Tag Archives: Loan

Commercial Loan Workout Specialist Breakwater Equity Partners Passes $1 Billion in Loan Workout Volume

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San Diego, CA (PRWEB) March 28, 2011

Breakwater Equity Partners, a consulting firm specializing in commercial loan workouts, right now announced the firm has surpassed $ 1 billion in total loan exercise volume. The 21-person firm, positioned in San Diego, CA, has been doubling each and every ninety days to accommodate the increasing demand for industrial loan modifications.

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Breakwater Equity attributes its quickly development and accomplishment to the hands-on encounter of its team, with more than 180 workout assignments completed or in progress. Breakwater utilizes a diverse group of specialized authorities in the fields of finance, bankruptcy, banking, genuine estate law, litigation management and negotiation. Its a bittersweet success story, stated Phil Jemmett, CEO of Breakwater Equity Partners. Whilst we are not excited about the state of the economy and the downturn in the true estate market place, we are enthusiastic about the chance to help home owners and investors save their troubled properties and resolve their private guarantees. All of our customers are dealing with a high level of financial and emotional discomfort, as the true estate collapse has destroyed years of difficult work and produced an uncertain future.

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Breakwater has performed a wide selection of industrial loan workouts on the way to $ 1 billion, from single asset workouts on $ 1 Million loans, to multi-asset real estate portfolios exceeding $ one hundred Million (minimum loan size is now $ five Million). The business has worked on just about each and every genuine estate asset class in a wide selection of places across the U.S. like office buildings, industrial, retail, from strip centers to huge shopping malls, multi-loved ones residential, mixed use, master-planned communities, broken construction projects, residential and land development, golf courses, farming operations and manufacturing facilities.

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We see no instant finish to the limited availability of credit, stated Armand Nicholi, CFO of Breakwater Equity. The banking business is not healthful right now. Every single day we come across banks that are refusing to recognize the extent of their credit losses. Banks arent coming clean with regulators, investors, or the public. The negative loans are clogging up the economic method, and unless we face up to this difficulty we are going to be where Japan was back in the 1990s. Soon after the last actual estate melt down, the RTC liquidated all the bad debts it was very painful, but it cleaned up lender balance sheets, restored the credit markets, and swiftly permitted the economy to get back on its feet. We dont appear prepared to go by means of that procedure this time around, so the discomfort will continue. The genuine estate market will not return to normal situations until credit is offered on commercially-reasonable terms.

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Breakwater also has been working on TIC (tenant-in-typical) loan workouts and is the consulting group managing the Met Center ten office creating workout in Austin, Texas, which has been at the center of controversy over Grubb &amp Elliss judgment of fraud and gross negligence in their dealings with and disclosures to TIC investment members as reported in the Wall Street Journal (Ruling Gives a Peek Into Boom’s Fallout – Anton Troianovsky, December 22, 2010).

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According to our study there are over $ 1.7 Trillion in commercial true estate loans that will be maturing by 2015, $ 1.1 Trillion of which will likely be beneath water, continued Phil Jemmett. We dont see the commercial genuine estate market improving significantly in the course of the subsequent handful of years. With sluggish job growth, growing oil rates, a declining housing marketplace, ballooning government debt, and tight credit, it seems unlikely that the industrial marketplace will recover in the close to term. As these underwater loans hit maturity, an orderly debt restructuring method is in the very best interests of each borrowers and lenders. We believe industrial loan workouts are the most efficient way of resolving these troubles, and an efficient option to uncertain, pricey, and lengthy bankruptcy and litigation processes.

