American Homeowner Preservation Acquires Non-Performing ITIN Mortgage Pool
Chicago, IL (PRWEB) February 27, 2014 -- American Homeowner Preservation (“AHP”) announced the recent acquisition of a pool of non-performing mortgages made to borrowers with Individual Taxpayer Identification Numbers (ITINs). The mortgages are secured by homes in more than eight states, with the greatest concentrations in Illinois and Indiana. American Homeowner Preservation utilizes a real estate crowdfunding platform to raise capital from accredited investors to purchase distressed mortgages from banks at big discounts and, in turn, offer sustainable solutions to borrowers to stay in their homes. As of February 2014, AHP has helped 438 families avoid foreclosure and has placed 318 vacant properties back into service. AHP’s vision is an America where every family can afford to stay in their home.
The Internal Revenue Service issues ITINs to individuals who are required to have a taxpayer identification number but who do not have, and are not eligible, to obtain a Social Security Number. In 2010, 3.02 million ITIN federal tax returns were filed. The ITIN mortgages purchased by AHP were originated by Banco Popular. In 2002, Banco Popular launched “Programa Acceso Popular” as a community outreach banking program for Mexicans and immigrants living in the U.S”, offering multiple banking services to borrowers with ITINs.
AHP is currently offering additional crowdfunding opportunities for investors at http://www.ahpinvest.com. “Our model is different from other real estate crowdfunding operators. We focus our resources on purchasing pools of distressed mortgages at big discounts, and then share the discounts with homeowners in the form of reduced payments and discounted principal, while concurrently generating above-market returns for our investors” explained Jorge Newbery, AHP’s founder and CEO. “AHP’s impact may just be a flicker now, but we strive to become a ball of fire which sparks the rebuilding of communities across America.”
American Homeowner Preservation started in 2008 as a 501c3 nonprofit before transitioning to for profit and evolving into a socially responsible hedge fund. AHP recently added crowdfunding, offering 9 – 12% annual returns to investors. To learn more about AHP, visit http://www.ahpinvest.com, call 800-555-1055 or email info(at)ahpinvest(dot)com.
Verria Kelly, American Homeowner Preservation, https://ahpinvest.com/, +1 (800) 555-1055, [email protected]
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