American Homeowner Preservation and Millstone Landing Collaborate to Lease Option Homes

American Homeowner Preservation LLC, pioneers of the short sale leaseback to assist families at risk of foreclosure, has entered into an agreement with Millstone Landing LLC, the owners of a gated 613 single family development in Vero Beach, Florida, to offer lease options to credit-worthy buyers who cannot obtain financing in today's tight credit environment. Millstone Landing features newly-built quality homes nestled amongst lakes and a nature preserve.

The original developer, Shelby Homes, ended up in bankruptcy after defaulting on a construction loan amounting to $370,000 per home. In 2008, the average sales price of a Millstone Landing home was $618,000. Today, these same homes are offered new for under $260,000, and AHP investors can acquire for $155,000 subject to the leases and options to the end-user buyers. Typically, the end-user buyers are paying Millstone Landing a 10% option deposit and receive a two-year option and two-year lease. The monthly payments average $1,900 monthly, with $900 being credited to the eventual purchase.

For example, a British airline captain, who earns $120,000 annually from his six-year position with BMI Airlines, is under contract to purchase a 3,200 square foot Millstone Landing home for $235,000. Having difficulty qualifying for financing due to their foreign national status, this family wants to execute a lease and option now in order to take advantage of today's depressed prices. After paying a $30,000 deposit, this family can exercise their option to purchase anytime over two years by paying the remaining $205,000. The AHP investor buys the home for $155,000 and receives $1,905 monthly. When the option is exercised, AHP's investor receives $170,500, AHP receives their program fee of $7,750 and the subdivision owner receives the remaining $26,750 minus the $900 monthly credited towards the option price.  In this case, the captain intends to sublet the home until relocating in the future. Similar homes nearby lease for $1,400 - $2,250. The projected annual return to AHP's investors is 16%.

"If financing was readily available, we would be sold-out. However, many prospective buyers cannot qualify for financing, despite strong income and positive credit histories. Thus, American Homeowner Preservation's Lease Option program is a tool which enables us to sell our homes faster. We do take a bit of a hit on the pricing in order to deliver the yield AHP's investors require, plus we have to defer some of our return," said Brian Plunkett, one of Millstone Landing's principals. "Still, the ability to promptly move our inventory and save many months of holding costs makes AHP a good solution for Millstone."

"We are delighted to expand the use of AHP's Lease Option model, particularly at a high-caliber development such as Millstone. The U.S. housing market will remain weak until the excess inventory is sopped up. With a dire lack of financing, many families are unable to take advantage of  today's depressed pricing," said AHP's Director Jorge Newbery. "AHP's Lease Option program fills a void, getting families into homes at attractive prices and terms, facilitating the rapid disposition of inventory by subdivision owners and generating strong returns for AHP's investors." 

American Homeowner Preservation Helps Keep Veterans In Their Home

We came across AHP while out looking for a place to rent since our house was scheduled for sheriff's sale. We had been working for months with a loan modification company. The only thing they did for us was take our money. We told our story to the landlord of a prospective rental home and he hooked us up with AHP. We can never thank him or AHP enough. AHP and Jorge Newbery went above and beyond to help us stay in our home. We now have the opportunity to purchase our home back in a few short years. My husband and I settled in our home after returning from military service overseas. Our children have grown up here and we have all established deep roots in the community. It would have been devastating to move. Thankfully, we no longer have to worry about that. We did plant our Blossoming Cherry tree that we promised our children if we stayed here. It is very beautiful and has blossomed for the first time this summer. I would tell others going through the same thing that we did to not give up. They should not allow their desperation to steer them in the direction of unscrupulous loan modification companies. AHP is the all that they say they are and then some. Thanks to the grace of God and AHP we are able to stay in our home and continue making memories.

We Saved Another One!!

AHP helped us save our home. Without the help of GOD first, AHP and the our real estate lawyer, the bank would of foreclosed on our home. I was laid off of my job in December 2010 and could not qualify for any bank program, which we couldn’t afford anyway. My husband and I owed $192,000 on our home and AHP negotiated the sale for $60,000, approx 70% savings. Now we can get our home back at an affordable price and we never had to move. Our friends and family didn’t believe the program would work, but now they have seen the results for themselves. The people at AHP really work hard for their clients. I have never seen such wonderful customer service and dedication in the owners and staff at AHP. We are constantly recommending AHP to our friends and family who are facing a similar situation. 

