Bone Crushing Fun

Today, I had the experience of a life time. I went to work got a great order from a great client and submitted it to the Seller representative with all the necessary fruit salad.

What do you think happened? NOTHING!

Yes, the order and the proof went in, and the Seller suddenly turned into the black hole of 1000 hells. 4 hours after I submit the order the VP in charge comes on the phone and tells me that they are processing the order. Sure right and I am as dumb as a stone!

Folks in this business you have 45 minute window after a signed contract order is submitted with proof documentation to get it back and if you do not get in back from the Seller with their happy little signature so you can deposit the funds in a standing escrow account you can bet every dollar you have that you are being shopped. These people were trying to find some dummy to pay more for this tranche of grade A dead smelling corpses called Foreclosed homes.

I truly despise having a Seller take my work and shop it, especially when everybody on both coasts knows the Sellers BPO's suck "ass" and are so bad that we have to go back to the "Day" to see the best house sell in those neighborhoods for the BPO on this Sellers today value list. We could call this dreaming but it really is a sign of the desperation on the part of the Sellers

But this is what it's like at the moment! Sellers of REO Assets are mad to sell at the highest price. They spent all summer selling home at 90% of their value through Real Estate Agents and wisely only offered up a 1/100th of the actually inventory they have. All in the name of reducing supply now to keep prices high today. Never mind that the bulge building up in the holding companies is swelling up so fast that the FDIC is working 7 days a week to keep up with the number of "warnings" and "Cease and Desist" orders it needs to issue.

Speaking of the FDIC did you know that there is a persistent rumor that the Real Estate Assets is has on it's books are accumulating so fast the that they can not manage it and that the management time to correct is now measured in decades. The title backlog, that is the number of properties with title clouds, BKs, Legal actions and Tax leans now represents 80% of the FDIC holding. I have to wonder if this true.

Now Back to the Seller. Hedge funds do sell product but they do not want to pay fees because they know in their bones that they are richer than all the buyer and especially the representatives and it would be a disservice to their partners to pay for services when they transact business.

You talk to a retirement fund manager and you get the same thing. Oh, Paul we do not pay more than 1 point. My response is thanks and goodbye.

Today, We spent 30 minutes on a conference call with a retirement fund and the Managers bitched about the crap tapes, and delays and broken escrows. They blamed it on the Sellers, Seller Representatives, Title companies, Lousy BPOs, and finally on the product. These are the excuses of idiots. YOU GET WHAT YOU PAY FOR ROBBER BARONS!

Have a great day, and happy weekend. On Monday I have 2 Billion in buyers money to place and I will wait from now on 45 minutes and that is all!

Out with the Flu Really Sucks

A little over a week ago I came down with a bug and today I am back at work and I can talk but not for long.
'
It is great to be back!

Now just how big is the US Housing Shadow Inventory?

The circle is closing

Over the past 24 months I have been working to get informed about the many variables related to real estate, mortgages and controlling financial institutions.

I have also talked to a number of bankers and staff about the business and each has a unique and interesting story that rarely seem to be based on avialable facts, but which does dove tail nicely with business objectives and “we be fine mantra.”

The reality is banks are doing everything they are capable of to remain in business and maintain their balance sheet health.

We have observed over two years the tireless activity on the part of the financial industry holding the line by ballooning hidden shadow inventories and creating new balance sheet columns like holding companies and Sub-performing. These banks have worked so hard and now in 2009 in the final quarter they have run out of time, due to issues beyond their control. Today, there is a wave of new selling activity building and it coming from inside the regulators offices.

100 FDIC member banks have fallen to date (more if you count all banks) and depending on who you listen to there will be another 150 to 200 banks that fail next year. The assets of the fallen are bought by a suitor the regulator has on hand but what they do not tell you is the suitor gets only the assets and almost none of the liabilities. These "assets gone bad" are now the property of the US tax payer.

It is this pool of US assets gone bad that has grown to a size and depth that now exceeds the government ability manage and is expanding beyond the GSe's ability to contain any additional future growth.

The regulators need cash now and of course they can borrow from Uncle Sam and demand advance payments from the industry but simple math based on past performance clearly illustrates the available credit and fees in the industry will not meet the requirements of the government regulators when you factor in the Commercial Foreclosures and associated bank failures to follow.

Now the Banks are no longer in control of their future! Why do I say this, because I seen into this other universe of the Giga Shadow and it already beyond vast. The banks pushed the problems out more than 2 years and in that time enough of them have failed to create a wave of assets outside of their control that will impact their businesses regardless of the actions they have used to hold the line over the past 24 months. So the old tricks will not pay any more.


To raise money is easy all you have to do is lower prices to meet customer demand until market saturation inhibits sales, of course sales can be further made by continuing to lower prices. Banks have fought this tooth and nail but now they have created their own competition.

Uncle Sams regulators need cash, They need 100 billion and just maybe this number will grow to 500 billion. So now they are creating sales platforms that have a One billion buy in. These properties in these program are and will be sold off and the impact will be felt at the Banks as property on the market will be marked to match the resale of some of these properties.