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About Breakwater Equity Partners&#13

Breakwater Equity Partners is a privately-owned actual estate consulting firm located in San Diego, CA, providing industrial loan exercise techniques and negotiation services to property owners and investors all through the U.S. The Breakwater group, consisting of specialists in finance, banking, genuine estate and law, has worked on over 175 commercial loan workouts throughout the US, with deep experience in a wide variety of true estate classes, such as office, industrial, retail, multi-family, mixed use, master-planned communities, residential and land development, golf courses, and farming operations. Breakwater also specializes in Tenant-in-Widespread loan workouts. For much more info on Breakwater Equity Partners, please get in touch with 858-490-3630 or pay a visit to http://www.breakwaterequity.com. Study our industrial loan exercise blog at http://www.breakwaterequity.com/weblog.

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Media Make contact with&#13

Victoria Cunningham&#13

victoria(at)breakwaterequity(dot)com&#13

858-490-3630 x112

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National Mortgage Complaint Center Blasts All US Banks for Failing to Give Homeowners Constant Buyer Service on Mortgage Loan Modifications

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(Vocus/PRWEB) April 04, 2011

The National Mortgage Complaint Center is accusing all US banks, and loan servicing businesses of really dropping the ball, when it comes to assisting potentially a million plus US property owners trying to qualify for a loan modification, or a mortgage loan operate out. The group says, “When a desperate US homeowner attempts to get in touch with a bank, or loan servicing center, they never ever get the very same customer service representative twice, and far more usually than not they are receiving conflicting details. As an instance a single customer service representative, will inform a homeowner, who has always been present on their mortgage to stop creating payments on their loan-in order to qualify for a loan modification? We have actually talked hundreds of shoppers, who have been told to quit making their mortgage payments–the dilemma–the bank representative just instructed the homeowner to blow up their credit score, by missing mortgage payments! How amazingly stupid is that? Then an additional customer service representative will inform the same borrower–Oh my God you have stopped producing mortgage payments-you are now in foreclosure.” http://NationalMortgageComplaintCenter.Com

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The National Mortgage Complaint Center says, “If the national news media is actually interested in this US loan servicing disaster story–just let us know–we will do a press release targeting any US city you want &amp you can have a little town hall meeting with victims of this nonsense–the only dilemma–you in the press will need to rent the facility, and its going to need to be genuinely, really big–simply because you will have tens of thousands of US citizens in any huge, or medium sized metro area, who all will have a mortgage loan servicing nightmare story for you. The issue is that vast.” http://NationalMortgageComplaintCenter.Com

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The National Mortgage Complaint Center says, “So how do we repair this loan servicing nightmare for all US property owners? Truly, we feel its sort of simple. When a borrower calls their bank about a mortgage problem, they should be assigned a distinct consumer service representative, who will supply the customer with their complete name, buyer ID, and e-mail address. If its a loan modification, or mortgage function out, this bank, or loan servicing representative will stay with the consumer till whatever the activity at hand is accomplished, and the bank rep sends the borrower specific directions-not this verbal–stop creating your payments nonsense.” They say, “A enormous element of our current US mortgage, or US genuine estate disaster is a direct result of banks, or loan servicers never offering the borrower with anything in writing, by no means enabling the homeowner to get an e-mail, or something in writing, and never ever receiving the identical client service particular person twice. This needs to stop now, if we ever have any hope of placing the present US true estate disaster in our nations rear view mirror-US banks, as nicely as loan servicing firms have to do a significantly greater job, and the US Congress requirements to cease giving banks money for mortgage bailouts, that are absolutely nothing a lot more than an absolute waste of taxpayer money.” http://NationalMortgageComplaintCenter.Com

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Recent US Treasury Announcement States that Net Present Value Test, Such as United Resources Solutions’, Will Ensure a Loan Modification

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Fort Lauderdale, FL (PRWEB) April 14, 2011

It’s no secret that our nation’s economy is in a slump. There have been numerous adverse consequences on the American folks as a result of the recession, including an improve in foreclosures. But in an work to stop foreclosures, much more and a lot more men and women are pursuing loan modification. Loan modification alters the terms of the loan to avert default. But in order to be regarded as for loan modification, a homeowner need to pass the NPV test. The NPV test measures the net present value (NPV) of your home. If a homeowner passes the NPV test, they will be authorized for a loan modification. The NPV test is not essential, but it can help. An on the web version of this test can be discovered with United Resources Solutions’ Web site. Even the US Treasury Department has recently said that it is the only certain way of receiving a loan modification.

