Tag Archives: Successfully

Equity Primarily based Solutions, Inc. Successfully Extends Self Storage Construction Loan

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Phoenix, AZ (PRWEB) September 21, 2009

Equity Based Services, Inc. (“EBS”) announced nowadays that they have effectively renegotiated an extension to an current construction loan. The original loan was utilized to construct a Class-A, 2-storey expansion to the EZ Store facility in Peoria, AZ a suburb of Phoenix.

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The three year building loan with Imperial Capital Bank came due this month and was extended for an extra year at substantially the same terms. The interest price remains at Bank of America Prime + 50 basis points and amortized more than 25 years.

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EZ Shop received its Certificate of Occupancy on January 20th of 2008 and began rental activity on February 1, 2008. As of the refinancing, the new facility has achieved 79% occupancy by square foot. Full stabilization is anticipated by the time the loan matures which need to facilitate the straightforward and straightforward placement of permanent financing.

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“This loan extension shows that there is pragmatic optimism in the commercial lending markets and that lenders are being affordable with modifying loan terms on projects that make financial sense. The financial landscape still makes sense for offers that make sense,” states Troy Downing, Principal Equity Primarily based Solutions, Inc.

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“In today’s atmosphere, the ability to refinance or extend a loan is driven by the Lender’s perception of an operator’s experience, professionalism, and the constant execution of a nicely thought out organization strategy.” States Stephen Kaplan, CEO, Equity Based Solutions. “A loan modification that does not involve a reduction of principal, a greater interest rate, or further collateral requirement validates an Operator’s ability to perform in a down or receding economy.”

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About Equity Primarily based Services, Inc &#13

EBS is a Private Actual Estate Business specializing in the acquisition and management of self-storage home. According to the Mini-Storage Messenger, EBS is one particular of the best owner/operators in the US. EBS currently owns and operates 63 Self-Storage properties in 11 states with a current marketplace worth of a lot more than $ 300 Million. EBS also manages a family members of Private Equity Funds for institutional and higher net worth person investors. The EBS Income Fund, the EBS Revenue and Growth Fund II, and the Pilot Equity Value Added Fund all closed in 2007. For far more details, make contact with Kurt Ambrosius at 619-220-6700.

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This Press Release is for informational purposes only and does not, in any way, constitute an providing to buy or sell securities.

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Connected Loan Modification Services Press Releases

Michigan Mortgage Negotiators Offers Cost-free Seminar On “The Six Legal Ways to Keep away from Foreclosure” and how to Successfully Modify your Mortgage

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Grosse Pointe, MI (PRWEB) September 23, 2010

Did you know that 85% of all property mortgages written amongst 2000 and 2008 have a single or more substantial violations of federal or state law that will assist you get your mortgage modified.

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The seminar will also offer an in-depth appear at mortgage modifications and offer participants with info on how to get a successful and beneficial loan modification. The seminar will cover the Truth in Lending Act (TILA) and the Genuine Estate Settlement Procedures Act (RESPA) and how minor violations of either act can give the homeowner powerful leverage in dealing with their bank or mortgage lender. Mark Wilk Law will also discuss forensic loan audit techniques and its value as a tool to assure a successful modification or, in some situations, providing the homeowner the chance to cancel their mortgage and receive a full refund of all money paid to the lender from the starting of the mortgage.

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According to attorney, Mark Wilk, founder of Michigan Mortgage Negotiators, 85% of all mortgages written in between 2000 and 2008 have a single or far more important violations of federal or state laws. It is these violations that give the avenue for homeowners to receive a quick and advantageous mortgage modification.

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Banks and mortgage lenders have no incentive to take a proactive method in assisting property owners solve their economic problems mentioned Wilk. Banks would rather put a family members out on the street then attempt to find a way to hold the loved ones in their property and nevertheless gather some income.

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Our seminar makes it a lot less complicated for home owners to learn about the possibilities and tools obtainable to support them by means of their financial issues from an organization devoted to serving the homeowners demands rather than trying to pick up data on their own. Wilk added. If the homeowner invests two-hours listening to the material presented, he or she will know enough to be capable to make the decisions needed to save their house, cease foreclosure and get back on strong monetary ground.