Then the Foreclosed Commercial properties will hit the resale market further depressing prices and forcing Banks to take write downs on the books. What this all means is that bottom in the market is 18 to 24 months out at the earliest.

If you get a list from the FDIC

Hi all:

In the last two weeks the 501c3 non-profit sell off og FDIC controlled asset is underway. Here is how you can tell if you are working with the right buyers representative for Multifamily.

1) Any contract that has more than 3 point in commission is not real and will not close.

2) You must sign a MFA and NCND before you get the approved 501c3/FDIC approved LOI template.

3) You will be advised that you may not circulate the name of or any documents samples or related information to anyone.

Here is why these three items are what they are. The FDIC contract with the non-profits does not allow any party to add costs to the sale. The total allowed commissions is 3 points. 2 points
go to the Non-profit and it's attorney and ONE point goes to the Buyer representative. Buyers representatives must be approved by the 501c3 and only these parties which consist of Lawyers, Mortgage and Real Estate Brokers which have been pre-approved are allowed to process your paper work.

All LOI's are made out to the Chairman of the FDIC and all infromation from both sides is not to be disclosed to anyone for any reason!

In the past 2 weeks my firm and the 501c3 we work for has taken more than 1000 orders. We found out today that some people in the program have violated the terms of the non-disclosure and published material and made representatiions that they are direct to the seller. These people have added 5 points for a total of 8 point. This is crazy and it makes my job harder.

The Government will not approve any broker chains period. If you are not talking directly to my firm or one of the other 6 firms that can conference call in the Non-profit asset manager. Drop it like a because you are wasting everybodies time!!

More and More and More

Here is a short list of REO apartment complexes & projects for sales!

City State ZIP Total Number of units
NEW YORK NY 10036 1689
NEW YORK NY 10029 1594
NEW YORK NY 10044 1107
NEW YORK NY 10128 1094
SAN FRANCISCO CA 94107 414
LOS ANGELES CA 90012 757
LOS ANGELES CA 90012 332
Phoenix AZ 85015 523

Contact me ASAP close now!

Unwashed know the truth

Today is Friday and so the last day of this amazing week I have some thoughts to impart to you. First thanks for taking the time to read this.

All week long I have been working with buyers and some brokers that claim to be buyers on a new 501c3 program. If you want multi-family property in any state call me I have it yes you will not believe the prices yeah you can buy 1 to 400 billion today. And I am telling the Truth!

This fact is driving the people on the east coast mad. Yesterday I had a educated high end broker from New York shouting at me on the phone because I gave him a property address that was on a list provided by an agency of the US government because it is for sale.

I got the call to call this firm and I did and I was accused of tarnishing the reputation of one of New York's Wealthiest families. The building is still on the list to be sold by the US government and this gentlemen then proceeded to belittle me as a "nobody not worthy of knowledge or authority" to handle this opportunity.

Listen up people the new system of selling off assets has to be free of Wall Street or the government staff are at risk of claims of special favoritism or worst Graft.

Get used to the new model of selling off these major assets. I work out of an office in Reno not New York because that is my choice. Now back to this gentleman and his firm. I provided his firm the correct paperwork to begin the process. They have not signed any of but instead made disparaging comments about my New York partner and is lack of skills and knowledge. I might add here that this firm competes with the guy I sent into their offices.

Next he attacks me and finally I informed him it was time to stop busting my chops and complete the forms cause this is REAL or call the FBI.

Yes that is right I know the name of the Agency, 501c3 and the US agency chairman so call the FBI. I work for living and nobody is going to cut me out of a deal using Cheesy tactics based on personal assaults. The reason this system is in place is to stop the wall street good old boys from controlling the pot. I am giving this guy information that is controlled under a non-disclosure agreement. End of story!

So please have a great day and be happy cause change is happening and things are not what they seem.

PS. The FBI is a great organization and with a management that has the phone number of the agency on "Speed dial" and the New York broker to the rich and famous is done with this program!

24 months of Mayhem and what?

After doing this job for past 2 years I have to admit there are more problems today than there was in October of 2007. Back then only the wizened old guys and ladies were telling that they were going to sit on their cash because blood in the streets was coming. I was upset cause the client bought a gold mine instead of the hotel I was trying like hell to sell him.

That man was and is one of the smartest or luckiest people I have ever met, and he was right!

Bulk REO business is a full blown mess! The reason my friend related to me over cake recently was simple, "Government" or as he put it lack there of.

You see in order for market so prosper you have to enable the market. This does not mean regulation or government stimulus. What it means in this case is government have to allow natural processes to happen.

Dr. Housing bubble has been documenting the California shadow inventories and he has come to the conclusion that banks are keeping large in fact majority of foreclosed homes off the market. They are in fact doing this to buy time to keep their institutions day or reckoning in the future as opposed to shutting down the bank next week.

The problem here is the banks that is failed banks inventories have been accumulating in other banks that is the ones that the FDIC has brought in to buy these failed banks assets while the FDIC has been warehousing all the rest.

The Government is building a dam with the intention of preserving the economy by preventing the timely reentry into the market of this tidal wave to SFRs, multi-family and soon commercial retail properties. How big is the Governments dam? I got to see 1 cove and it is more than a Trillion, people that is one of the five categories and it is over a trillion.

