Through our whole loan investment program, we employ two primary strategies. The first is a homeowner retention program whose purpose is to keep struggling borrowers in their homes. We identify borrowers who are doing their best to solve their mortgage deficiencies, but need a little extra help. In this scenario we work to reduce principal balances, forgive arrearages, or reduce interest rates in order to align the balance of loan with the true value of the property and the borrower’s ability to pay.
Our second strategy targets vacant non-performing loans. Here the purpose is to foreclose and deliver an REO to our investor/partners as quickly as possible. Not being in the business of kicking people out of their homes, we target assets that are already vacated. Once the asset is REO, we either renovate and resell to owner occupants, tuck away in a rental portfolio, or offer to our investor partners.
Our Acquisition Criteria:
Property is owner occupied
Property is in a negative equity position
Delinquencies greater than 6 months past due
Acquisitions range from 65%-75% of As Is Broker Price Opinion (BPO) value
Home Values range from $40,000 to $500,000
Volume can range from 10-25 loans per transaction/per month
If you’d like to learn more about our Whole Loan investments, please contact Wade Carroll at (281) 788-1009 or via email at WCarroll@AndersCapGroup.com