Tag Archives: Group

Apollo Financial Group Lobbies Congress – Requests Review of Legislation Regarding Taxation of Loan Modifications

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New York, NY (PRWEB) October 31, 2012

by Bill Cooper Anderson

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For immediate release

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Apollo Economic Group lobbies Congress to request assessment of legislation on taxation to the debt holder offering loan modifications on acquired debt.

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Revenue tax law tends to make federal government complicit in house foreclosures against American homeowners.

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A federal revenue tax law on loan modifications is making mortgage holders and investors spend taxes for revenue they have not received.

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The law says any time loans like mortgages are modified, the modified loan might be subject to revenue tax. The tax has to be paid even although the modified loan has not generated the earnings getting taxed. This is recognized as a phantom income tax. The law is Title 26 of the IRS Code, 1.1001-3

Biggest True Estate Group in North Germany Improves Employee Mobility and Optimizes IT Operations with Unidesk Virtual Desktops

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Marlborough, Mass (PRWEB) June 05, 2013

Unidesk Corporation, provider of the leading application delivery, image management, and provisioning solution for cloud-hosted desktops, right now announced that Massive BAU-UNTERNEHMENSGRUPPE has replaced its PCs with a Virtual Desktop Infrastructure (VDI) created and managed by Unidesk

Apollo Economic Group Unveils Advantages of Distressed Debt Investing at New Seminar

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New York,NY (PRWEB) November 29, 2012

As foreclosures continue and men and women seek appealing earnings investment possibilities to bolster their portfolios New York primarily based Apollo Financial Group promotes the benefits of investing in mortgage notes at a new seminar.

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With a housing recovery underway true estate has as soon as once more rapidly become a single of the hottest and most talked about investment sectors. Nonetheless, enhanced competitors in the residential space, such as many billion dollar private equity funds moving in to obtain distressed properties and convert them to rentals has dramatically lowered the availability of bank owned REOs and elevated the bidding frenzy at foreclosure auctions according to reports by Bloomberg.

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What several typical Americans and investors may not understand is that there is a far bigger pool of distressed debt and non-performing mortgage loans out there, than there are REOs. According to the numbers released by 7,249 U.S. banks at the finish of the 3rd quarter they held just over $ eight.7 billion in REOs. In contrast, these financial institutions also revealed they presently have more than $ 246 billion in late and non-performing residential loans on their books which are 30 to more than 90 days delinquent.

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On the firms internet site Apollo Economic Group reports that it has been in a position to cherry choose from this pool of default loans to obtain superior returns. The premise is that although there are several exit approaches for note purchasers, numerous of these borrowers want to fix their scenario and maintain their properties. This supplies an chance for income investors to get pleasure from steady streams of passive earnings, even though assisting the banks to shed distressed debt and enabling property owners to preserve their residences via loan modifications.

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This is clearly a new notion for a lot of investors. Dean Anastos, CEO at Apollo Economic Group says, 99% of real estate investors invest on the equity side. Debt investing is a distinct ballgame that can be just as profitable with just a fraction of the headache.

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Note investing has been a growing trend given that the housing crisis started but few folks actually understand how it works or what tends to make a sound and profitable investment. This is exactly why Apollo Financial Group decided to launch the upcoming National Note Seminar in Las Vegas.&#13

The occasion getting held at the Aria Resort &amp Casino on December 2nd aims to educate more investors on the advantages of distressed debt investing by way of mortgage notes and share the approaches of profitable investing which have contributed to Apollos success.

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Additionally, on December 1, Ricky Brava, senior companion at Apollo Economic Group has also been invited to speak as one particular of the primary speakers at the Difficult Income Pitbull Conference. Ricky Brava specializes in turning a non performing asset into a performing one particular and will discuss the functions of this type of alternate investing to the sophisticated group of people who attend Leonard Rosen’s annual occasion.

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For these desiring more information on the occasion in Las Vegas or note acquiring Apollo Economic Group can be discovered on the net at http://apollofinancialgrp.com/.

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An additional Market Veteran to Join the Collingwood Group as Vice President

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Washington, DC (PRWEB) August 20, 2012

The Collingwood Group announced right now that Linda Nessi joined the firm as Vice President of the Risk Management and Compliance Division. The Division is focused on mitigating the danger of enforcement actions and making certain operational readiness and compliance with the rigorous specifications of government lending.

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Nessi surely brings a rich background of government plan expertise that will enable her to support the complete variety of The Collingwoods Groups government lending consulting services, which includes managing operational danger assessments, quality manage evaluations across the complete loan life cycle such as origination, servicing and insurance coverage claims, and individual loan file evaluations.