My friend has not bought anything yet, and I asked him over cake why. He looked at me and said the beginning of the "blood in the streets" has not started yet. I choked, and asked him when this going to start. He said, "watch the dollar" it will start when the "dollars value" is clearly in steady decline.

I wonder if he is right?

In the mean time I have 1000 Apartment buildings to sell at less than 50 cents on the dollar any takers?

The REO Giga Shadow is Here

I have 23 Apartment building/s and projects that have been handed off to my firm to sell. There are over 7000 units in these apartment complexes. If you are the buyer call me. we have 48 hours to get you registered. These are all REO product. You must sign two NCNDs, and a Master fee agreement to be registered with the seller expect to make all your LOIs out to "seller of record". Please contact me for the discount data!

If you are Broker I can not help you! This seller does not allow broker chains. If you have a Facebook account look me up I am the guy in Reno with the bald head. I will tell you what you as a broker are going to have to do it you have clients that want this product.

Good luck

city	state	zip code	Total # units
Phoenix	AZ	85015	523
PHOENIX	AZ	85044	360
GLENDALE	AZ	85306	348
GILBERT	AZ	85234	341
Avondale	AZ	85323	336
Phoenix	AZ	85022	324
PHOENIX	AZ	85008	320
YUMA	AZ	85364	312
PHOENIX	AZ	85003	304
PHOENIX	AZ	85035	301
Tucson	AZ	85715	300
CHANDLER	AZ	85224	290
MARANA	AZ	85743	290
PHOENIX	AZ	85004	289
Tucson	AZ	85742	288
PHOENIX	AZ	85014	285
MESA	AZ	85206	266
PHOENIX	AZ	85048	264
PHOENIX	AZ	85043	264
PHOENIX	AZ	85017	264
TUCSON	AZ	85711	260
PHOENIX	AZ	85031	256
Flagstaff	AZ	86001	252

Bulk REO New Government programs are not

I like good news and I bet you do too. The North American market is Red Hot if you got Funds look at this:

PACKAGE # 7-Office3 – STATUS –Available 8/05/09
Reo Office Building(B) (1) 8% vacant
SF- 700,000+ Sq. ft. and 30,000+ Retail
Cities: NY NY
Price: 489MM
CAP RATE = 7%

Now when was the last time you saw a NYNY office building at a 7 CAP. Please lets all focus on the good News! Trust me this is good and worth a days reflection on what is coming later this year.

Wow!

Every REO property should have one!

HOUF by HyperOrganic Urban Farm is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License

Bulk Reo California product is more than hard to get

The Banks are not sitting on this product so what is that they are doing? Are they trading it among themselves? Are they aging it and absorbing the cost of taxes and maintenance? I wonder?

Now look at the Alt-A troubles headed our way and you have to ask. If you were a bank president would you hold all your Non-performing assets for another year and hope they will increase in value?

There are Hedge Funds that are buying large quantities of this product as non-performing notes. They do this on the down-low and are slowing working through the inventory peeling off the goodies they want and bundling the rest for remarketing. My question is why take so long in the process. They stalling the velocity of money and contributiong to a major pool of dead properties sitting in America while REO or NPN inventories continue to rise. Perhaps they are expecting inflation to kick in and raise the value of the assets. I wonder?

My only comment about the behavior of Hedge Funds is that they are totally Myopic
!







“(BusinessWeek) New Barclays Capital research from Sandeep Bordia and colleagues shows that the recasts in the next year or so are expected to be a minor event. But by mid-2011, these borrowers are forecast to see payments that are 50% to 80% higher than what they are grappling with now. (Many of these option ARMS are concentrated in former hot-spot real estate markets, such as California and Florida.)








I have smart investors from California calling and because they see the SFR downturn in California continuing into 2012 they ask for Multi-family. Now normally I would tell ya all this is smart but times are not what they used to be. See the chart and draw your own conculsions.






Note that peak to peak time windows are 10 years, if this holds or even if it 7 year this means the vacany rates will not go down in mass and with great impact until 2015 or later.

Now review many sources in my review of this topic and I can tell you the Markets are heading for a major down turn in September time frame. Perhaps the Banks will see the benefits of selling now instead of sitting and waiting.

Bulk Commercial & Retail is coming Like a Giant

Bulk REO and NOTES for Sale

As all thing grow and Change I have to make a few adjustments. As of this week the Bulk REO and NOTES for Sale inventory will move to Facebook.

We have some changes beginning this week to get the latest information on REO & Notes Inventories.

I have established a Private Group on Facebook.com called "Bulk REO and NOTES for Sale". To continue to receive this information you will need to join Facebook (Free) and send me (Paul Lucero) I am the bald guy with the glasses.

I will review each request and will either approve the group membership for you or call for more information.

The reason for change is simple. I have observed that the lists which are provided to you and which do contain very limited privileged information have been circulated in total and this is not acceptable. Please note that I know many of you will not want join another web site but this is essential protect our sources and improve your ability to get the deal done

As per the pervious message there is one more detail. To get access to the Group as it will not show up in a search of Facebook. Once you join you will need to search for me and send me a friend request. I will do what is required to get you access.