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When somebody is in search of loan modification, they can take the NPV test in order to see if it will aid to stay away from foreclosure. The NPV test requires the homeowner’s cash flow and factors in the loan expenses with loan modification and with no loan modification. If the NPV test is constructive, then it indicates that the homeowner would have greater cash flow with a loan modification. The NPV test is a wonderful way for lenders to evaluate whether or not a modification would really support the homeowner or not. If it would not aid homeowner, then there’s no point in performing it.

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The major purpose of a loan modification is to prevent foreclosure. Foreclosures are a big loss of revenue for the bank as nicely as a blot on the borrower’s credit record, so it is typically in everyone’s very best interest to avoid foreclosure. Typically, a loan modification can alter a loan slightly so that the borrower is capable to pay for it. The NPV test can give the lender a far better concept of how helpful a loan modification would be. The NPV test is simple to run, and the NPV test is a wonderful way to save time. If the borrower passes the NPV test the borrower will be authorized for a loan modification.

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The NPV test is such a excellent indicator that the United States Treasury Department has even stated that passing the NPV test is the only positive way to be approved for loan modification. The documents from the Treasury Department go additional, stating that When Mortgage modifications have a optimistic NPV, it is in the ideal interests of lenders, servicers, investors, and borrowers to modify mortgages to lessen the risk of foreclosure. It is a great idea to take the NPV test if the borrower is getting a tough time paying their mortgage. A loan modification can support to make a borrower’s loan far more affordable. If the borrower is critical about getting a loan modification, take the NPV test. It is the best bet at acquiring the loan modification that is necessary.

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A good resource, and an NPV loan modification test can be identified at the &#13

United Resources Options internet site.

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Bank of America Wants Death Certificate of Living Consumer to Approach Loan Modification

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San Diego, CA (PRWEB) March 15, 2012

Bank of America never ever questioned how independent filmmaker De Veau Dunn could be making mortgage payments from six feet beneath. They just kept sending letters, for months, saying they needed his death certificate in order to modify his house loan. So Dunn, along with San Diego based production firm Endi Entertainment, produced a video about the whole story.

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Throughout the loan modification procedure Bank of America had repeatedly requested and received the exact same documents from Dunn. Then the bank claimed to want homeowner Dunn to send official documents proving he was deceased, in order to complete his loan modification.

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At very first I gave Bank of America the benefit of the doubt, thinking they had created a mistake,” stated Dunn. ” I immediately contacted the bank to inform them that, not only was I still alive, but I was the only borrower on my house loan, and I was nevertheless seeking a modification.

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Dunn mentioned he spent several weeks creating phone calls, writing letters and emailing the bank’s client relations manager. Right after a lot more than a month of back and forth with Bank of America and nevertheless getting nowhere, Dunn received a new letter requesting not only his death certificate, but a statement of death benefits to go along with it.

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Dunn explained , “It was at that point that I’d had sufficient and I he decided to make a documentary about the expertise. I did not know what else to do, the expertise has been unsettling, on a lot of levels, said Dunn. What should have been a straightforward economic transaction turned into a relentless nightmare. It was weird. I felt like I was fighting for my life. At one particular point a representative laughed about it more than the phone I was in shock.”

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“I made this film not just for myself, but so that it might be the voice of numerous other people who may be becoming treating this way by lending institutions. I have been told several stories of older folks that some banks are bullying and most of those individuals don’t have a voice, according to Dunn.