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Former FHA Commissioner, Brian Montgomery, now Chairman of The Collingwood Group noted, Not only does Linda bring a wealth of FHA system experience but her tenure at Fannie Mae and Freddie Mac offer an added dimension to the Danger Management and Compliance Divisions notable encounter.

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Prior to joining The Collingwood Group, Nessi served as a Director of Testing and Monitoring at Freddie Mac for three years, where she oversaw House Inexpensive Modification System (HAMP) and non-GSE portfolio compliance. Nessi also worked at Fannie Mae for five years, where she managed the Money Commitment Window and the Operations Consultants Group.

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Most notably, Nessi spent more than thirty years at the Department of Housing and Urban Development (HUD). The Collingwood Groups bench of personnel is already deep with HUD veterans. Nessis addition further deepens Collingwoods cache of HUD veterans at The Collingwood Group, representing over 250 years of combined HUD experience on staff.

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In her tenure at HUD, Nessi served as the Associate Deputy Assistant Secretary, Director of an FHA Homeownership Center, and Branch Chief of FHAs Quality Assurance Division where she was accountable for on-web site loan origination and servicing compliance testimonials. She held other positions at HUD, such as Multifamily Housing Representative, Neighborhood Preparing and Improvement (CPD) Representative and Urban Improvement Action Grant (UDAG) Officer.

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Ms. Nessi stated that, It is wonderful to be back functioning with so a lot of former FHA colleagues. The mission of The Collingwood Group and its focus on working with clients to establish and keep greatest practices and compliant applications is one thing I am proud to be a element of.

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About The Collingwood Group

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The Collingwood Group (http://www.collingwoodllc.com) is a Washington, DC-based business advisory firm focused on growing clientele organizations, promoting revenue development and growing investment returns. The firm is led by Brian Montgomery, former Assistant Secretary for Housing and Federal Housing Commissioner. Montgomery played a main part in the federal governments efforts to address the nations economic crisis and restore stability and liquidity to monetary markets. The firms other founders have held leadership positions within other organizations in the financial solutions business, such as the GSEs. Collingwoods knowledge spans all aspects of Agency, non-Agency and FHA/VA housing financing applications Ginnie Mae securitization activities domestic and international secondary industry activities and troubles major and specific servicing full asset lifecycle vendor and talent management and all elements of portfolio due diligence, acquisition, property management and asset disposition.

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Company and Banking Attorney Jack Easterbrook has joined Structure Law Group, LLP in San Jose

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San Jose, California (PRWEB) September 07, 2012

Tamara Pow and Mark Figueiredo, founders of Structure Law Group, LLP in San Jose, are pleased to announce that John (Jack) Easterbrook has joined the firm. Mr. Easterbrook represents monetary institutions, company entities and folks in matters regarding industrial debt financing, true estate transactions, loan workouts, insolvency and creditor’s rights matters. Tamara Pow stated, We are thrilled to have Jack join our firm. We have frequently relied on his knowledge in the past and we are thrilled to have him in-property now so that we can seamlessly provide his solutions to our customers. &#13

Mr. Easterbrook joins Structure Law Group from Silicon Valley Law Group in San Jose. Prior to becoming an lawyer, Mr. Easterbrook worked for Wells Fargo Bank in industrial asset based lending and management positions, and he has given that represented quite a few industrial banks and parties dealing with debt financing problems. Line group knowledge in the banking business gives Mr. Easterbrook the potential to strategy legal issues with a keen eye for creating sensible, enterprise options.

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Mr. Easterbrook has in depth experience in the following locations:&#13

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Negotiating, structuring and documenting loan transactions such as financings secured by organization assets, intellectual house, genuine property, or mixed collateral, and structuring complicated debt transactions involving several parties including trusts and guarantors.&#13

Representing customers in the sale and assignment of loans, such as loan participations.&#13

Negotiating dilemma loan, real estate, construction, and contract disputes working with lenders and borrowers to create techniques for addressing dilemma credit transactions and formalizing them with forbearance agreements, or loan modifications.&#13

Representing creditors in bankruptcy and insolvency proceedings to assert and shield rights, including getting relief from the automatic remain, establishing cash collateral orders and other “1st day” agreements, asserting lease rejection claims for landlords and defending preference claims, and negotiating or litigating rights below safety agreements.&#13

Analyzing and taking action on matters arising below the Uniform Commercial Code involving the taking and perfecting of security interests, and protection of the rights of an owner or a lender in house positioned with vendors or third parties. &#13

Enforcing lenders treatments in state and federal court litigating lender liability claims representing clients in matters involving writs of attachment, writs of possession and appointment of receivers conducting discovery, drafting motions and advocating on behalf of clientele in court.&#13

Addressing legal issues that may possibly arise in non-judicial foreclosures of true and individual property collateral litigating judicial foreclosure actions operating with title businesses and trustees regarding foreclosures.

