It is common knowledge that home values have lost as much as 50 percent or more in some areas and many homeowners owe more than their home is worth. Banks have done little or nothing to help these folks. In attempting to lower their principal balance, lenders advised the homeowner to miss some payments, only to be told that they can do nothing to help!
Nationally, more than 20 percent of home buyers — nearly 11 million families — are underwater on their loans.
Moody’s Investors Service projects the national rate of homeowners with negative equity to near 50 percent by early 2011.
Enter the picture – All Statewide Property Corporation (http://statewidepropertycorp.com/). The Officers and Directors of All Statewide have a combined professional real estate career spanning eight decades. Stuart Vener, President says “Something has to be done to help these people. The Government is doing nothing and the problem is worsening.”
This company has found a solution to the dilemma. By forming satellite limited partnerships, they are raising sufficient amounts of money to by bulk mortgages from lenders. They then offer the homeowner a chance to reduce the mortgage to the current market value.
The residual effect to this is that the person investing in these partnerships can earn a net rate of between 17% and 24% on his investment, while helping good Americans retain their homes. According to Vener, he feels that in trying to just help homeowners, he has accidently created probably the most secure high yielding interest rate investment available today.
He feels so strong about this investment that his company is investing cash money in every partnership and retaining a capital interest. He says, “Where can I place my money in such an altruistic cause, and still be handsomely rewarded.”
Homeowners desirous in saving their homes and Investors wanting to help these families are urged to contact All Statewide Property Corporation (http://statewidepropertycorp.com) or call Mr. Robert Paterson at (877) 718-6289.