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Dunn began his video with a $ 50 price range. Money is tight, but thankfully I had a handful of filmmaking friends that wanted to assist me. We shot the whole factor in a single weekend, and I did the voice-more than narration myself.” according to Dunn. Comedian Mark Serritella was so upset when he heard what the bank was carrying out that he asked to play Dunn in the film in exchange for gas funds and a location to crash. One more actor-filmmaker buddy, Nicholas George, helped polish the script and flew to San Diego to play the undertaker in the Bank of America Wants You to Die documentary.

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“Mark Serritella actually captured the feelings and Nicholas George was hilarious in the video,” mentioned Dunn. “After I shot the last scene for Portion One, I ultimately began to feel like all of this hardship had a greater purpose. Like the story of David versus Goliath, said Dunn. In this case, a modest bank buyer like myself is becoming bullied by the biggest bank in America, Bank of America. I didnt know what else to make of it other than is seems as although Bank of America wants you to die… prior to they modify.

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About Banking Poor: The Banking Bad documentary series about Dunn’s story may possibly speaks to an whole nation caught in a financial and housing crisis. You can find the video on the “Banking Undesirable” web site or at http://www.YouTube.com/BankingBad.

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Bank of America Loan Modification video Bank of America Desires You to Die reaches over 11,000 views in its first week on the new Banking Poor YouTube Channel

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San Diego, CA (PRWEB) March 28, 2012

When Director De Veau Dunn created the Banking Negative video series for a brand new web site named http://www.BankingBad.com, he had no thought his initial video release, Bank of America desires you to die ahead of they modify, would attain effectively more than 11, 000 views in its initial week of release on YouTube. Dunn Developed the video with San Diego based production company Endi Entertainment. It has been amazing, says Dunn, Banking Negative started the new channel with zero subscribers, but a couple of underground sources latched on to the video quite rapidly it seems.

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The 1st episode of the Banking Undesirable Documentary series was filmed to spotlight Bank of Americas continued request for the death certificate of a living borrower in order to total a residence loan modification. We had been hoping that the video did nicely and was entertaining, but we had know thought so several men and women were getting problems receiving their property loan modifications until we began receiving emails. I believe this may be why folks have gravitated to the Bank of America Desires You to Die video so speedily. We have received so numerous emails from folks who are possessing unfavorable experiences with Bank of America loan modifications, as well as a lot of other banks. These men and women have been thanking the men and women over at Banking Bad as effectively as my crew for posting the 1st Banking Poor video, says Dunn.

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This initial optimistic response has prompted the individuals at Banking Bad to generate a Banking Poor Facebook page to go along with the Banking Negative Video knowledge. Banking Undesirable is inviting people to like the new page at https://www.facebook.com/BankingBad, as well as comply with Banking Undesirable on twitter at https://twitter.com/#!/BankingBad, for video updates on the banking documentary.

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Dunn added, it was a actual challenge to locate humor in the morbid scenario that Bank of America created by requesting a Death Certificate for a straightforward financial transition. I was able to craft a bit of humor in element a single of the Bank of America documentary via a satirical scene I utilized at the finish of the video. The majority of folks that have reached out to us by way of e-mail described their enjoyment of that scene and how the video had similarities to their loan modification encounter. The very first Banking Bad video is about 7 minutes in length and the satirical scene Dunn mentions is toward the end of component one. Filmmaker Nicholas George stars in the scene playing an undertaker. Dunn continues, Oddly sufficient individuals have been writing in about how funny Nicholas was in that scene. Personally I think it added a small levity to a extremely tough circumstance, and I am shocked to see how many individuals have been watching the Banking Bad video for pure entertainment and have no involvement or experience with loan modifications.

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About Banking Bad:&#13

The Banking Undesirable internet site and YouTube channel is dedicated to educating and informing the public of strange or immoral activities involving banking institutions. Banking Poor permits users to join in the conversation and exchange info about their most current loan modification or banking pitfalls and/or successes.