In addition to holding a J.D from Santa Clara University, Mr. Easterbrook also holds an MBA from U.C. Berkeley. He has published quite a few articles, and most lately an post with the Day-to-day Journal titled: Forging Into the New Year: Renewed Self-assurance Amongst Industrial Banking Lenders. &#13

Mr. Easterbrook has also received the distinguished AV Peer Assessment Rating of 5. out of five. from Martindale-Hubbell

Irvine Law Group, LLP has filed a Multi-Million Dollar Lawsuit Against a Loan Modification Firm and the Company’s Lawyers for Alleged Loan Modification Fraud

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Irvine, CA (PRWEB) September 19, 2012

Southern California law firm of Irvine Law Group, LLP has filed a 150-page civil lawsuit in Superior Court of California, County of Orange (Case No.: 30-2012-00578562) against defendants: Consumer Protection Help Coalition, Inc., (DE) Gary Lane, a California lawyer Jose Arturo Abad Vega (also recognized as Pepe Abad, and Pepi Abad) and other named people, alleging that defendants operate “an illegal mortgage modification scheme”. Plaintiff’s lawyer, Rod Bidgoli, a senior partner at the firm stated that the multi-million dollar lawsuit alleges 17 diverse causes of action against the various defendants, like: Fraud, Conspiracy to Commit Fraud Charging Illegal Advance Costs for Loan Modification Intentional Misrepresentation Unfair, Deceptive and Fraudulent Enterprise Practices Violation of the Shoppers Legal Treatments Act Illegal Use of Runners and Cappers and 12 other causes of action.

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The lawsuit alleges that defendants created misrepresentations and assurances to Plaintiff that they would modify her mortgage and acquire a reduction of her loan principal, and cease the foreclosure of her property. Plaintiff claims that she paid the defendants thousands of dollars in advance charges, but no loan modification was performed for her, and as a result she lost her house in foreclosure.

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The lawsuit additional alleges that defendants misrepresented CPAC as a “Federally Registered Non Profit Law Clinic, even though CPAC has no federal registration,” and that CPAC is not registered either as a law corporation or a “Non-Profit Legal Clinic” with California Attorney General’s office, the State Bar of California, or any other governmental or regulatory agency.

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When asked about the case, Mr. Bidgoli declined to comment on the specifics of the case other than what is contained in the legal complaint, due to the fact of pending litigation. The civil complaint nonetheless alleges that there had been felony criminal charges filed against defendant Pepi Abad in Orange County Superior Court (Case No.: 11CF1447) stemming from an illegal mortgage modification scam involving Mr. Abad, and that Mr. Abad has pled Nolo Contendere (no contest) to violation of California Civ. Code Sec. 2945.four(a) which tends to make it illegal and unlawful for a foreclosure consultant to collect advance costs.

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A declaration attached to the civil complaint which was originally filed with the Court in the criminal case by the office of California Lawyer General, Kamala Harris, in help of the arrest warrant for Abad, it was stated that: “The total quantity of upfront charges for loan modification services paid to HOA for the period November 2007 to November 2008 exceeded $ three,600,000”. (In the declaration HOA is identified as the d.b.a. for defendant Abad and his former partner, Dean E. Toro).

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Mr. Bidgoli stated that they have a extremely sturdy case against the defendants and he looks forward to taking this case to trial. He also warned the public that they must conduct a thorough investigation of anybody that claims they can do loan modifications for a fee, even attorneys, law firms and non-earnings.

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Beware of Foreclosure Rescue Scams – Assist Is Free of charge. If you require assistance with a loan modification, pay a visit to http://www.makinghomeaffordable.gov which is a site set up by the government to aid residence owners. Also if you are going to pay an lawyer, or a business for loan modification, verify them out initial by contacting the Federal Trade Commission, State Bar, or the Department of Customer Affairs.

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“Where Are All The Houses? The Reasons Behind Shrinking Inventory” — New Write-up Posted to the Holloway Group Website by the Knoxville Genuine Estate Group

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Knoxville, TN (PRWEB) January 31, 2013

The Holloway Group, the major Knoxville real estate group at Gables &amp Gates, REALTORS has posted a new write-up to their internet site titled, “Exactly where Are All The Houses? The Causes Behind Shrinking Inventory”.