American Homeowner Preservation Acquires 6.6MM of Non-Performing Mortgages

American Homeowner Preservation LLC completed over $6,600,000 in non-performing mortgage and REO acquisitions in June, bringing year-to-date acquisitions to over $10,000,000.  AHP has utilized private investors to fund these acquisitions from both banks and hedge funds. By taking control of the mortgages or occupied REOs, AHP can craft solutions to keep families in their homes. Thus far, AHP has cut monthly payments by an average of almost 40% and provided options to families to repurchase their homes at prices averaging 63% less than their prior mortgage balances.

"Each family has a unique set of circumstances, dictating customized resolutions," said AHP Director Jorge Newbery.  "Traditionally, government, banks and servicers have tried to apply one-size-fits all solutions to these millions of families, and the results have been disappointing for all. AHP approaches each family, asks them what they want and what they can afford, then concocts a solution which makes sense for the family, AHP and our investors.  AHP's priority is what makes sense for the family, not what makes the most money for AHP or our investors.  We can provide fantastic solutions for struggling families and still generate strong returns for AHP investors. The two are not mutually exclusive."

AHP's most common fix is a short sale leaseback of the home to an investor who agrees to provide an affordable lease and favorable repurchase option to the family. AHP provides counseling during the five years lease term to maximize the likelihood that the family will qualify for financing to repurchase.  "I wasn't able to pay my mortgage because I lost my warehouse job at a supermarket. The company closed after I worked there two years. AHP really does help people to not lose their homes," said Antonio Diaz of Dallas, whose monthly payment dropped from over $800 to $461 and who can repurchase for $19,780 the home which previously secured his $59,850 mortgage.

Unlike many mortgage holders, AHP encourages non-arm's length transactions.  One Indianapolis family owed over $100,000 on their mortgage. When AHP offered to have an investor buy the home for $22,000 and leaseback to the family, the homeowner proposed that his brother come up with the $22,000.  "My brother was able to buy my house and now I'm now renting from him. I wasn't able to pay my mortgage because I lost my job after the company shut down. I was there for four years, then my interest rate increased and my lender wouldn't let me do a loan modification. Now I paint houses but, unfortunately, there's not a lot of work or money. Still, I can pay the rent that was set up with my brother and AHP. I'm very pleased how everything turned out," said former homeowner turned renter Martin Jiminez.

In some cases,  AHP can cut principal and modify the loan. "I feel like this was an answer to my prayers. I work as an interventionist for Memphis City Schools during the school year, but these past summers I haven't found a summer job. I ended up using all my savings and not being able to afford my home. The whole AHP staff was very instructional," said Angela Johnson, whose $59,000 mortgage balance was reduced to $24,000 and $750 payment dropped to $400.

AHP has agreements to acquire over $19,700,000 in defaulted mortgages in July. "The banks and hedge funds selling these nonperforming mortgages want reliable buyers who close on time at fair prices. As we continue to perform, we are being offered larger and larger pools," continued Newbery.  "We look forward  to keeping  more and more struggling families in their homes with realistic long-term solutions, while providing our investors the ability to earn favorable returns in a socially responsible manner."

American Homeowner Preservation can be contacted at (800) 555-1055 or www.ahphelp.com.

Foreclosure Prevention Event Hosted by American Homeowner Preservation Director

Jorge Newbery, director of American Homeowner Preservation, will be presenting a free "Facing Foreclosure?" workshop in the Pleasant Ridge neighborhood of Cincinnati on Thursday, June 23rd, at 6:30 p.m. Homeowners at risk of foreclosure are invited to attend and learn more about the foreclosure process and resources available to avoid foreclosure and stay in their homes.
"Educating homeowners about their options is critical to keeping families in their homes," said Newbery. "Every family has a unique set of circumstances, dictating a customized resolution. Government, banks and servicers have tried to apply one-size-fits-all solutions to these millions of families, and the results have been miserable for all involved. The solutions offered to families are tailored as solutions for the banks and then are imposed on the families. The reverse is what works: find a solution for each individual family, and then try to make it work for the bank."
Ohio ranks with the 11th highest state foreclosure rate in the nation with one in every 486 Ohio housing units receiving a foreclosure filing in November 2010, according to Realty Trac, In addition, 21.6 percent of the 2,200,773 mortgages in Ohio are secured by homes worth less than the mortgages, according to Core Logic's 2010 Negative Equity Report.
Newbery is Director of American Homeowner Preservation which, since 2008, has helped dozens of Ohio families save their homes as a result of foreclosure prevention efforts. "I have four children and do everything I can to fight and hold on while looking for work and maintaining the home for my children," said David Droge, 47, who was assisted through the AHP program. Laid off from his job in flight operations and owing $201,000 on his Akron home now worth under $100,000, "I was left with not many options" to pay the $1,700 mortgage payments. American Homeowner Preservation was able to get Droge's existing lenders to approve his short sale and Droge's lease payments are now $958 plus he has a recorded option to repurchase his home for $59,668.
Many families do not fare as well as Droge due to resistance by many lenders to provide equitable solutions for families. Still, this workshop will discuss steps which struggling families can take in order to maximize the likelihood of keeping their homes. The event will be held 6:30 p.m. - 7:30 p.m. Thursday, June 23rd at the Pleasant Ridge Community Center, 515 Ridge Avenue in Cincinnati.