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To register for this totally free seminar on Saturday, October 9, 2010, please pay a visit to our net site at http://www.markwilklaw.com and click on UP-COMING EVENTS to register, or call us at 586-404-0076. Pre-registration is suggested.

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Michigan Mortgage Negotiators, LLC, a division of Mark Wilk Law, PLLC, and its attorneys offer mortgage modification, forensic loan auditing and litigation solutions to home owners in Wayne, Macomb, Oakland, and Livingston counties of Michigan who are in need of a mortgage loan modification to save their residence from foreclosure. We also supply litigation services to homeowners who are the victims of predatory loan practices, unscrupulous brokers and mortgage lenders.

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If you would like a lot more data about this subject, or to schedule an interview with lawyer Mark Wilk, please get in touch with Mark at 586-404-0076 or e-mail him at markwilklaw(at)att(dot)net.

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Objective and Thorough Property Valuation Evaluation Is Crucial To Successfully Negotiating With Commercial Mortgage Lenders According to Kevin M. Levine

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Woodland Hills, CA (PRWEB) March 21, 2011

An objective and thorough house valuation evaluation is the important to a profitable negotiation with industrial real estate mortgage lenders, stated Kevin Levine, Executive Vice President of Strategic Asset Solutions/Peak Asset Options of Woodland Hills, California. Several distressed loan borrowers think that they can submit just any proposal to modify the loan or conduct a quick sale of the house, Levine stated. And numerous potential actual estate investors submit delivers to obtain mortgaged properties or buy mortgage loan notes from lenders at really low prices. Sometimes those proposals are successful but generally they are summarily rejected by the lender.

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Levine explained that borrowers or potential purchasers usually submit a very low figure proposal, believing that will smoke out the lender and stimulate a counter provide. That response doesnt happen extremely often, he said. A lender usually avoids, in impact, bidding against itself. Levine explained that the lender need to be convinced the proposed loan modification, brief sale or note purchase will make an end result at least equal to what the lender will comprehend upon foreclosure. This can only be carried out by supplying the lender with a quite thorough house valuation evaluation, Levine stated.

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We devote considerable time and work gathering existing industry information and operating data about the house. If there are tenants, we analyze their rental rates in comparison with industry prices, he stated. Important elements relating to tenants are the remaining terms of their leases, the likelihood of renewal, and their anticipated rental renewal prices which may effectively fall below the existing prices. So even if the occupancy is fairly higher now and the property is producing sufficient earnings to service the debt, taxes and maintenance, that may possibly not be the case in a few months.

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Levine commented that properties occupied by the borrowers operating organization need an examination of the company economic functionality. The home owners enterprise could be declining swiftly in this economy, Levine added. In such a non-arms length situation, the enterprise will not be in a position to pay the contracted rent. An option and realistic rental price most likely will be drastically lower, diminishing the value of the house.

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Levine stated that lenders usually welcome and appreciate receiving an objective and thorough valuation analysis. They typically then will have the house reappraised but the valuation evaluation we give them creates a benchmark and provides a basis for contesting the reappraised value if that becomes needed.

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Strategic Asset Solutions/Peak Asset Solutions delivers commercial loan modification and brief sale services in California and all through the country. The companys personnel bring in depth industrial real estate experience to every single assignment, such as market analysis, valuation, legal, and negotiation encounter. Each borrowers unique lending situation is completely analyzed, and the borrower is assisted in preparing current operating reports and projections. Then Strategic Asset Solutions/Peak Asset Solutions drafts and submits to the lender a loan modification proposal. That proposal could contain a principal reduction, interest price reduction, and waiver of penalty charges. In those situations exactly where a loan modification will not function to the mutual advantage of the borrower and lender, Strategic Asset Solutions/Peak Asset Options will try to broker a quick sale of the commercial actual estate at a significant discount from the loan balance, or will seek to negotiate a sale of the note to a third-party.