REO Rant against Goldman Sachs

All I can say is watch the video and either do nothing or take action.

It is your future!

Click Here

Bulks sales mean properties Float in the System

Every day I talk to many people pursuing the purchase of bulk product. Homes, apartments, retail and other. One of the most common things I hear is this:

"I saw that property before, I saw it when it was X and you want me to buy it at XX." Yes my friends these buyers have for months called me out and demanded fresh product. Truthfully, I have to ask you to consider the wisdom of this line of reasoning.

What the buyer is really saying is that I had a chance to buy this cheaper than this! Now I ask you is it the sellers fault that the buyer delayed or blew a purchase? I think not but it does say a lot about the quality of the buyers.

Good buyers see the problem after experiencing personally a couple of times. But clearly there are many new faces coming to this market place every day and they do not know the nature of this very imperfect market place.

The Imperfect market place is full of conflict and faulty data. What is an imperfect Market?

"A market where information is not quickly disclosed to all participants in it and where the matching of buyers and sellers isn't immediate. Generally speaking, it is any market that does not adhere rigidly to perfect information flow and provide instantly available buyers and sellers."

Because of this nature it is absolutely necessary that results be rewarded and poor performance rejected. I have as of this date received more than 80 LOIs and delivered 28 tapes for review to buyers that have correctly completed the necessary forms and their NCND's.

The timing of this is the critical buyers that take days to complete a form or which make issues of process do not close deals unless I make a special effort to get them the deal. I make the effort as offer as possible but due to time constraints I less and less time to help.

Why do tapes and properties continue to float in the system? Because they were bought once repackaged, then repackaged again and sold again.

I have seen some AZ, MI, UT and OH properties float for 4 months in 4 to 5 slightly different or almost identical tapes. The prices slowly rise and the buyers which had a great opportunity 3 months ago are now upset that today I gave them a tape which contained properties they have seen. Floaters are everywhere and we all need to understand that you get one shot at the lowest price. You passed on it and you had access to it or at least a shot at buying it. That is a shame!

Next!!

The Price is the door not the prize. Today I had three buyers looking at a sun belt tape that was over priced by the financial institution selling it.

I tell everyone the same thing. At every office private investor or Bank there is a person that can and does match the numbers on LOI offers with the column that has their price.

Many of these people are overworked, they are tired and they do not care about the time or the sweat invested in the generation of the LOI they only care about the total price.

LOI's are important and should be made on the basis of a good faith estimate made by the seller but subject to the due diligence of the buyer.

This process always adjusts the values inline with the market on the date of sale and the associated risk discount the seller must make to attract legitimate offers. The Price is the door not the prize.

Be well and make it a win win for everyone!

Bulk REO Storm Clouds building FAST!!!

I have to admit that every day I am looking for good news. Instead, I see crazy Larry on Americas Financial Channel talking about Green Shoots and I know that deep down inside that Pink tie of his is cutting off the blood supply to his brain. The media is scared and do you know why? Because their revenues are in the toilet and the CEO’s have see their friends commit acts that history may very well judge as criminal. Not much to worry about you know!!! And in the mists of this the Consumer is spent, wasted and over taxed. So it is time to get down to business and make some serious money.

Today, I read this article on the LA time site at http://www.blogger.com/www.latimes.com/business/la-fi-foreclosure4-2009jul04,0,5145254.story

"Another wave of foreclosures is poised to strike! " You think this is New Again!

This is madness the West Coast’s largest newspaper could not do any real reporting back in 2007 to see the bubble busting tell tales pouring out the seams of Government and Wall Street.

What is going on now!!

They write this today, "Few people would venture a guess on the magnitude of foreclosure increases. Part of that will be driven by the job market and the financial condition of so-called prime borrowers and homeowners holding adjustable-rate mortgages, both of which are showing more stress."

If times were not so tough I would be laughing. Then I read this, California puts 90-day hold on foreclosures.

“California is imposing a 90-day moratorium on housing foreclosures under a new law that took effect Monday. The law is expected to make lenders try harder to keep borrowers in their homes. Lenders must prove they tried to modify the delinquent loans before they can begin foreclosing.

http://www.latimes.com/business/la-fi-briefs16-2009jun16,0,7080086.story

I did a double take, didn’t the Californian’s already do this back in 2008.
Now that was with the help of Washington’s reality challenged Congress. This is preposterous! Every time the government steps in with direct action all that happens is, more delays, making the duration of this problem grow beyond all expectations. Every time!

Now that we have this on the table you must know that there will be more than 3 million new foreclosed homes in 2009-10 time frame. No government intervention can stop this fact. Bring on the Bad Bank it does not matter. We have a second wave of foreclosures and new major challenge in addition to the sub-prime mess (See last weeks posting below.

I remain optimistic and we will all have a great opportunity to make money. The Banks and Hedge funds will buy and sell and as they do we will see deal like never before. Just remember the golden rule. Everybody needs to win in business! The Zero Sum Game is trash. Find partners that know how to work their market and you will make money.

Also learn to laugh and be happy cause the government can not tax that!!!