Real-Life Working Miracles

f real people with real hearts ran the big banks, then America could be a much better place. We should be proud when AHP investors make gestures such as this...

The Tipton Trust has instructed Ms. Johnson to
NOT pay the $400 for June...Use instead as
charitable donation to her church for flood and tornado
relief in the Memphis area...The least the trust could
do for all the misery in her town...

How to Qualify for Mortgage after Short Sale or Foreclosure

Millions of American families have emerged from the housing crisis with severely damaged credit. Short sale, foreclosure, delinquency, deed in lieu, mortgage modification and/or bankruptcy can all have significant negative impacts on a family's credit. In most cases, families will need to wait two to three years before qualifying for a new mortgage.

During this wait period, families will need to reestablish their credit and finances utilizing tools such as credit repair, secured credit cards, alternative credit and budgeting.

Credit repair services such as Lexington Law offer to "legally repair your credit and raise your credit score by removing bad credit." This generally involves disputing negative entries on your credit report with the expectation that these items will be reported more favorably or removed altogether. Lexington's fee is $99.95 to set up, then $49.95 - $89.95 monthly, depending on the service level chosen. There are many similar services and you can even dispute items on your own by obtaining a free credit report and writing letters to creditors disputing what they report. The goal is to increase the credit score to at least 620 - 640, which is the minimum to qualify for FHA financing.

Secured credit cards can be used effectively to increase credit scores. With a secured credit card, you deposit an amount in a bank account and then receive a Visa or Master Card with a credit limit equal to the deposit. For instance, you deposit $200, and then you can use the credit card for up to $200. You cannot withdraw your $200 until you close the account, or your issuer allows your credit card to become unsecured due to improvement in your qualifications.

Obtaining three secured credit cards with modest deposits is typically most effective. Use the cards frequently and pay at least the minimum payment each month but, for best results, do not pay off. Carry a balance and have new charges on each card every month. You are building a track record of responsible usage and regular payments, which reports more positively than non-use or paying off each month. These cards all report to the credit bureaus without distinction between a secured or unsecured credit card. One caution: expect fees to be high relative to unsecured credit cards, as well as typically higher rates of interest, with some even requiring a fee if you make your online payment less than two days before the due date. Nevertheless, secured credit cards can represent a pro-active and cost-effective means to improve your credit score.

Alternative credit such as positive payment histories from landlords, utility providers, cable TV and similar creditors may not show up on a credit report, but can be powerful evidence of families' restored creditworthiness. Typically, FHA will accept alternative credit in their underwriting. 

Crafting a budget and listing every dollar of income in one column and every dollar of expense in another is useful in helping families more easily identify expenses which can be reduced or eliminated. The extra funds may be needed: although down payments on FHA and similar programs are still in the 3 - 5% range, lenders may require larger down payments in the future. However, the steep price declines in many markets may help offset these increases: a 5% down payment on a 2006 $150,000 Florida home equaled $7,500, which equates to a 20% down payment on the same Florida home selling in 2011 for $37,500. 

Families with credit damaged as a result of the housing crisis are encouraged to start the rebuilding process early and to remain disciplined in executing their plan. The modest extra effort to make the right choices each day may well be rewarded with a relatively prompt return to homeownership.