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Strategic Asset Options/Peak Asset Options is a member of the Peak Corporate Network headquartered in Woodland Hills, California. In addition to industrial loan modifications, the Peak Corporate Network provides mortgage lending, loan servicing, residential quick sale, 1031 exchange, trustee operate, foreclosure solutions, and true estate sale brokerage solutions. These solutions are available mostly all through the Western United States for each residential and industrial real estate properties and loans.

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Strategic Asset Solutions/Peak Asset Solutions Successfully Negotiates Industrial Quick Sale in North Hollywood, California

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Woodland Hills, California (PRWEB) November 21, 2011

Strategic Asset Options/Peak Asset Solutions (http://www.strategicworkouts.com) was recently effective in negotiating a short sale of an workplace creating in North Hollywood, California. According to Executive Vice President, Kevin Levine, “This sale highlights all the reasons why commercial actual estate lenders are prepared to make offers.” He continued, “We worked on this transaction for about eighteen months. The borrower’s business was declining and it was unable to make its loan payments and genuine estate industry situations in the location were deteriorating as properly. The lender was faced with obtaining to repossess the building and sell it at a price tag drastically less than its loan balance.”

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Strategic Asset Solutions/Peak Asset Options had 1st attempted to negotiate a loan modification, lowering the borrower’s monthly payments. But the borrower’s worsening economic predicament precluded it from performing effectively even under the modified loan terms. “If the lender does not perceive that the loan modification will allow the borrower to meet its debt service obligations,” stated Levine, “it will be much better off foreclosing and gaining control of the house. Lenders don’t enter into loan modifications out of habit or solely to accommodate borrowers in the short run. A lender must be convinced that a proposed loan modification will make an finish result at least equal to what the lender will understand upon foreclosure. This can only be completed by delivering the lender with a quantified program displaying a concrete improvement in the general status of the loan inside a reasonably short period of time.”

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“When we saw that a loan modification would not advantage either the borrower or the lender, we switched to the short sale alternative,” explained Levine. “The lender was prepared to consider a quick sale as soon as we had provided a thorough home analysis convincing them of the property’s low worth. Ultimately, the lender accepted a sale cost that realized about fifty percent of its loan balance.”

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Levine commented that if there had been a strong guarantor, the lender would have been considerably much less prepared to approve a quick sale resulting in a fify percent loss. However, the guarantor of this loan was insolvent so the lender could not appear to the guaranty as a supply of recovery, Levine added. As soon as the lender accurately perceived its true situations, it responded really rapidly to the quick sale supply and the transaction closed in just two weeks.

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Strategic Asset Solutions/Peak Asset Options delivers industrial loan modifications and quick sale solutions in California and throughout the country. The company’s personnel bring in depth industrial real estate expertise to each and every assignment, which includes industry evaluation, valuation, legal and negotiation encounter. Every single borrower’s unique lending situation is totally-analyzed, and the borrower is assisted in preparing present operating reports and projections. Strategic Asset Options/Peak Asset Solutions then drafts and submits a loan modification proposal to the lender. That proposal might incorporate a principal reduction, interest rate reduction, and waiver of penalty charges. In those situations exactly where a loan modification will not function to the mutual advantage of the borrower and lender, Strategic Asset Solutions/Peak Asset Solutions will attempt to broker a brief sale of the commercial real estate at a substantial discount from the loan balance, or will seek to negotiate a sale of the note to a third party.

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Strategic Asset Options/Peak Asset Solutions is 1 of the entities in the Peak Corporate Network headquartered in Woodland Hills, California. In addition to industrial loan modifications, the Peak Corporate Network entities offer mortgage lending, loan servicing, residential short sale services, 1031 exchange, trustee function, foreclosure solutions, genuine estate brokerage and escrow solutions. For more information, pay a visit to http://www.peakcorp.com

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The Peak Corporate Network is not a company entity the brand represents a group of related separate legal entities, each supplying its exclusive set of true estate solutions.