Bulk Commercial & Retail is coming

The banking industry has in my limited opinion done a very poor job of managing the sales of Bulk SFR related properties. The market is imperfect and flawed and has created an intermediary system that has no rules and which is populated with more greed and broker chains than one could have thought possible 18 months ago.

We have been in this business long enough to know the signs of impending seed changes. The commercial and retail market place has until now only been marginally impacted by the large numbers of lost tenants and business bankruptcies. But begining this month that will become old history. The commercial market is about to melt down the reasons for this I will enumerate shortly.

Today I talked with a Money guy in San Francisco and he told me something I have been hearing for over a month. He is a Californian and knows the LA market well. What he told me reflects the smart money on the street today.

In a nut shell here is what he said, "We see the SFR market collapsing another 20 points here in the state. We have changed our buying pattern to Non-performing Notes on Multi-family properties nation wide. We are taking the money out the state. The perception that California will recover first is flawed. We will purse cash flow now. We no longer want any retail regardless of location or commercial."

Twenty minutes afte I posted this message this came out on CNBC

US Home Prices Seen Falling 40% Overall: Analysthttp://www.cnbc.com/id/31713614

I have heard this two dozen times over the past 72 hours and this tells me that something is up. I know from past research the Refinance funds available for commercial & Retail North American ops is about

1/3

of the funding required!!

What happens to the rest of the commercial refies? Where will the property owners turn and how will most with

greatly

reduced borrowing power and lower credit status get replacement funds.?

Then there is the issue of failures. Many projects will fail and the banks will step in and file foreclosure. Normally this is somebody’s Yahoo moment however this time there is a vile problem in the foreclosure path. Remember the securitization stuff. Most commercial loans tend to exceed the limit a bank can lend to one client so the banks band together in participation and fund loans to sub division, high rise, and strip commercial center developers.

The resulting loans are then sold off to wall street firms that bundle them into Bonds that become tools in the CDS CBO and other markets.

So on the day of the BK or Foreclosure hearing who will show up to represent the lender. Not 1 or 2 lawyers, maybe 20 or more. Talk about a Cluster ****. The commercial banks have a massive problem on their hands and regardless of what they say they are in big trouble.

Remember this when you are offered a Mezz B note on a Mega project. it is cheap because the sellers do not want the court room expenses!

REO Sales are slowly correcting a major imbalance

This is the Single Family housing start data going back to 1964.

I recommend you read this article: http://www.marketoracle.co.uk/Article11351.html

REO Bulk Sales are increasing in Volume because ....

Folks the facts are the volume of foreclosures is not slowing and the pipeline is connected to multiple sources that will very soon be busting at the seams. See the following article to back my statement that, "we have not hit bottom yet!"

--------------------------------------------------------------------------------

NEW YORK, Jun 12, 2009 (BUSINESS WIRE) -- Fitch Ratings has taken various rating actions on 543 2005 through 2008 vintage U.S. subprime RMBS transactions in the course of its ongoing review of subprime RMBS.
A spreadsheet detailing Fitch's rating actions on the affected transactions, as well as Expected Loss for each mortgage pool and Loss Coverage Ratios for each bond, is available at http://www.fitchratings.com/ under the following headers:

Structured Finance >> RMBS >> Rating Action Reports
Today's rating actions reflect Fitch's analysis of expected default and loss from the collateral pool in addition to cash flow analysis of each class. The average updated expected collateral losses as a percentage of the original pool balance for the 2005, 2006 and 2007 vintages are 17%, 39% and 47%, respectively. As a percentage of the remaining pool balances, the average expected losses for the three vintages are 45%, 59% and 55%.

-------------------------------------------------------------------------- See complete article at: http://www.marketwatch.com/story/fitch-takes-various-actions-on-543-2005-2008-us-subprime-rmbs-deals?siteid=nbkh

REO Bulk business impacted positively by 465,000 foreclosures in May 2009

This is the June 10th, 2009 summary of available packages for sale. All Sold packages are noted and will be removed next week.
Make an offer in the form or a “Letter of Interest” and a Non-circumvention agreement (we provide), also be prepared to provide Soft Proof of funds to the bank.
Make an offer regardless of the sales price or asking price!
Real Estate Owned by the Bank (REO)
Make an offer in the form or a “Letter of Intent” and a Non-circumvention and Non-Disclosure agreement (we provide the LOI template for you), also be prepared to provide Soft Proof of funds to the bank. See attached preferred LOI format.
Make an offer regardless of the sales price or asking price!
PERFORMING NOTES
Performing Note packages are available for purchase by submitting a "Letter of Interest" which must include at a minimum the name of the buyer and their attorneys that will handle proof of fund.
The Buyer and the Buyers representative must sign and return a NCND to Continental Funding Company.
A Note Buyer will need to offer a bid for each line item (loan). Please be advised that typically performing note which have been seasoned are sold for 85 to 90% of their face value.

For more information: Call our partner Continental Funding Company 775-853-5626.