American Homeowner Preservation Helps Short Sale Families Qualify for Mortgages

American Homeowner Preservation helps keep families in their homes by arranging short sales to investors, who provide affordable leases and favorable repurchase options to the selling families. Most families participating in AHP's program have severely damaged credit and will need to wait at least two to three years before qualifying for a new mortgage. During this wait period, families can maximize their likelihood of qualifying to repurchase by reestablishing their credit and finances utilizing tools such as credit repair, secured credit cards, alternative credit and budgeting.

Credit repair services such as Lexington Law offer to "legally repair your credit and raise your credit score by removing bad credit." This generally involves disputing negative entries on your credit report with the expectation that these items will be reported more favorably or removed altogether. Lexington's fee is $99.95 to set up, then $49.95 - $89.95 monthly, depending on the service level chosen. There are many similar services, and one can even dispute items themselves by obtaining a free credit report and writing letters to creditors disputing the charges. The goal is to increase the credit score to at least 620 - 640, which is the minimum at which you may qualify for FHA financing.

Secured credit cards can be used effectively to increase credit scores. With a secured credit card, you deposit an amount in a bank account and then receive a Visa or Master Card with a limit equal to the deposit. For instance, you deposit $200, and then you can use the credit card for up to $200. You cannot withdraw your $200 until you close the account, or your issuer allows your credit card to become unsecured due to improvement in your qualifications.

Obtaining three secured credit cards with modest deposits is typically most effective. Use the cards frequently and pay at least the minimum payment each month but, for best results, do not pay off. Carry a balance and have new charges on each card every month. You are building a track record of responsible usage and regular payments, which reports more positively than non-use or paying off each month. These cards all report to the credit bureaus without distinction between a secured or unsecured credit card. One caution: expect fees to be high relative to unsecured credit cards, as well as typically higher rates of interest, with some even requiring a fee if you make your online payment less than two days before the due date. Nevertheless, secured credit cards can represent a pro-active and cost-effective means to improve your credit score.

Alternative credit such as positive payment histories from landlords, utility providers, cable TV and similar creditors may not show up on a credit report, but can be powerful evidence of families' restored creditworthiness. Typically, FHA will accept alternative credit in their underwriting.

Crafting a budget and listing every dollar of income in one column and every dollar of expense in another is useful in helping families more easily identify expenses which can be reduced or eliminated. The extra funds may be needed: although down payments on FHA and similar programs are still in the 3 - 5% range, larger down payments may be required. However, the steep price declines in many markets may help offset these increases: a 5% down payment on a 2006 $150,000 Florida home equaled $7,500, which equates to a 20% down payment on the same Florida home selling in 2011 for $37,500

Families with credit damaged as a result of the housing crisis are encouraged to start the rebuilding process early and to remain disciplined in executing their plan. The modest extra effort to make the right choices each day may well be rewarded with a relatively prompt return to homeownership.

To learn more about American Homeowner Preservation, visit www.ahphelp.com or call 800-555-1055.

American Homeowner Preservation celebrates third year in Cincinnati

American Homeowner Preservation (AHP) commemorated its third year in Cincinnati with a brief gathering at the Roselawn offices.

AHP administers a novel foreclosure prevention program providing long-term solutions to families at risk of foreclosure. Originally a 501c3 nonprofit organization when the offices were opened in May 2008, AHP transitioned to a for-profit entity in July 2009.

AHP has successfully arranged almost 150 short sale leasebacks in which investors purchased the homes of families in distress and provided the families affordable leases and favorable repurchase options to stay in their homes.

Monthly housing payments are reduced by an average of 40 percent and families can repurchase at prices averaging less than half their prior mortgage balances.

AHP has assisted families in Ohio, Arizona, California, Florida, Georgia, Indiana, Michigan, Missouri, Nevada and Wisconsin.

In order to expand their program, AHP has recently began acquiring pools of defaulted mortgages and occupied REOs from banks and other lenders, and then offering AHP's program to the borrowers who want to stay in their homes.

"AHP's growth has been constrained by the slow, inefficient and frequently unsuccessful short sale process which many servicers offer," said AHP Director Jorge Newbery.

"However, by buying pools of nonperforming mortgages, we remove the servicers from the equation and can expeditiously craft solutions to keep families in their homes," Newbery said. "We are encouraged by the opportunities which are unfolding and look forward to many more years in Cincinnati."

Ohio ranks with the 11th highest state foreclosure rate in the nation with one in every 486 Ohio housing units receiving a foreclosure filing in November 2010, according to Realty Trac.