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Troy Stavros, Broker and Partner with the Holloway Group states, “The old adage of supply and demand is at it again. House costs are on the rise since the number of Knoxville homes for sale continues to dwindle.” According to the latest study numbers from the National Association of Realtors, the inventory of properties for sale dropped eight.five% from November, 21.6% from 1 year earlier, and is at the lowest level because January of 2001.

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So why are we seeing inventory of Knoxville properties for sale drop? Right here are the motives:&#13

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Prime 10 Quick Sale Misconceptions – Knoxville Genuine Estate Team, the Holloway Group has Added a New Post on Their Web site

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Knoxville, TN (PRWEB) February 07, 2013

The Holloway Group, the top Knoxville true estate group at Gables &amp Gates, REALTORS has written a new write-up on their site titled, “Best 10 Short Sale Misconceptions”

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Quick definition: A short sale is when a bank agrees to accept less than the total quantity owed on a mortgage to steer clear of obtaining to foreclose on a house.

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Troy Stavros, Broker and Companion with the Holloway Group stated, “There are so many alternatives today for struggling property owners that they need to no longer have to ever go by way of a foreclosure.”.

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Let’s look at the Prime ten misconceptions with regards to quick sales:

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Misconception #1: If mortgage payments can not be created, foreclosure is the only choice. Coming out of the final few tough years, far more alternatives have turn into offered than ever prior to to stay away from foreclosure. Quick sales and loan modifications are the most prevalent.

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Misconception #two: Allowing the residence to go into foreclosure leaves the homeowner cost-free of any future repercussions. Not accurate! Even soon after a foreclosure property owners could be hit with owing a deficiency balance (this implies owing the distinction between what your home sold for and what you owed) or IRS tax liability. A appropriately negotiated brief sale has the potential to relieve a homeowner from this debt.

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Misconception #three: Short sales are also challenging to qualify for. There are truly only two principal criteria needed to qualify for a short sale. Initial, the residence need to be worth less than the existing balance on the mortgage. Second, the owner must be able to prove a accurate economic hardship, such as a decrease in wages, job loss, divorce, or healthcare situation that has altered the ability to make the same income as when the loan was originated.

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Misconception #4: Banks do not want to do short sales.Incorrect! Any day of the week a bank would take undertaking a quick sale more than possessing to foreclose on a home. Foreclosures expense banks lots of money and man power. In fact many banks are providing incentives for buyers that complete a quick sale as an alternative of going by means of foreclosure.

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Misconception #5: Quick sales never take place quite usually. Today in many genuine estate markets, short sales are 10-50 % of total sales. A lot of authorities are predicting that 2013 will see the highest quantity of quick sales to date.

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Misconception #6: Quick sales are also challenging and hardly ever get approved. Brief sales like any Knoxville true estate transaction demand the expertise of a real estate agent that is educated in the approach. If short sales are denied, it is generally simply because the appropriate procedure was not followed. Quick sale approvals are taking place day-to-day with the support of knowledgeable experts.

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Misconception #7: A quick sale will be expensive for the homeowner. In truth this is the comprehensive opposite of the truth. A brief sale ought to not cost the homeowner any out of pocket expenditures. The commission paid to the Knoxville real estate agent selling the home is taken care of by the bank. Really, with the numerous incentive programs getting offered by banks and the government, a homeowner may possibly in fact stroll away with more funds!

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Misconception #eight: A brief sale is not an choice since a foreclosure notice was currently sent. Even though this timing may possibly make a short sale much more hard, it can nonetheless happen. Banks have been identified to delay foreclosure proceedings in order to get a short sale approved and finalized. The recommendation would be to start the quick sale method as early as achievable, but if a foreclosure notice has been received, never give up hope.

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Misconception #9: Denial of a loan modification signifies a quick sale will not be attainable. Even though both of these alternatives are techniques to keep away from foreclosure, they are separate entities and handled by various departments at the lending institution. Just simply because one particular says no, this has no bearing on what the other division will say.

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Misconception #10: Doing a quick sale will eradicate the possibility of acquiring an additional property in the close to future. Like all loan approval, a lot of variables are taken into consideration. With that becoming said, in November, mortgage giants Fannie Mae and Freddie Mac stated a homeowner might be eligible to buy once more two years following a brief sale. Some newer FHA applications could allow a purchase sooner than that.