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Kramer & Kaslow Attorney Philip A. Kramer Weighs in on Government Loan Modification Controversy

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Calabasas, CA (PRWEB) April 30, 2011

Whilst no imminent legislation is in sight, the California Democratic Congressional Delegation did send a letter to Attorney Basic Eric Holder that concludes amongst other things, Its clear that even soon after promising to operate with borrowers, and getting government incentives to do so, economic institutions are simply stringing the American individuals along. Right after reviewing thousands of complaints from our constituents, it appears that we arent dealing with isolated incidents and that a pattern of misconduct and obstruction is present.

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When asked for a comment about the report, noted lawyer Philip Kramer explained, The technique as it is set up now merely does not operate. There is no accountability. There are no significant rewards or punishments. The lenders have each and every incentive to fall short. They do not disappoint in this regard.

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Offered the scope of the problem, it appears likely that something is going to have to be accomplished to address the circumstance, but legislators are locked in partisan battle, and it appears most likely that for the time being home owners in problems are going to have to struggle with the banks or seek redress in the courts.

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Its an unfortunate scenario, Philip Kramer comments, But I dont see something changing for the far better any time soon.

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http://lofgren.property.gov/index.php?choice=com_content material&amptask=view&ampid=605&ampItemid=89

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ABOUT PHILIP KRAMER&#13

PHILIP A. KRAMER is the senior companion of the Law Office of Kramer &amp Kaslow, in Calabasas, California. Kramer &amp Kaslow is Martindale Hubbell AV rated. Mr. Kramer is a perennial recipient of the prestigious Southern California Super Lawyer award.

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Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes industrial litigation and trial advocacy, with a concentration on company litigation, and genuine home matters. He has prosecuted and defended instances for more than twenty 5 years.

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Mr. Kramer is a licensed true estate broker and has spent considerable time offering legal services in connection with real estate troubles relating to loan modification and loss mitigation, land use and zoning, environmental concerns, easements, construction and development, finance, and landlord tenant matters.

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Mr. Kramer is admitted to practice before all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has attempted in excess of 200 situations. He has appeared on nationally televised applications with regards to pre-trial procedure and trial approach and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer frequently lectures on a broad spectrum of a variety of legal and organization troubles.

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Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

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Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization committed to bringing professionalism and civility back into the legal profession. He also serves on quite a few Boards of Directors and serves as an officer in many companies. For a lot more data get in touch with (818) 224-3900 or pay a visit to http://kramer-kaslow.com

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CAPTA Announces New Preferred Industrial Loan Exercise Provider

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Murrieta, CA (PRWEB) Could 05, 2011

CAPTA (California House Tax Associates) today announced they will now feature Strategic Asset Solutions/Peak Asset Options as their preferred provider of industrial true estate loan workout services. Strategic Asset Solutions/Peak Asset Solutions provides commercial loan modification and short sale solutions in California and all through the country. The companys personnel bring in depth industrial genuine estate knowledge such as market place evaluation, valuation, legal and negotiation encounter. The firm is portion of the Peak Corporate Network, a leading authority in the Real Estate business that offers a comprehensive array of actual estate solutions nationwide.*

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It was a clear option for CAPTA, stated the Vice President at CAPTA, James E. Guffey, III. With Peaks established track record and the higher priority they place on client satisfaction, we couldnt have made a better decision than naming Strategic Asset Options/Peak Asset Options as our preferred provider of industrial workouts.

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Guffey added that the selection to name a preferred provider of commercial loan exercise solutions was a essential step for CAPTA. This appointment will additional supply CAPTAs consumers with the signifies to effectively conduct company in this troubled economy. Time and time once again CAPTA has come in speak to with home owners who are struggling to preserve their heads above water. While CAPTA offers a important service in ensuring that our customers home taxes are based on present fair market place values, potentially saving them tens or hundreds of thousands of dollars Guffey states, there often time exists the need to modify their loans and preserve their properties out of foreclosure or worse, themselves out of bankruptcy.