In addition, 21.6percent of the 2,200,773 mortgages in Ohio are secured by homes worth less than the mortgages, according to Core Logic's 2010 Negative Equity Report.

AHP charges no fees to homeowners. Families seeking assistance can visit www.ahphelp.com or call 800-555-1055.

American Homeowner Preservation Cartoon!

American Homeowner's Michelle Weadbrock Online- Interview

Listen to internet radio with RealTechGuy on Blog Talk Radio

American Homeowner Preservation Recognizes Outstanding Employee Denisse Bays

American Homeowner Preservation recognized the superior performance of Denisse Bays, recently promoted to Transaction Coordinator. Michelle Weadbrock, previously commended for fantastic service, handed off the AHP "Outstanding Employee" Cup to Mrs. Bays in a  brief ceremony. AHP offers a novel foreclosure prevention program designed to keep families at risk of foreclosure in their homes. AHP negotiates with existing lenders to approve short sales to investors, who provide affordable leases and favorable repurchase options to selling families. Families then receive counseling to prepare them to qualify for financing to repurchase within the 5-year option period.

"I really admire what is done here for families in need, and I'm definitely glad to be part of this team," said Bays. "I am pleased to be recognized for my contribution to AHP." Originally from Venezuela, Bays has lived in the Cincinnati area for three years. She resides in Kentucky and doesn't mind braving the traffic every morning and afternoon to come to work, where she knows she is making a difference. After a long day at work she goes home to her husband and kids and likes to relax watching American Idol or occasionally going out to dance.

"Denisse rapidly builds rapport with AHP clients and has shown a great talent for helping solve families' housing predicaments. She is detailed, focused and determined. Being bilingual has been particularly helpful, as AHP has a great deal of Spanish-speaking clients," said AHP Director Jorge Newbery. "We are thrilled to have Denisse on AHP's team."

Close to 140 families across the U.S. have found permanent solutions to their housing dilemmas through American Homeowner Preservation. Monthly housing payments are reduced by an average of 40% through AHP's program. In addition, families can repurchase their homes at an average of less than half of their prior mortgage balances.  Interested families are encouraged to visit www.ahphelp.com or call 800-555-1055 to learn more.

BBB: American Homeowner Preservation Gets an 'A'

CINCINNATI, OH - April 12, 2011 –

The Better Business Bureau recently gave foreclosure prevention company American Homeowner Preservation (AHP) an "A" rating. AHP provides a short sale leaseback program to families who owe more than their homes are worth.  When existing lenders approve, families are able to short sell and stay in their homes with lease payments averaging 40% less than prior mortgage payments. In addition, participants receive an option to repurchase their homes at amounts averaging 54% less than what was owed on their underwater mortgages

"Every family has a unique set of circumstances, dictating a customized resolution. Government, banks and servicers have tried to apply one-size-fits-all solutions to these millions of families, and the results have been miserable for all involved," said American Homeowner Preservation Director Jorge Newbery. “The solutions offered to families are tailored as solutions for the banks and then are imposed on the families. The reverse is what works: find a solution for each individual family, and then try to make it work for the bank," Newbery continued. "We are encouraged by the 'A' rating from the BBB."

23% of all residential properties with a mortgage are underwater with an aggregate $750 Billion Dollars of negative equity, according to a March 2011 CoreLogic report. "The 11.1 Million homes at risk of foreclosure could result in the largest displacement of American families in history," said AHP's Michelle Weadbrock. "Our goal is to keep these families in their homes with affordable leases and favorable options."

AHP does not charge fees to homeowners. Families seeking assistance are encouraged to contact AHP at (800) 555-1055 or www.ahphelp.com.

Contact:
Jorge Newbery
American Homeowner Preservation
800-555-1055
Email

American Homeowner Preservation Short Sale-25

An AHP homeowner explains his struggles and how American Homeowner Preservation helped him stay in his Detroit, MI home.

American Homeowner Preservation (AHP) aims to match investors with homeowners at risk of foreclosure so that investors gain high returns and homeowners can stay in their home with easy to afford lease payments.

For more information regarding American Homeowner Preservation (AHP), please visit our website at http://www.ahphelp.com.

American Homeowner Preservation Short Sale-24

An AHP homeowner explains his struggles and how American Homeowner Preservation helped him stay in his Detroit, MI home.

American Homeowner Preservation (AHP) aims to match investors with homeowners at risk of foreclosure so that investors gain high returns and homeowners can stay in their home with easy to afford lease payments.

