March 18, 2009

Bulk asset Sales and Laws

Most states have strict requirements for doing bulk asset sales to protect both the buyer and creditors of a business. Bulk sales laws prevent a seller from defrauding creditors by selling a business for less than the market value and paying creditors less than the seller owes them, and they prevent the seller from selling a business to a good faith buyer and skipping out on the creditors. Here are the general rules sellers must follow for a bulk asset sale.

Understand the definition of a bulk asset sale. it is any sale outside the ordinary course of the seller's business for more than one half the business's inventory and equipment as measured by the fair market value of the inventory and/or assets on the date of the sale. There are exceptions for assets with a net value of $10,000 or less or a value of $5 million or more.

Step Two
File and publish an advance notice of the sale. Generally, the notice must appear at least 12 days before the sale. The buyer has the responsibility for record ing the notice in any county the assets and/or buyer reside. The buyer must publish the sale in a general circulation newspaper in each of the counties and file notice with the county recorder of each county. The buyer must also deliver notice to the county tax collector of each county where assets reside.

Step Three
Pay all creditor claims before the sale is made if the assets total $2 million or less and is either all cash or a combination of cash and buyer obligations to pay cash in the future. If the sale goes through without satisfying creditor claims under these conditions, the obligation to pay creditors falls on the buyer.

Step Four
Creditors have one year from the sale date to file any claims against the buyer or seller for unpaid bills.

Investing In Passive Real Estate

If you do not want to deal with the hassle of active real estate investments, don't worry. You can still stay in the real estate industry, as there are various passive ways to earn huge profits. All you need to do is follow a proper strategy and money will keep coming to you. In fact, real estate investments consist of tremendous possibilities, and anybody who is knowledgeable, can make massive income without any hassle.

Liability Up To The Amount Of Your Investment

Investing in limited partnerships is one of the best and safest ways to build huge passive income. In limited partnerships, you just have to make a partial investment for the property and you only have the liability up to the amount of your investment, but you can benefit from the appreciation and the tax deductions for the total value of the property.

Moreover, if you have the ability and time to do a project, you can make much larger passive income. All you need to do is, buy, build, or rehabilitate rental housing projects. Do not worry about the investment. You can easily raise capital, as you have the opportunity to use other people's money. If you do so, it can really work wonders for you, because you have a limited liability, but unlimited scope for a share in the profits. Moreover, unlike corporations, your profits are taxed just once.

Investing In Commercial Triple-Net Lease Properties

When it comes to passive real estate investments, investing in commercial triple-net lease properties can also be an ideal choice. It yields an excellent profit and you can enjoy some great benefits from such investments. Just have a look at a few of the advantages. Almost no risk, no management hassles, and significant monthly income from the lease payments are a few of the reasons to invest in triple-net lease properties. Investing in commercial triple-net lease properties is quite different from owning duplexes, apartments, land, or office buildings.

It is a complete headache free investment. Collecting the rents, refurbishing the premises, paying the property taxes, insurance premiums, maintenance, accounting, legal, and other operating expenses are all taken care of. The triple-net long-term lease agreement works in such a way that your tenants perform all these functions for you. Another great benefit is that unlike other renters, your tenants do not abuse the property. Rather, they do everything they can to make the location attractive to customers.

You can generate massive passive income without going through any of the hassles of management work and with little or no risk at all.


March 14, 2009

Big Jump in Foreclosure Filings

Foreclosure Crisis Hits Again

According to a recent report from RealtyTrac, the number of foreclosure filings rose 6 percent during February after falling 10 percent in January. And just when you didn't think it cold get worse, more than 74,000 homes were lost to bank repossessions during the month, up from 67,000 in January. Nearly 1.2 million have been lost since the foreclosure crisis hit in August 2007.

Number of Foreclosure Filings

The number of foreclosure filings rose 6% during the month after falling 10% in January. Worse, filings leaped nearly 30% compared with February 2008. And the results confounded expectations: A downtrend had been expected due to the numerous foreclosure moratoriums in effect during the month.