PACKAGE # 5-4e AVAILABLE – 6/09/09
REO SFR Package
25 SFRs and couple of duplexes All in GA.
BPO to be determined in Escrow estimated value is 2.7 million
Sales Price = $1,334,270


PACKAGE # 5-4j – AVAILABLE – 6/09/09
REO unfinished Condos Package with 10K commercial leased 20+ years
70+ SFR all in downtown Los Angeles, CA
Units are 800 to 1500 square feet
BPO to be determined in escrow (make an offer)
Make offer Plus 3 % in fees


PACKAGE # 5-4k – AVAILABLE – 6/04/09
REO SFR
28 SFR in GA, NC, VA,WV, MD,
BPO to be determined in escrow (make an offer)
Make offer Plus 3 % in fees


PACKAGE # 5-4L – SOLD – 6/9/09
REO SFR
103 SFR in AZ, CA
BPO to be determined in escrow (make an offer)
Make offer Plus 3 % in fees


PACKAGE # 5-4m – AVAILABLE – 6/9/09
REO 10 SFR in NV
BPO to be determined in escrow (make an offer)
Owner estimate $1.4 million
Make offer Plus 3 % in fees


PACKAGE # 5-4n1 – AVAILABLE – 6/9/09
REO SFR - 22 SFR in CA, Los Angeles
BPO estimate $7,039,000
Asking Price: $4.426 million
Make offer Plus 3 % in fees


PACKAGE # 5-4o1 - PENDING – 6/9/09
REO SFR - 7 SFR in Los Angeles, CA
BPO to $982,205
Asking Price: $879,278
Make offer Plus 3 % in fees


PACKAGE # 5-4p – PENDING – 6/09/09
REO SFR - 10 SFR in Los Angeles, CA
BPO to $3.273 million
Asking Price: $1,816,499
Make offer Plus 3 % in fees


PACKAGE # 5-4r – AVAILABLE – 6/09/09
REO - 97 Florida SFR
BPO to be determined in Escrow
Seller will accept 60 cents of current BPO
Make offer Plus 3 % in fees


PACKAGE # 5-4s - SOLD – 6/09/09
REO 102 SFR - AL (5), CA (1), CO (1), FL (2), GA (3), IA (2), IL(34), IN (3), KS (3), KY (4)MA (1), ME(1),MI(6),MN(3), MO (4), NY (1), (9)
Asking price with fees is $896,000.00
Private Investor Sales
Make offer fees included


PACKAGE # 5-5 – STATUS –AVAILABLE 6/09/09
Non Performing Note Package Multi-family & Commercial assets including:
States and quantities in those states: CT(7), FL (2), IL (3) , NJ (12), NY(22), PA( 2)
Apartments, Multi-family plus small retail, and office
49 notes valued at $57,044,686 - LTV average 70%
Priced at 81 cents on the dollar = $46,206,196
To review tape make an offer in the form of an Letter of Interest (LOI) and provide SPOF contact information in the LOI.


PACKAGE # 5-6 – –AVAILABLE 6/09/09
Performing Hotel 1st Trust Deeds for sale both borrowers
1) 3.054 million note , rate 6.642, 10 year with balloon, LTV 63.00% Discounted to
$2,473,910 - Available
Available for 81 cents on the dollar.
To review tape:
Make an offer in LOI for and include contract POF information.


PACKAGE # 5-10 – STATUS –AVAILABLE 6/09/09
Performing Hotel and Retail Notes for Sale
A Buyer will need to offer a bid for each line item (loan). Please be advised that typically performing note which have been seasoned are sold for 85to 90% of their face value.
Floating Senior Loans
1) Retail Portfolio- SR. Participation 20 retail centers, Various
2) Mall 40+ Retail, VA
3) Industrial Manufacturing Portfolios , 60 industrial located in, IN, KS, MD
4) Industrial Portfolios , 41 industrial located in, Various states
Floating Rate B- Notes
1) Hotel Portfolio Mezz, 42 hotels in Various states
2) Viginia Mall Mezz, 44 Retail
3) NYC Hotel Mezz, 27 hotel
4) Florida Retail, 38 retail
5) Pennsylvania Office, 33 office
6) International Hotel, 57 hotels
7) International Hotel, 57 hotels
8) Metropolitan Office Mezz, 36 offices
9) Metropolitan Office Mezz, 36 offices
10) Luxury Hotel Mezz , 39 hotels
11) Luxury Hotel Mezz , 39 hotels
12) Luxury Hotel Mezz , 39 hotels
13) Metropolitan Hotel Mezz, 27 hotels
14) Metropolitan Hotel Mezz, 27 hotels
15) Hawaii Hotel B-note, 39 hotel
16) Hawaii Hotel B-note, 39 hotel
Fixed Loans
1) Michigan Office , 105 Offices
2) Ohio Offices , 107 Offices


PACKAGE # 5-26 – STATUS –AVAILABLE 6/09/09
Performing Notes for sale Arkansas
Hospital Performing
Payers credit over 700 FICO
Remaining Balance $107,000
Make offer


PACKAGE # 5-27 – STATUS –AVAILABLE 6/09/09
Performing Notes for sale Washington DC - 83,411 Square Feet
south of Class B Washington DC Suburban Office Property – 83,411 SF
$7.8M Owners valuation - Property is 100% occupied
Bank is willing to take 20% off, we are direct to bank
ACTUAL TTM NOI of $744,530 (9.5% DY to Last Dollar)