For more information regarding American Homeowner Preservation (AHP), please visit our website at http://www.ahphelp.com.

American Homeowner Preservation Short Sale #41

An AHP homeowner explains his struggles and how American Homeowner Preservation helped him stay in his Detroit, MI home.

American Homeowner Preservation (AHP) aims to match investors with homeowners at risk of foreclosure so that investors gain high returns and homeowners can stay in their home with easy to afford lease payments.

For more information regarding American Homeowner Preservation (AHP), please visit our website at http://www.ahphelp.com.

American Homeowner Preservation Short Sale #5

A Cincinnati family explains why they love their home.Through American Homeowner Preservation, the family was able to avoid foreclosure. For more details, please visit www.ahphelp.com.

American Homeowner Preservation Short Sale #17

American Homeowner Preservation (AHP) helps homeowners at risk of foreclosure achieve a long-term solution that keeps them in their homes.

American Homeowner Preservation

American Homeowner Preservation (AHP) helps homeowners at risk of foreclosure achieve a long-term solution that keeps them in their homes.

American Homeowner Preservation Short Sale Success

American Homeowner Preservation (AHP) helps homeowners at risk of foreclosure achieve a long-term solution that keeps them in their homes.

American Homeowner Preservation Success Story in Akron, OH

American Homeowner Preservation (AHP) helps homeowners at risk of foreclosure achieve a long-term solution that keeps them in their homes.

American Homeowner Preservation Akron, OH Success Stories

American Homeowner Preservation (AHP) helps homeowners at risk of foreclosure achieve a long-term solution that keeps them in their homes.

Cleveland American Homeowner Preservation Success Story

American Homeowner Preservation (AHP) helps homeowners at risk of foreclosure achieve a long-term solution that keeps them in their homes.

Akron man takes chance, saves home from foreclosure on WKYC Cleveland/Akron

An Akron, OH man puts his faith in American Homeowner Preservation and their innovative foreclosure prevention solution. As a result, he now lives in his home with a recorded & affordable five-year lease & option to repurchase.

Aztec Financial Promotes American Homeowner Preservation

Dear Yahoo,
I’ve never heard anyone say, “I don’t know, let’s Yahoo! It…” just saying…
Sincerely,
Google

American Homeowner Preservation Saves Another!!

"We were introduced to your program by Gil Bivens of Aztec Financial in Phoenix, Arizona. The entire process was surprisingly very simple. When Gil gave us an initial presentation about the program and how much money we were going to save, it was hard to believe that the bank would allow us to sell our house to an investor and allow us to buy it back at its market value, which was estimated at about $30,000.00, compared to what we owed $152,000. We can now buy our house back for about $36,000 for a huge savings of about $116,000. Our monthly payment went from $1,064 to $639.00. Overall, we love AHP for helping us save our home. Bottom line, we are blessed for what AHP has done and would recommend anyone, going through tough times to take a chance and let AHP help them."

We NEED a Real Estate Agent in SAN ANTONIO,TX. If you can help please contact Michelle at (m.weadbrock@ahphelp.com)

We need agents in the following areas: Shaker Heights, OH, Saginaw, MI, Springhill, FL, Farmington, NM, Contact: (m.weadbrock@ahphelp.com)

If you like us, we will like you! http://ping.fm/gsYUJ

American Homeowner Preservation: Trustees Helping Investors

Some states are experimenting with principal write-downs, using the Treasury Department’s Hardest Hit Fund to finance them, and the results have in some cases been positive. We’re talking about 40,000 borrowers at most, a paltry sum compared to those in need, but it could lead to data showing the stability of principal reductions as a modification strategy (data we already have, but this would be in the current context). And this is even more interesting:

When American Homeowner Preservation was first conceived, the vision was a solution which benefited homeowners, investors as well as existing lenders. In practice, homeowners and investors have recognized the advantages and have responded mightily. However, AHP’s offers of prompt resolutions which maximize lenders’ recovery on their troubled mortgages have generally been poorly received by lenders. As a result, approximately 15% of AHP short sale offers are ultimately approved by lenders and a great deal of time and effort is spent trying to resolve the other 85% of applicants who ultimately cannot be assisted due to lack of cooperation from existing servicers.
To solve this challenge, AHP has been bidding to acquire pools of REO’s and subperforming mortgages at large discounts. By gaining control of the REO’s and mortgages, AHP can then approach each family and offer them an AHP Lease/Option if they want to stay, or an incentive payment if they want to move.
If the family does not want to stay or the home is vacant, the home is marketed through local real estate agents to sell promptly at discounted prices to cash buyers. Because the pool properties are purchased at substantial markdowns, they can be resold at wholesale prices and still generate a good return.

