asset management leader in the second mortgage arena. With deep roots in the credit card debt and genuine estate industries, The Phoenix Group considers the second mortgage marketplace the niche marketplace to be in appropriate now. “Pricing is at or close to the bottom appropriate now, with supply getting comparatively high. However, we believe that could adjust drastically in the next 12-24 months. The time is appropriate to potentially corner this market,” says CEO Fred Howard who has more than $ 4.5Bn in debt trades beneath his belt.

“This is a entire new ballgame,” said Sarah Barry, COO of The Phoenix Group. “We have all the proper players and equipment in spot and are already tested. We are excited that our remedy creates a channel to get, service and sell delinquent second mortgage assets that need specialty loan loss mitigation and liquidation. With our firm’s getting encounter, we can keep value advantage and develop a conduit, or flow-primarily based access points, in order to manage a viable technique in the subordinate asset market place. Our operational companion facilities give both secured and unsecured specialty loss mitigation and collections all through the nation.”

Numerous banks are beginning to work with property owners to modify mortgages. However, recent reports point to increased payments and re-defaulting loans since the modifications add interest and fees back to the principal. Shawn Barry, President of The Phoenix Group, points out, “We recognize the value of aggressive loan modification and settlement delivers to give the property owners the proper incentive to act and get themselves back on their feet. The Phoenix Group integrates its vast network of collectors and servicers to train them on exclusive workout plans in times when most loan modifications are not operating.”

What about these second mortgages after a foreclosure has occurred? The Phoenix Group manages unsecured second mortgages that are frequently regarded deficiencies. “We work with borrowers who are no longer in the residence due to foreclosure. It is important to recognize that if a second mortgage is not wiped clean in a foreclosure, the second mortgage is nevertheless a valid, legal debt. It remains on record and might influence future purchases. We want to help in producing a payment history so that people have the chance to re-invent themselves and acquire one more home,” adds Shawn.

The time is proper to exploit this niche industry of non-performing second mortgages. Till now, few, if any, have put all of the pieces together. The Phoenix Group is the holistic solution to tap into the distressed second mortgage marketplace prior to the chance goes away.

For Info: http://www.PhoenixGAC.com or
Get in touch with: Shawn Barry, President
Email: ShawnB (at) PhoenixGAC (dot) com
Direct Mobile: 804-334-8010

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