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Source Properties Inc. assists property owners who are facing foreclosure or who perhaps see themselves going that way in the near future. We sell the property for whatever the market will bear and negotiate with the lien holders to accept less than what is owed in order to complete the transaction, thus avoiding foreclosure. |
To date, we have completed 190 of these transactions with the property owners being forgiven an average of $50,000 each! I
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For example, if a house is worth $150,000 and the homeowner owes the bank $200,000, we can assist by selling the property for $150,000. We then deduct all of the applicable closing costs and give the bank whatever is remaining as a full settlement. The bank, therefore, may receive $135,000 after the closing costs are deducted and will subsequently forgive the homeowner for the remaining $65,000 of the mortgage. |
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Please
contact Rick Cowle |
Source Properties, Inc.
Phone: (845) 225-3026 (845) 225-3027 E-mail: rcowlelaw@comcast.net |