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ABOUT THE HOLLOWAY GROUP AT GABLES &amp GATES, REALTORS

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The Holloway Group is committed to bringing the very best attainable knowledge to fruition for purchasers and sellers of Knoxville genuine estate. At the Holloway Group we never believe typical is good adequate for our consumers. At the forefront of the Holloway Group is experience. Our group was produced to serve our clientele even far better with specialization and knowledge. We know that individually we can’t be every little thing to everyone so we have come with each other as a group, bringing all of our diverse strengths, so you often perform with the best. We pride ourselves on becoming ahead of the curve on technologies and how it can serve our consumers. When you are a client of the Holloway Group, you can anticipate to have our complete team of experts working to fulfill your individual actual estate aim. As a member of Major Actual Estate Companies of the World the Holloway Group and Gables &amp Gates, REALTORS can assist you with locating the most certified true estate expert to suit your needs, anywhere in the world! Pay a visit to our internet site to search ALL Knoxville homes for sale. Contact us right now for assistance.

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Arizona Department of Housing Hires Loan Worth Group to Help Facilitate HARP Applications for Eligible Arizona Homeowners

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Rumson, NJ (PRWEB) December 05, 2012

Loan Worth Group, LLC (LVG) today announced that it has been hired by the Arizona Department of Housing (ADOH) to help promote and facilitate the application and approval process for a portion of Arizona home owners who may be eligible to get advantages under the terms of the Property Affordable Refinance Plan (HARP) 2. Principal Reduction Help Element of the Save Our House AZ Program.

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The Save Our Home AZ (SOHAZ) Plan was established by the Arizona Department of Housing in 2010 to supply assistance to homeowners who may possibly face foreclosure. SOHAZ offers help in the form of mortgage modifications, principal reduction, mortgage payment relief, quick sale help and second lien elimination.

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Below the terms of the agreement, which is designed to maximize the number of completed applications for HARP 2. help at no price to the customer, LVG will undertake a statewide education and outreach campaign with designated Arizona homeowners who could qualify for the HARP two. Assistance Program. Additionally, LVG will act as a facilitator for home owners whose applications are authorized by ADOH by working with participating lenders. LVG Managing Partner Frank Pallotta said, We comprehend that the method of applying for, and in the end finishing, a HARP can occasionally be difficult and time consuming. We are pleased to be functioning with the Arizona Division of Housings ongoing Save Our Property AZ Program, with the ultimate objective of helping Arizona home owners get significantly needed assistance in these difficult financial times.

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About Loan Value Group&#13

Founded in 2008, Loan Value Group, LLC is a huge scale, turn-key provider of private label, residential mortgage incentive methods that have a constructive and lasting effect of customer payment behavior. LVGs incentive programs and operation platform are made to help realign the long-term interests of homeowners, residential mortgage danger owners, State and Neighborhood Municipalities and mortgage servicers to the benefit of all. Based in Rumson, New Jersey, LVG is the creator and exclusive provider of the Responsible Homeowner Reward

The McCann Law Group, LLP dba Consumer Lawyer Services Defended 131 Families from Losing Their Properties in the Month of November

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Jacksonville, Florida (PRWEB) December 06, 2012

Consumer Lawyer Services employed a range of foreclosure defense strategies to successfully shield 131 property owners in non-judicial states from losing their houses for the month of November.

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With vacation celebrations just about the corner, some property owners were reluctant to place up holiday decorations fearing their families would not have a place to stay for the holidays. Consumer Attorney Services answered back by helping to defend against foreclosure for 131 property owners.

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Although the US economy has been on the road to recovery, numerous home owners are nevertheless dealing with the adverse effects from the burst of the housing bubble in the early 2000s. Home foreclosure rates skyrocketed, and have only not too long ago beginning to subside.

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Customer Lawyer Services ramped up their foreclosure defense efforts to make sure their consumers would have a home to decorate and keep in for the vacation season. Customer Lawyer Solutions utilised a quantity of foreclosure defense tactics such as mortgage forbearance, loan modifications, and foreclosure offense to assist homeowners keep away from foreclosure.

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Customer Lawyer Services realizes numerous property owners are stressed adequate throughout the holiday season, without having the extra fear their residences will be ripped out from under them. Customer Attorney Solutions wants to shield their consumers residences so property owners can concentrate on other issues like buddies and loved ones in the course of the holiday season.

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Consumer Lawyer Services is a full service consumer advocacy law firm primarily based out of Jacksonville, Florida, assisting households with foreclosure defense, debt settlement, bankruptcy law, and a lot more. Consumer Lawyer Services hopes their clients will have a tension cost-free atmosphere for the holiday season and plans to do every thing they can to defend against as many property foreclosures as attainable.

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