PACKAGE # 5-28 – STATUS – AVAILABLE 6/09/09
REO SFR LAND package
233 SFR Lots located in various states FL, NC,SC,
Owner BPO =$6.1.million
Make offer Plus 3 % in fees


PACKAGE # 5-29 – STATUS – AVAILABLE 6/09/09
REO Commercial LAND package
18 Lots located in various states FL, NC,SC,
4 commercial, 3 office buildings, 3 Convenience stores
Owner BPO =$71.3.million
Make offer Plus 3 % in fees


PACKAGE # 5-30 – STATUS – PENDING 6/09/09
REO SFR Los Angeles, CA
99 Single Family homes
BPO = 20,788,073
Price = 11,433,440
3.0% fees included in the Price
zip codes:90001,90002,90003,90026, 90037, 90011,90016 90018,90022,90032,90042,90044,90047,90059,90060,90061,90063,90065


PACKAGE # 5-31 – STATUS – PENDING 6/09/09
REO SFR Orange County, CA
73 Single Family homes 3+ bedroom, 2+ Baths
BPO = 26,354,574
Prices = 15,285,652
zip codes: 92831,92832,92833,92835,92675, and 8 SFR total in 91723,91724,91722,91724


PACKAGE # 5-32 – STATUS – AVAILABLE 6/09/09
REO COMMERCIAL Orlando, FL
5K Sq.ft., 1+ AC Historic 2 Story
BPO = $4.9 million
Asking = $3.3 Million


PACKAGE # 5-33 – STATUS – AVAILABLE 6/09/09
REO COMMERCIAL SpartanBerg, SC
30K Sq,ft. Hotel
BPO = $20 million
Asking = 18.00 Million


PACKAGE # 5-34 – STATUS – AVAILABLE 6/09/09
REO COMMERCIAL Columbia, SC
7+K Sq.ft. Restaurant
BPO = $1.7 million
Asking = $1.15 Million
Fees included


PACKAGE # 5-35 – STATUS – AVAILABLE 6/09/09
REO COMMERCIAL Tampa, FL
16K Sq.ft., Office Building
BPO = $1.0 million
Asking = $690K
Fees included


PACKAGE # 5-37 – STATUS – available 6/09/09
REO COMMERCIAL , NC
2,8K Sq.FT. Convenience store
BPO= $525K
Asking = $ 357K
Fees included


PACKAGE # 5-38 – STATUS – available 6/09/09
REO COMMERCIAL, GA, 4.3K Sq.ft. commercial building
BPO= $370K
Asking = $ 251K
Fees Included


PACKAGE # 5-39 – STATUS – available 6/09/09
REO COMMERCIAL, SC, 2.3K Sq.ft. convenience store
BPO= $350K
Asking = $ 231K
Fees Included


PACKAGE # 5-40 – STATUS – available 6/09/09
REO COMMERCIAL , NC, .8 AC. Convenience store
BPO= $370K
Asking = $ 251K
Fees Included


PACKAGE # 5-41 – STATUS – available 6/09/09
REO COMMERCIAL , FL, 4.3K Sq.ft. Office building
BPO = $380K
Asking $258K
Fees Included


PACKAGE # 5-42 – STATUS – updated 6/09/09
REO COMMERCIAL , NC, 2.8K Sq.ft. Convenience store
BPO= $274K
Asking $191K
Fees Included


PACKAGE # 5-43 – STATUS – available 6/09/09
REO COMMERCIAL , SC, 5K Sq. Ft. Restaurant
BPO = 350K
Asking = $228K
Fees Included


PACKAGE # 5-44 – STATUS – available 6/09/09
REO COMMERCIAL , NC, 1.2K Sq. Ft. Office
BPO = $220K
Asking =$149K
Fees Included


PACKAGE # 5-47 – STATUS – available 6/09/09
REO 48 SFR - New York properties in - Bronx (6), Brooklyn (11), Far Rockaway (6), Floral Park (1), Jamaica (5). FARMINGDALE (1), FREEPORT (3), SAINT ALBANS (1), Cambria Heights (1), East Elmhurst (1), Pleasant Valley (2), POUGHKEEPIE (8), South Ozone Park (3),
BPO estimate: $14.5 million
Price: Make an offer and include 3% fees


PACKAGE # 5-48 – STATUS – corrected 6/10/09
REO 12 projects in New York State some unfinished, total of 301 Apartments, 1 Commercial Condo
Cities: NYNY (3), Brooklyn (5), Flushing (2), Yonkers (1), Jersey City (1)
BPO estimate: $70.9 million
Available for sale on a line item basis!!
Price: Make an offer and include 3% fees


PACKAGE # 5-49 – STATUS – Revised 6/09/09
Non Performing (35) Notes
Colorado and Arizona - Commercial (3), Retail (3), Lots (8), SFR (13),Multi-Family(3), Retail (3), Office (4), Estate (1)
LTV % average 75%
Loan Value total is $57.6 million
Price: Make an offer and include 3% fees