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According to Kirk Jaffe, COO for the Peak Corporate Network, We couldnt be much more pleased with CAPTAs choice. CAPTA, like Peak, is a leader in its field, and a firm with which we are proud to be affiliated.

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The principals at CAPTA have represented thousands of home owners throughout the State of California considering that 1989. Through their effective adaptation to the ever evolving house tax appeal systems in California, their consumers have saved millions of dollars in house taxes they would have otherwise needlessly overpaid. For a lot more information about CAPTA, please visit http://www.capta1.com/.

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Strategic Asset Options/Peak Asset Solutions has over twenty years of encounter involving a variety of exercise situations, particularly these involving secured genuine estate loans. With expertise and experience in loss mitigation and workouts, they supply distinctive insight into alternative resolutions for challenging loans. Theyve represented customers in crucial negotiations to obtain profitable workouts as alternatives to foreclosure or bankruptcy. For far more information, visit http://www.strategicworkouts.com

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*The Peak Corporate Network is not a organization entity the brand represents a group of connected separate legal entities, every delivering its exclusive set of actual estate services.

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Chinese Drywall Complaint Center Launches a Vital Loan Modification Service for Florida Homeowners Stuck with Chinese Drywall

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(PRWEB) May possibly 12, 2011

The Chinese Drywall Complaint Center is attempting to provide dramatic assistance for all current Florida home owners stuck in a toxic Chinese drywall property. Their Chinese drywall inspection report is made to hopefully help Florida property owners receive a substantial loan quantity reduction from their bank, or loan servicing firm. In the instance of existing Florida home owners living with Chinese drywall, this report is created to carefully document the existence of toxic Chinese drywall in a house, or condominium, and then they will go directly to the homeowners bank, or loan servicing firm requesting a substantial loan modification based on the remediation charges, and associated costs. This, all in the hope the homeowner can receive a dramatic loan modification, from their bank, or loan servicing firm. The group says, “We think our toxic Chinese drywall inspection service will be of excellent help to Florida homeowners stuck in toxic Chinese drywall hell, including home owners, who are waiting for the Knauf Tianjin toxic Chinese drywall settlement. At this moment we believe our inspection service is the ideal hope for Florida home owners, who are stuck with toxic Chinese drywall to get any meaningful help, or help from their bank, or loan servicing firm.” For far more information interested Florida home owners can get in touch with the Chinese Drywall Complaint Center at 866-714-6466, or they can get in touch with the group via their web web site at http://ChineseDrywallComplaintCenter.Com

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The Chinese Drywall Complaint Center is warning all house buyers to not acquire any Florida residence, or condominium with out a thorough inspection for toxic Chinese drywall. The group says, “Even though toxic Chinese drywall may have been employed in new properties in Florida from 2000, until late 2008, we are really concerned about home remodeling, and or a lot more importantly storm, or hurricane broken properties in Florida. Translation-almost everything is on the table, and every single property, or condominium wants to be inspected for toxic Chinese drywall in Florida.” They say, “For residence purchasers from out of state, you need to ask your real estate agent if they are aware of toxic Chinese drywall. In the event they say-no in no way heard of toxic Chinese drywall-discover a new genuine estate agent. If a Florida home foreclosure has toxic Chinese drywall, our simplified report is created to save the purchaser tens of thousands, or hundreds of thousands of dollars. Our fundamental inspection comes with a toxic Chinese drywall remediation expense constructed into our valuation formula.” http://ChineseDrywallComplaintCenter.Com

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(United States District Court-Eastern District of Louisiana MDL Case #2047)

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Regency Financial Group Reaches Milestone by Processing Over 100 Loan Modifications Regency Monetary Group Welcomes New President and Chief Financial Officer James Clavijo, CPA to the Executive Team

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Coral Springs, FL (PRWEB) May 27, 2011

Regency Economic Group (Regency or the Organization), a mortgage broker business specializing in loan modifications, announced right now that it has properly exceeded processing over one hundred clients. In addition, James Clavijo, CPA, MA has joined the Company and will serve as President and Chief Economic Officer.

