Cincinnati, OH (PRWEB) July 07, 2011
AHP has utilized private investors to fund these acquisitions from both banks and hedge funds. By taking control of the mortgages or occupied REOs, AHP can craft options to maintain households in their houses. Hence far, AHP has cut monthly payments by an typical of almost 40% and offered alternatives to households to repurchase their houses at rates averaging 63% less than their prior mortgage balances.

“Each family members has a special set of circumstances, dictating customized resolutions,” mentioned AHP Director Jorge Newbery. “Traditionally, government, banks and servicers have attempted to apply 1-size-fits all options to these millions of families, and the outcomes have been disappointing for all. AHP approaches every household, asks them what they want and what they can afford, then concocts a answer which tends to make sense for the family members, AHP and our investors. AHP’s priority is what makes sense for the family, not what tends to make the most money for AHP or our investors. We can supply fantastic options for struggling families and nonetheless create powerful returns for AHP investors. The two are not mutually exclusive.”

AHP’s most common repair is a brief sale leaseback of the home to an investor who agrees to give an inexpensive lease and favorable repurchase alternative to the family members. AHP gives counseling throughout the 5 years lease term to maximize the likelihood that the family will qualify for financing to repurchase. “I wasn’t able to pay my mortgage because I lost my warehouse job at a supermarket. The organization closed after I worked there two years. AHP genuinely does help folks to not lose their houses,” said Antonio Diaz of Dallas, whose monthly payment dropped from more than $ 800 to $ 461 and who can repurchase for $ 19,780 the residence which previously secured his $ 59,850 mortgage.

As opposed to several mortgage holders, AHP encourages non-arm’s length transactions. A single Indianapolis loved ones owed more than $ one hundred,000 on their mortgage. When AHP provided to have an investor purchase the home for $ 22,000 and leaseback to the family, the homeowner proposed that his brother come up with the $ 22,000. “My brother was in a position to purchase my residence and now I’m now renting from him. I wasn’t capable to pay my mortgage due to the fact I lost my job right after the company shut down. I was there for 4 years, then my interest rate increased and my lender wouldn’t let me do a loan modification. Now I paint houses but, sadly, there’s not a lot of operate or funds. Still, I can pay the rent that was set up with my brother and AHP. I am quite pleased how almost everything turned out,” stated former homeowner turned renter Martin Jiminez.

In some instances, AHP can reduce principal and modify the loan. “I really feel like this was an answer to my prayers. I function as an interventionist for Memphis City Schools for the duration of the school year, but these previous summers I haven’t located a summer season job. I ended up using all my savings and not becoming capable to afford my property. The entire AHP employees was really instructional,” mentioned Angela Johnson, whose $ 59,000 mortgage balance was decreased to $ 24,000 and $ 750 payment dropped to $ 400.

AHP has agreements to obtain more than $ 19,700,000 in defaulted mortgages in July. “The banks and hedge funds selling these nonperforming mortgages want reliable purchasers who close on time at fair rates. As we continue to execute, we are getting provided bigger and larger pools,” continued Newbery. “We appear forward to keeping much more and much more struggling families in their residences with realistic long-term options, although offering our investors the potential to earn favorable returns in a socially responsible manner.”

American Homeowner Preservation can be contacted at (800) 555-1055 or http://www.ahphelp.com.

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