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Independent Foreclosure Review Checks Cashed Or Deposited Successfully Total two.3 Billion

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Minneapolis, Minnesota (PRWEB) Might 26, 2013

The Office of Comptroller on the Currency (OCC) just released news that Foreclosure Evaluation compensation checks currently cashed or deposited add up to $ 2.3 billion, as of Could 23, 2013. As efforts continue to correct foreclosure poor practices, property owners who uncover they have a good check to money are glad they are not bouncing as preceding ones have.

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“Numerous of the Independent Foreclosure Evaluation check recipients are property owners who had to face and make some truly hard choices along the way. Although it is possibly not enough to be a deposit down on yet another house obtain, it can help start saving toward that finish. The checks are an acknowledgment that a genuine concern exits to help cease foreclosure wrongs and put some funds back into the hands of these who may possibly have born the unnecessary burden of losing their home,” states Jenna Thuening, owner of Home Destination.

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The effectively cashed or deposited checks total nearly $ 2.three billion by means of May 23, 2013. All round, more than three.9 million individual checks have been sent out to eligible borrowers, totaling far more than $ 3.4 billion. The OCC press release stated a guarantee also: “A final wave of checks that required additional details from the borrower will be issued in the course of the summer season.”

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In an work to correct foreclosure practices in the really sensible manner of compensating struggling households hurt in some manner by a foreclosure activity, the payments will range from $ 300 to $ 125,000, according to the OCC updated net page. The very first wave of Independent Foreclosure Evaluation checks was released on April 12, totaling 1.four million in dispersed checks. The final wave is anticipated in mid-July 2013. Far more data posted April 9, 2013 can be found on the OCC site below the heading “Payments to four.two Million Borrowers Covered by Foreclosure Agreement to Start April 12”.

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To make certain that the checks are being cashed by the intended recipient, institutions exactly where the checks are presented are sent notice that to assist avert fraud, foreclosure checks call for optimistic identification before cashing or depositing. According to the OCC, guidelines are supplied clearly on the back of the checks to assist banks validate authenticity.

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Minnesota Foreclosure Review checks are arriving in the mail to designated property owners from the Independent Foreclosure Evaluation settlement paycheck fund to compensate homeowners who have been impacted by foreclosures in 2009 and 2010. According to the Workplace of Lawyer Basic Lori Swanson, two diverse sources are sending foreclosure compensation checks and they need to not be confused. “There is a separate, additional settlement between a quantity of banks and the Office of the Comptroller of the Currency and the Federal Reserve.”

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“Rust Consulting is also the Settlement Administrator for that settlement, and some payments have recently gone out under that settlement. Please know that this settlement is not connected to the National Mortgage Settlement, and if you are eligible for a payment under the National Mortgage Settlement, you will obtain another check from Rust Consulting. We recognize that Rust Consulting will not be sending out checks in the National Mortgage Settlement until June 2013 at the earliest,” explains the Minnesota Office Of Attorney Basic.

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Rust Consulting acknowledged a “clerical error” triggered some checks to bounce in a Might 8th press release titled “Rust Gives Update on Independent Foreclosure Evaluation Settlement Payments”. Rust receives no benefit from uncashed checks or remaining funds in the IFR fund and has handled more than 100,000 calls currently in an try to answer questions and soften issues.

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Queries pertaining to receiving a check must be addressed directly to Rust Consulting. Rust Consulting is designated by the Federal Reserve and the OCC to be the one to respond to correspondence required about Foreclosure Review Checks being cashed or deposited, or any other associated questions. Inquiries can be made by calling 1-888-952-9105, Monday via Friday, eight a.m. – ten p.m. or Saturday, 8 a.m. – five p.m.

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Concerns to help cease foreclosure, or for ideas to avoid foreclosure or how to navigate in the Minnesota foreclosure timeline, get in touch with Property Destination at 612-396-7832 to achieve guidance. Jenna Thuening helps each purchasers and sellers make Twin Cities true estate choices and is committed to support families keep powerful collectively and remain in their homes if facing foreclosure.

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