Chicago, IL (PRWEB) April 15, 2014
American Homeowner Preservation “AHP” announced today that its second crowdfunded investment pool, 2013D, is now closed. In December, AHP closed on the first ever crowdfunded pool of distressed mortgages in history, 2013C. Investment pool 2013D contains 47 nonperforming first mortgages secured by properties with estimated values of $2,422,400. AHP raised $1,017,367 for the acquisition, a 42% investment to value ratio. The closing of 2013D increases the total crowdfunded by AHP to $5,677,367.
Most of the 2013D loans are fallout from the Lehman Brothers’ 2008 bankruptcy filing, New York Southern Bankruptcy Court, 1:08-bk-13555. This was the largest bankruptcy filing in history and had a large role in fueling the global financial crisis. In addition, several 2013D nonperforming mortgages had been given to homeowners with Individual Taxpayer Identification Numbers (ITINs) by Banco Popular. ITINs are given to U.S workers who do not have, and are not eligible to receive, a social security number and primarily as a means to facilitate payments of income taxes. In 2002, Banco Popular created “Programa Acceso Popular”, which was a community outreach program that offered multiple banking services to Mexicans and other immigrants with ITINs.
Most mortgages within the pool are secured by single family homes, with nearly half of them located in Illinois and Indiana. After purchasing pools of distressed mortgages for significant discounts, AHP works with borrowers to modify their loans and reach other solutions which help keep them in their homes and avoid foreclosure. AHP pays returns of 9-12% to investors, providing great social and financial returns for investors.
American Homeowner Preservation was established in 2008 as a nonprofit organization before transitioning to for profit. Today, AHP purchases pools of distressed mortgages from banks at big discounts, and then offers sustainable solutions to families to avoid foreclosure and stay in their homes, while concurrently generating attractive financial returns for both the homeowner and investment community. For more information about American Homeowner Preservation, please visit our website at https://ahpinvest.com, call (800) 555-1055 or email us at firstname.lastname@example.org.