Basically you have American Homeowner Preservation using private investor money to buy up mortgage pools and give the borrowers the solutions they need, not the ones that maximize profits for the company. I don’t know that there’s that much money out there to do this on a grand scale, even though the short-term returns are pretty high, but it’s an exciting development, and it shows you can do well and do good at the same time. Frankly, it’s what the government did with the Home Owners Loan Corporation in the 1930s, and what they should be doing today.

American Homeowner Preservation Buying Pools of Defaulted Mortgages & REO's

When American Homeowner Preservation was first conceived, the vision was a solution which benefited homeowners, investors as well as existing lenders. In practice, homeowners and investors have recognized the advantages and have responded mightily. However, AHP's offers of prompt resolutions which maximize lenders' recovery on their troubled mortgages have generally been poorly received by lenders. As a result, approximately 15% of AHP short sale offers are ultimately approved by lenders and a great deal of time and effort is spent trying to resolve the other 85% of applicants who ultimately cannot be assisted due to lack of cooperation from existing servicers.

To solve this challenge, AHP has been bidding to acquire pools of REO's and subperforming mortgages at large discounts. By gaining control of the REO's and mortgages, AHP can then approach each family and offer them an AHP Lease/Option if they want to stay, or an incentive payment if they want to move.
If the family does not want to stay or the home is vacant, the home is marketed through local real estate agents to sell promptly at discounted prices to cash buyers. Because the pool properties are purchased at substantial markdowns, they can be resold at wholesale prices and still generate a good return.
This approach creates a built-in pool of potential AHP clients. Effort now squandered in dealing with uncooperative servicers and lenders can be better spent providing families with long-term solutions to stay in homes in which AHP has taken over the lender position. Ideally, acquisitions of REO's and delinquent note pools will become the primary driver of families to AHP.

AHP completed their first note pool purchase in February and dispositions have proven successful. Now, AHP has entered into a rolling contract with a large bank to acquire their REO's, the majority of which are still occupied. The REO's are expected to continue to be acquired on an ongoing basis.

In a quest to keep AHP a Main Street solution without the poison which comes from Wall Street money, AHP is utilizing private investors to fund the REO and Note purchases. Investors receive assignments of the Notes and Defaulted Mortgages, or Participation Agreements and Security Agreements on the REO's. Due to the anticipated short 14 - 90 day life of most of these investments, the annualized returns are projected to be significant. Investment sizes range from $9,000 on up, well within the reach of many investors. AHP puts 10% down each acquisition and, due to the time value of money, AHP and investors both have the incentive to turn over investment funds as fast as possible. Also, bridge investors receive the first right to acquire the homes of those families who choose to stay with an AHP Lease and Option.

American Homeowner Preservation is excited about this next step in their evolution.

American Homeowner Preservation wants to send out a prayer to everyone in Japan for the earthquake, as well as Hawaii that was hit by the Tsunami this morning!

Robo-Signer Misdeeds May Help Homeowners

Lenders and their accomplices utilized hundreds of Robo-Signers to improperly execute millions of documents. These inappropriate and potentially criminal acts are helping some homeowners stay in their homes by voiding foreclosures and, in some cases, muddying ownership of mortgages. With modest effort and minimal expense, homeowners at risk of foreclosure can determine if a Robo-Signer executed any documents pertaining to their mortgage. Armed with this information, homeowners in all 50 states may be able to get courts to stop or even reverse foreclosure actions.
In judicial foreclosure states, copies of pertinent documents are usually filed by lenders as part of the foreclosure court case. These are available from the court clerk, and are frequently attached to the Summons and Complaint which homeowners are served with when the foreclosure action is filed. Homeowners should check if Robo-Signers executed the Affadavits and Assignments. In non-judicial foreclosure states, Notices of Default are usually mailed to the homeowner shortly after filing. Homeowners should check for Robo-Signers on the Notice of Default as well as Assignments, which are available from the local County Recorder.
Once the documents are located, homeowners can reference the Alleged Robo-Signer directory below or search online by inputting the signers’ names follow by “Robo-Signer” to identify if there have been any allegations against the signers.
If homeowners get a match, they may be able to allege that the signer did not properly verify all of the information represented in the documents and did not have the capacity to sign the documents. As a result, the documents are defective and invalid. As the foreclosure action was based on these documents, the foreclosure action is also defective and invalid.
Judges are not typically giving homeowners their homes mortgage-free as a result of violations. However, lenders may be required to restart the foreclosure process in a proper manner and prove ownership of the mortgages. This may create sufficient leverage for homeowners to receive a favorable loan modification, approval on an American Homeowner Preservation short sale, or other long-term remedy which keeps families in their homes.

