Many loans are tied up in securities, and banks now with adequate reserves are arranging deed-in-lieu
and short sale agreements themselves.
PRO HAFA automates every aspect of a short sale or deed-in-lieu
transaction based upon the guidelines set forth by the U.
transactions fell off sharply from a year ago.
Delshah asserts in a letter filed with the court that Asher Zamir, principal of Zamir Equities, agreed to a deed-in-lieu
only in exchange for removing his personal financial guarantee.
0m in reduction of the loan, turned the property over to the lender pursuant to a deed-in-lieu
transaction, and was relieved of the USD26.
In response to the unprecedented interest in this loss mitigation method, the West Valley, Utah-based company is offering a pre-foreclosure short sale and deed-in-lieu
However, lenders in other states should remain cautious and approach a deed-in-lieu
transaction in the same manner as if it were a real estate purchase outside of a loan context.
Other recent deals include the sale of 17 East 12th Street on behalf of The Brauser Group for a record $1,034 per buildable square foot; a 28,500-square-foot lease with technology firm IDEO at 408 Broadway, a vacant building brought to full occupancy for Urban American Land after arranging the purchase of its defaulted mortgage and deed-in-lieu
of foreclosure in 2011.
The 1925 three-story Art Deco building is located one block south of Lincoln Road's pedestrian mall and had been in the hands of private lender Pinetree Partners since March 2009, when it was acquired in a deed-in-lieu
of foreclosure from developer Neptune Premier Holdings.
The automated portfolio review tool, which provides risk management from early risk detection through loss mitigation by automating the review, analysis and management of any size portfolio, now includes short sale, foreclosure and deed-in-lieu
activity showed a decline of 20 percent in November compared with October.
If history repeats itself, we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short sale and deed-in-lieu
of foreclosure alternatives works.