"We were very surprised," said RealtyTrac spokesman Rick Sharga. "The moratorium were led by big players like Fannie and Freddie and all the major banks. It was supposed to cover the whole waterfront. The fact that foreclosures still went up was a shock."

The reason so many people lose their homes once they are in default is partially attributed to the severe home price drops recorded in many of the worst-hit areas. When borrowers are severely underwater, owing more than their homes are worth, it removes an incentive to keep up with mortgage payments. Some simply walk away.

By CNNMoney

Seeking The Help Of A REO Broker

With the current recession and real estate downturn and the rising amount of foreclosures, some REO real estate companies are making a lot of money from other companies that are purchasing real estate like crazy. These companies often seek the help of a REO Broker to make sure their homes stay in good shape and don't lose their value. There are a variety of REO asset managment companies available to assist you with managing your real estate assets. Some of them offer just maintenance services while others offer a offer a wider range of Real Estate Asset Management Servicing Solutions dealing with everything involved in managing your assets.

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REO Real Estate Asset Management

Managing Multiple REO Real Estate Properties

Aquiring or purchasing real estate properties can entail large amount of cash . And although it may be easy to manage one or two real estate properties, managing multiple real estate properties can become very tedious and time consuming. For this reason, many people and companies turn to a profession REO real estate asset management brokerage as a way to handle all of their real estate assets.

With the the current economic landscape in flux, it's become even more and more difficult to handle the amount of REO real estate assets. REO real estate asset management not only handles one's real estate assets, but they can also be an excellent source of vital information regarding REO real estate properties and the potential of these properties to earn higher returns.

Hire A REO Asset Management Team

At Innovative Foreclosure Services, we offer a centralized team approach to handle all the diverse duties that an REO broker needs to perform. By having team members specialize in particular areas, we are better suited to offer a wider range of Real Estate Asset Management Servicing Solutions. Our specialized approach allows us to meet the needs of a diversified clientele.

This includes ... servicers, sub-servicers, banks, Asset Managers, Lenders, Hardmoney Lenders, Investment Pools, and Bulk REO Buyers / Sellers.

We manage your assets from a servicer's perspective to ensure cost-efficient and expeditious processing. Emergency Services, Rush BPO, Back-up BPO, property inspection, or whatever other default need you may have, we are your one-stop REO Mamagment shop.

We are a customer-oriented organization that manages and markets real estate owned properties in the most efficient and precise manner. Innovative Foreclosure Services stands ready to simplify the process of disposition of your REO properties and protect your assets.

Follow this link to more about our REO Asset Management Services. Give us an opportunity to show you what we can do!

Scott Olson, REO Broker of Choice
Innovative Foreclosure Services
Toll Free: (800) 898-8507
Phone:(916) 972-1179

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March 11, 2009

Credit Unions & Banks We Work With

We offer Real Estate Asset Management Services to Credit Unions, Banks and Mortgage Companies. We are interested in talking with portfolio and asset manager from any of the following orgainzations:

Who We May Work With:
  • Aames Capital Corp
  • Abacus Federal Savings bank
  • Aetna Real Estate Investments
  • Alaska Southern
  • Alliance Bank
  • Alliance Funding Co.
  • Amalgamated Bank
  • Amboy NB
  • American General Finance
  • American Holdings
  • Ameriquest Mortgage
  • Amresco, Inc.
  • Amsouth Bank-Residential
  • Asia Bank
  • Associates Home Equities
  • AStoria Federal S&L Assoc.
  • Atlantic Mortgage & Investment
  • Baltic Realty/MetroWest Bank
  • Banc One trust Co.
  • Banc One, Dallas
  • Banco Popular de Puerto Rico
  • Bank Atlantic
  • Bank of America
  • Bank of America, Agricultural
  • Bank of America-Marketing List
  • Bank of Hawaii
  • Bank of New York
  • Bank of the Commonwealth
  • Bank of the Hudson
  • Bank One
  • BankAtlantic FSB-Comm
  • Bankers Trust Co.
  • Bankers Trust Co. of California
  • Beneficial Mortgage Co.
  • Boston Federal Savings Bank
  • Boston Safe Deposit
  • Bridge City SB
  • Brooklyn Federal Savings Bank
  • California Fed Bank-Comm
  • California Federal Bank
  • California Korea Bank
  • Carolina First Bank
  • Carver Federal Savings
  • Cathay Bank
  • Central Carolina B&T
  • Central Funding Co.
  • Century Bank
  • CFS Bank-Columbia Federal Savings
  • Chase Manhattan Bank
  • CIGNA-Ct General Life Ins. Co.
  • Citibank N.A.
  • Citibank RE/Citicorp-Comrcl.
  • Citibank Federal Bank
  • City National Bank
  • Coldwell Banker
  • Colonial Savings/Ft. Worth Mtg
  • Columbia Federal Savings
  • Comerica Bank
  • Commercial Credit Corp.
  • Community Savings, N. Palm Beach
  • Compass Bank
  • Conning ASset Mgt. Co.
  • Contimortgage Corp.
  • Countrywide Funding Corp.
  • Countrywide Home Loan
  • Crestar Mortgage Corp.
  • Crossland Mortgage Co.
  • Crown Life Insurance Co.
  • Dale Mortgage Bankers
  • Debcon Financial Services
  • Dime Savings Bank of New York
  • Dovenmuehle Mortgage
  • EMC Mortgage Corp.
  • Emigrant SAvings Bank
  • Englewood Bank
  • Epire Factors, Inc.
  • Equitable Life Assurance
  • European American Bank
  • Fairfield Financial
  • Family Savings Bank
  • Farm Credit Bank of Texas
  • Farmers & Merchants NB
  • FDIC-Field Ops Branch-Dallas
  • FDIC-Northeast Service Center
  • FDIC-Western Service Center
  • Federal Deposit Insurance
  • Federal Home Loan Mortgage
  • Federal National Mortgage
  • FGH Realty Credit Corp.
  • FHLMC-Multi-Family
  • Fidelity Federal Bank
  • Fidelity Federal Savings Bank
  • Fidelity Homestead Assoc.
  • First American Bank
  • First Bank National
  • First Bank of FL (First Fed)
  • First Central Bank
  • First Commerce Bank
  • First Commercial Mortgage
  • First Fedrl Bank of California
  • First Fidelity Thrift & Loan
  • First Mortgage Companies
  • First National Bank
  • First Nationwide Mortgage
  • First Pacific national Bank
  • First Security Bank of Utah
  • First Trust National
  • First Union Mortgage
  • First Union National
  • First Union NB
  • Firstrust Savings Bank
  • Fleet Mortgage Corp.
  • Fleet National Bank
  • FNMA
  • Ford Consumer Finance
  • GE Capital Asset Mgt Corp.
  • GE Capital Mortgage
  • General Bank/GBC Realty
  • Girard Savings
  • Glendale Federal Bank
  • Glendale FS&L-Resid. USA
  • GMAC Mortgage Corp.
  • Golden National Mortgage
  • Greenport Savings Bank
  • GSL Savings Bank
  • Guardian Savings-Comm
  • Harris Trust & Savings Bank
  • Hemet Federal Savings
  • Home Federal Savings
  • Home Savings Bank of America
  • Homeside Lending, Inc.
