Banker / Lender Information

We have developed a radical new program to help people avoid foreclosure and save lenders hundreds of millions of dollars in foreclosure expenses.

The methods used are based upon 2000 years of auctioneer traditions combined with 21st century technology to deliver the ‘present cash market value’ of any property in 4 to 6 weeks. We are ‘The Industry Standard’ in real estate auctions and there has not been one time in the past five years when a greedy seller who refused the hassle free auction cash placed on the table has sold for more - not once.

Remember the golden rule of loss mitigation:
the first loss is the best and least expensive loss

When a home owner realizes they cannot afford the payments and want to avoid foreclosure is when the Cash or Collateral foreclosure alternative works. Property is entered into an auction pool where it is treated the same as private sector sellers and is aggressively marketed. The foreclosure regulations that lenders operate under were written during the great depression of the 1930's with few updates.

The regulations require basic 'tombstone ads' with a legal description of a property but no real information. Investors don't want to bid blind on the courthouse steps for a property they know nothing about so lenders are ending up with hundreds of thousands of homes they do not want to manage and market.

The Mortgage Bankers Association reports the average cost of foreclosure to a lender is $50,000.00 to $70,000.00 per home or 30% to 50% of the mortgage amount. Multiply that times the 2-million homes projected to be foreclosed upon in the next 18-months and the numbers are staggering.

Cash or collateral offers lenders and borrowers an Early Mitigation (EM) solution to deliver ‘the present cash market value’ for any property in about 6 to 8 weeks.

“Cash or Collateral” is an innovative alternative to costly foreclosures, equity erosion and risks of holding and maintaining thousands of vacant homes.

Simple Concept

• Certified Home inspection. (Collateral snapshot)
• Pre-foreclosure appraisal (valuation analysis)
• Property Triage (special needs assessment)
• Professional accelerated auction marketing program

Homes are sold at a live/Internet auction event where there are only three potential outcomes:

• Payoff and cash out everyone is made whole & paid off.
• Short sale (loss based on investors “secret” formula)
• Deed in lieu with rights of redemption waived (voluntary non-judicial foreclosure)

The most attractive feature to institutional investors and lending institutions is that a platform has been created to monetize real estate faster than traditional methods. Cash or collateral was created as a solution where the entire property recovery process is compressed into a timed event, with only three potential outcomes and no surprises to lenders or loan servicers.

The program is fully scalable to accept as much inventory as qualifies with a solid timeline and no surprise costs. We deliver cash or collateral while saving time, money and retaining dignity for the people losing their homes.

For more information, click here and fill out our inquiry form!