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Mr. Clavijo has over 17 years of experience in major many organizations experiencing rapid development. His encounter vast has allowed him to work with both private and public businesses that range in size from startup businesses to Fortune 500 organizations. In addition, he has assisted these companies in raising over $ one hundred million. He holds a CPA license from the state of Florida and has a Masters degree in Accounting from Florida International University, as properly as Bachelors, from the University of Florida and the University of Nebraska.

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I am excited to join a Company that is actually assisting families find a way to save their residences, stated Mr. Clavijo, my objective is to market and industry the Firm so that we may attain all the families who are not receiving the help they need in order to modify their existing loans and support them save their homes and do so at an inexpensive value.

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Mr. Clavijo joins Francisco Salvat and Robert David Conner who have effectively operated Regency because its inception in 2010.

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Regency provides assistance with processing loan modifications. Several homeowners discover that they are lost in a sea of red tape, dont have the sources, dont have the time, and are usually ignored by lenders. Several occasions homeowners are denied simply because of incomplete paperwork and incorrect submissions. This is exactly where we can help. At Regency our processors are experienced in the field and know how to attain the lenders and know how to submit the documentation essential and most importantly are your advocates in the purpose to save your home, stated Mr. Conner, we provide this service below a three step processing charge. The very first step is the account setup and software program purchase, for $ 199 charge. The second step is completed after your modification package is submitted to the lender, the fee for this is $ 299 and the third and final step is when the modification is completed and approved by the lender, a fee of $ 499 will be needed. The Firm only receives payments for perform that is performed. Regency keeps the whole processing charge upon approval beneath $ 999 and $ 795 for a prepaid discounted account setup.

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Not too long ago one of Regencys consumers supplied a testimonial: I was in foreclosure and had been denied by my Mortgage Organization three occasions for the HAMP Loan. I saw an ad on the net for The HAMP System from Regency Monetary Group. I was desperate and figured it was worth a try. I called Regency Monetary Group and spoke with a specialist by the name of Francisco Salvat. They handled the complete method from beginning to finish they assisted in analyzing the numbers and resubmitted the package to the Mortgage Organization and within a matter of four weeks it was authorized. They help decrease my interest price from 7% to 3.25% and lowered my month-to-month payment from $ 1,601 to $ 869. They also have been in a position to apply my previous due payments to the end of the loan.

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In February 2009, the Obama Administration introduced a comprehensive Monetary Stability Program to address the important difficulties at the heart of the existing crisis to get our economy back on track. A vital piece of that work is Producing Home Cost-effective, a program to stabilize the housing market place and assist struggling property owners get relief and keep away from foreclosure. The Property Cost-effective Modification Plan (HAMP) supplies eligible property owners the chance to modify their mortgages to make them much more cost-effective. More than a single million property owners have currently gotten aid below the system. The plan is on track to offer support to three to four million home owners by 2012. On March 26, the Obama Administration announced expanded flexibility for mortgage servicers to assist far more unemployed homeowners and property owners who are underwater by way of the plan. There are 5 standard inquiries you require to ask, is the residence your primary residence, is the quantity you owe on your 1st mortgage much less than $ 729,750, are you having trouble paying your mortgage, was your mortgage made prior to January 1, 2009 and is your payment far more than 31% of your gross revenue, if you can answer yes to those concerns we can support you with this system, we may possibly nevertheless be capable to assist you even if you dont qualify for this program, stated Mr. Salvat.

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About Regency Financial Group&#13

Regency Financial Group is a mortgage broker company specializing in loan modifications. Regency provides an inexpensive payment program or upfront discounted fee for account setup and software obtain and processing of loan modifications.