  • Household Bank
  • Household Finance (HFC)
  • HUD-Worcester
  • HUD-Boston
  • HUD-Lowell
  • HUD-Fitchburg
  • HUD-Athol
  • HUD-Leominster
  • HUD-Woburn
  • HUD-Haverhill
  • HUD-Springfield
  • HUD-Gardner
  • Hypo Holdings, Inc.
  • IAG Federal Credit Union
  • IMC Mortgage Bank
  • Independence Savings
  • Inland Empire National Bank
  • Irwin Mortgage Corp.
  • LaSalle Bank, FSB
  • LaSalle National Bank
  • Laughlin National Bank
  • Leehman Capital
  • Liberty Savings Bank
  • Lochaven Federal S&L Assoc.
  • Long Island Savings Bank
  • M&T Mortgage Corp.
  • Magna Mortgage
  • Marathon Oil Company
  • Marine Midland Bank
  • Marine Midland Bank, Mortgage
  • Marine Midland mortgage
  • Marquette Savings Bank
  • Maspeth Federal Savings Bank
  • Mellon Mortgage Company
  • Mercantile Bank
  • Mercantile Mortgage
  • Merchants Bank
  • Midfirst Bank
  • Mid-State Bank
  • Midwest Savings Bank
  • National Standard Mortgage
  • Nationsbanc Mortgage
  • NationsBank South National
  • NationsBank, Southeast Reg.
  • New York State Mortgage
  • North American Mortgage
  • North County Bank
  • North Fork Bank
  • North Valley Bank
  • Northwest Community Bank
  • Norwest Bank
  • Norwest Bank of Minnesota
  • Norwest Bank of New Mexico
  • Norwest Mortgage, Inc.
  • OCWEN Federal Bank
  • Oswego County Savings Bank
  • Palmetto Federal Svngs Bank
  • Pawling Savings Bank
  • People's Bank
  • PFF Bank & Trust
  • PG&E
  • PNC Mortgage Corp.
  • PNC Realty Holding Corp.
  • PNC Realty Holding-Residntl
  • Prism Properties, Inc.
  • Providian Savings Bank
  • Providian National Bank
  • Queens County Savings
  • Regions Bank
  • Reliance Federal Svngs Bank
  • Repo Properties/Swing Loans
  • Republic Bank
  • Republic National Bank
  • Residential First, Inc.
  • Resolution Trust Corp.
  • Resource Bancshares Mortgage
  • Retained Realty (Emigrant)
  • Richmond County Savings
  • Riggs NB of Washington, D.C.
  • Riverside National Bank
  • Roosevelt Savings Bank
  • Rural Econ&Comm Dev-House/CO
  • Santa Monica Bank
  • Seafirst Bank
  • Security National Services
  • Security Pacific National
  • Small Business Admin-DC Office
  • South Side NB
  • Southern Pacific Bank
  • SouthTrust Bank
  • SouthTrust Bank of SW Florida
  • Spencer Savings Bank
  • State of New York Mortgage
  • State Street Bank & Trust
  • Sumitomo Bank & Trust
  • Summit Bank
  • SunTrust Bank Central Florida
  • TCF Bank Savings
  • TERRA Commercial
  • Three Rivers B & T Co.
  • TMS Mortgage, Inc.
  • Troy Savings Bank
  • Trustmark NB
  • U.S. Trust Co.
  • Union Bank
  • Union Federal Savings Bank
  • Union Planters Bank
  • Union Planters National
  • United Companies Lending
  • United Cooperative Bank
  • USTrust
  • V&D Realty USA Corp.
  • VA-New Hampshire
  • Wall Street Mortgage
  • Washington Mutual SB/Resid REO
  • Webster Bank
  • Wells Fargo Bank, N.A.-Resid
  • Wells Fargo-Comm
  • Willshire Funding Corp.
  • Woodsville Guarantee Savings
  • World Saving & Loan
  • World S & L-Multi Family
  • World Savings & Loan
  • Yasuda Bank and Trust

Contact Innovative Foreclosure Services anytime with confidence. Explore our many REO Asset Management Services and call or email us for a confidential, no-obligation consultation.

Office Headquarters
2245 Parktowne Circle #3
Sacramento, CA 95825

Phone:(916) 972-1179
Toll Free: (800) 898-8507
Fax: (866) 871-1507

Contact us today!

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