Help Save A Family in Berea, OH

It would be great if we could find someone to invest in Neil and his family. They are a great family and would really like to stay in their home. If you don't believe us let him tell you:

A Word from the Family:

"I’ve lived in my home since 1985. I want to stay in my home because I have nowhere else to live, and it’s a convenient place for both of my businesses. I have a trailer with lawn mowers and blowers for my lawn mowing business, and an instrument repair shop here in my house. It’s a great location for the repair shop because I’m on a main street. Also, the church beside me allows customers to park in their parking lot, and I’m near the highway.

I intend to stay here, and one day die here. Every day I load my trailer up and cut grass, come home to take a shower, and go to my repair room full of guitars needing repair. Also, I rehearse one day a week with my band. We’re practicing hard for when we take the headlining spot as the Deep Purple Tribute Band coming up in Akron. My goal is to get my businesses back up as strong as they used to be, and work to get my life to a simple existence like it used to be."

It's Not A Wonderful Life After All

             So if you have been following the real estate news, you would have found out that Ocwen, has foreclosed on a Policeman in Akron, OH.  My question is what has the world come to, where banks don't have hearts anymore. Personally the world would be a lot better place if we were to go back to a time where everything was like the Jimmy Stewart's classic movie "It's A Wonderful Life". He worked for a bank that actually cared  about the customers and tried everything in his power to let them stay in their homes, he even almost went broke trying to help.
              Now on the other end of the spectrum, most banks today are exactly like Potter; stubborn, greedy, and don't care about anyone else. However, we all know how the story ends. Eventually good overcomes evil. So a message to all of the banks that lack human emotion, "Your day is coming, and once people realize what you are doing to them, watch out." 
 Check out the article @ American Homeowner Preservation

ING Direct Blacklists American Homeowner Preservation

ING Direct, the Dutch-bank and internet-based mortgage lender, has objected to American Homeowner Preservation’s program to keep families in their homes, and ING will no longer consider AHP short sales. “ING DIRECT will also be adding your company to our exclusionary list as your company strictly finds investors to keep sellers in their home, while the bank takes a significant loss.  This is against ING DIRECT’s short sale policies and guidelines, and as such you will no longer be able to work on this short sale file or any future ING DIRECT accounts,” Adam Agostinelli of ING Direct Retail Asset Management advised in an email to AHP.

“We are disappointed in ING’s failure to recognize that AHP’s program can reduce ING's losses and concurrently keeps struggling families in their homes,” stated AHP’s Michelle Weadbrock.
Although ING Direct President Arkadi Kuhlmann (pictured atop motorcycle) has rightfully bragged of ING's lower-than-average 2.88% default rate, ING did require a bailout by the Dutch government and has recently been accused of violating federal truth-in-lending laws. In addition, Kuhlmann states that “the European Commission has mandated that we be sold by 2013” as part of a move to break up large financial institutions. Is now the time  for ING Direct to amend their short sale policies so that maximizing ING’s recovery while allowing families to remain in their homes is an option?

It's A Great Day to Save Homes

         This is a new era in American Homeowner Preservation history. This is AHP's first blog post. I am sure they will get better from here. I know you are probably just trying to figure out what on earth American Homeowner Preservation is. Well I am going to explain it, so everyone can understand. AHP is designed for families, and now as you may have heard churches, who are going into foreclosure. We exist so that families who want to stay in their homes can. With the economy the way it has been, it is very difficult for some families to make payments on their very high mortgages. We come in negotiate a short sale with your lender, find an investor to purchase your home for that price and then rent it back to you with the intent on you buying the home back within 1 to 5 years. Everyone is probably thinking the same thing now..."How much does it cost?"
Answer: Nothing.
We are designed to help save you money in the long run. So if this sounds like you or if you would like to learn more about us then please click on our name : American Homeowner Preservation