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For additional details please check out Regencys website at: http://www.theregencyfinancialgroup.com , or get in touch with 877-376-3827 or email helpme(at)theregencyfinancialgroup(dot)com

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This press release contains forward-hunting statements that reflect Regencys current expectations about its future outcomes, efficiency, prospects and possibilities. Statements that are not historical facts, such as “anticipates,” “believes,” “intends,” or related expressions, are forward-looking statements. These statements are subject to a number of risks, uncertainties and other variables that could lead to actual events or results in future periods to differ materially from what is expressed in, or implied by, these statements. Unless required by law, Regency assumes no obligation to update or revise any forward-hunting statements as a outcome of new details or future events.

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Quicken Loans Makes it Easier for New York Homeowners to Refinance with a CEMA Loan

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Detroit, MI (PRWEB) Might 27, 2011

Quicken Loans Inc., the 50-state lender of refinance and obtain mortgages, is providing New York property owners a a lot more cost-effective option when refinancing their residence.

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Typically, a refinance in New York indicates residents have to pay state mortgage tax on the complete new loan amount. Quicken Loans is providing customers the chance to get a Consolidation, Extension and Modification Agreement, or CEMA loan. This implies customers only have to pay taxes on the quantity of the new loan that is above and beyond their existing unpaid principal balance, such as closing fees or additional funds taken as cash out.

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While CEMA can help to reduce the amount of funds paid in New York state mortgage taxes, its crucial to note that these loans have added fees that could make them significantly less advantageous for certain customers when coupled with varying tax prices and attorney fees. Clientele must consult with their Residence Loan Expert to determine the most cost-successful path to a refinance.

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CEMA loans are only accessible on traditional, jumbo and FHA refinances.

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For far more information about CEMA loans and their positive aspects, pay a visit to http://www.quickenloans.com.

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About Quicken Loans Inc:&#13

Quicken Loans Inc. is the nations largest online retail mortgage lender and amongst the five biggest overall retail home lenders in the United States. The company closed a record $ 29 billion in retail home loan volume across all 50 states in 2010, and lately closed its 1 millionth loan. Quicken Loans employs around 3,700 group members and generates loan production from 5 web centers positioned in Michigan, Ohio and Arizona. The organization also operates a centralized loan processing facility in Michigan as well as its San Diego-primarily based One Reverse Mortgage unit. Quicken Loans ranked #1 in customer satisfaction amongst all residence mortgage lenders in the United States by J.D. Energy and Associates for 2010. QuickenLoans.com has been named Greatest of the Internet by Forbes and Cash magazines. The organization also has been named to FORTUNE magazines list of the countrys 100 Greatest Businesses To Function For eight consecutive years, ranking as high as #two, and named in the Top-15 of Computerworld magazines 100 Best Areas to Operate In Technology for six years in a row. Quicken Loans ranked #1 in the Detroit Totally free Press Leading Workplaces of 2010 List. The organization recently moved its headquarters and 1,700 of its three,700 full-time group members to downtown Detroit. For a lot more info about Quicken Loans, please check out http://www.quickenloans.com.

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About Rock Holdings Inc:&#13

Rock Holdings Inc. is the parent organization for numerous monetary services-related companies and employs more than four,000 team members. These client-focused and technologically driven companies incorporate Quicken Loans, the nations biggest on-line residence lender and One particular Reverse Mortgage unit, the fastest growing reverse mortgage lender in America Title Supply, a nationwide leader of title insurance and settlement solutions Quicken Loans Mortgage Solutions (QLMS), a mortgage origination platform servicing neighborhood banks and credit unions across the nation In-Home Realty, the preferred real estate partner of Quicken Loans that matches consumers with trusted true estate agents in all 50 states and, Quizzle.com, the on-line innovator and web site exactly where buyers manage their home, income and credit. Rock Holdings, Inc. also not too long ago moved its headquarters to downtown Detroit.

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