PACKAGE # 5-50 – STATUS – available 6/09/09
14 Waterfront Condos and boat lifts. The project is 85%, FL
BPO finished in 2008 = $7.5 million
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-1 – STATUS – available 6/09/09
Non Performing Notes
14 office and retail New Units. 20,000+ sq.ft., FL
BPO fto be determined in Escrow
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees

PACKAGE # 6-2 – STATUS – available 6/09/09
Non Performing Notes
9 Condos 1,600+ Sq.Ft., FL
BPO to be determined in Escrow
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees

PACKAGE # 6-3 – STATUS – nonexclusive 6/09/09
Non Performing Notes
150+ room Hotel , FL
Recently Remodeled
BPO to be determined in Escrow
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-4 – STATUS – available 6/09/09
Non Performing Notes
3 Condos 2,000+ Sq.Ft., FL
Recently Remodeled
BPO estimated $340,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-5 – STATUS – Updated 6/09/09
Non Performing Notes
75+ unit Apartment building FL
BPO estimated $7,550,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-6 – STATUS – available 6/09/09
Non Performing Notes
1 Condo 4 bed ,3.5 baths(5,100+ Sq.Ft). FL
BPO estimated $1,250,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees

PACKAGE # 6-7 – STATUS – available 6/09/09
Non Performing Notes
2 Commercial building(16,100+ Sq.Ft). FL
BPO estimated $1,350,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-8 – STATUS – available 6/09/09
Non Performing Notes
13 Condos (1,100+ Sq.Ft). FL
BPO estimated $1,490,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees

PACKAGE # 6-9 – STATUS – nonexclusive 6/09/09
Non Performing Notes
11 Unit Strip Center (12,000+ Sq.Ft). FL
BPO estimated $1,890,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-10 – STATUS – nonexclusive 6/09/09
Non Performing Notes
1 Warehouse Flex Space(14,000+ Sq.Ft). FL
BPO estimated $968,153.00
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-11 – STATUS – available 6/09/09
Non Performing Notes
1 Warehouse Flex Space(14,000+ Sq.Ft). FL
BPO estimated $968,153.00
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-12 – STATUS – available 6/08/09
Non Performing Notes
1 Medical office building 4,000 Sq.Ft.. FL
BPO to be determined
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-13 – STATUS – available 6/08/09
Non Performing Notes
2 Building office complex (3,340+ Sq.Ft). FL
BPO estimated $524,900
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-14 – STATUS – available 6/08/09
Non Performing Notes
5 Condos 2/2 (950 Sq.Ft.) FL
BPO estimated $400,900
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-15 – STATUS – available 6/08/09
Non Performing Notes
20 units in 3 building FL
BPO to be determined
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees

PACKAGE # 6-16 – STATUS – nonexclusive 6/08/09
Non Performing Notes
1 Office condo 2,500+ Sq.Ft. FL
BPO to be determined
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-17 – STATUS – available 6/08/09
Non Performing Notes
1 SFR (2300+ Sq.Ft.) FL
BPO estimated $575,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-18 – STATUS – available 6/02/09
Non Performing Notes
1 Office condo 2,500+ Sq.Ft. FL
BPO to be determined
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-19 – STATUS – available 6/08/09
Non Performing Notes
1 Townhome (1200+ Sq.Ft.) FL
BPO estimated $375,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-20 – STATUS – available 6/02/09
Non Performing Notes
1 Townhome (2500+ Sq.Ft.) FL
BPO to be determined in escrow
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees

PACKAGE # 6-21 – STATUS – available 6/02/09
Non Performing Notes
1 SFR (2200+ Sq.Ft.) FL
BPO = 290K
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-22 – STATUS – available 6/08/09
Non Performing Notes
1 SFR (2400+ Sq.Ft.) FL
BPO = 200K
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-23 – STATUS – available 6/08/09
Non Performing Notes
1 Commercial Building (1600+ Sq.Ft.) FL
BPO = 270K
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees

PACKAGE # 6-24 – STATUS – available 6/08/09
Non Performing Commercial Notes
Pool value at 146 Million
24 notes,
States: NYNY, Bronx, Staten Island, Brooklyn, Ashbury Park, Jersey City, Ft Salonga, NY
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer include 3% fees


PACKAGE # 6-25 – STATUS – available 6/09/09
Non Performing Notes
44 Townhomes with 2 car Garage (1800+ Sq.Ft.) CA
Loan Balance 14.1MM
Status: 95% Complete
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer .68 cents on the BPO and include 3% fees


PACKAGE # 6-26 – STATUS – Sold 6/10/09
Non Performing Notes
2 notes New York, NY –
(1) Commercial office BPO = 66.1MM-LTV(68%),
(1) Multi-family BPO =77.3MM-LTV(49%)
Combined Loan Balances 64.4 MM
Status: Complete
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-27 – STATUS – Available 6/9/09
REO SFR 16+ state, Heavy in OH,MI, and PA
1096 Single Family homes
BPO = 70mm This is a owner estimate
Price = 12.6 mm
Make an offer include 3.0% fees


PACKAGE # 6-28 – STATUS – Available 6/9/09
REO state, Heavy in NV Las Vegas, Henderson, Reno, North Las Vegas
14 Single Family homes
BPO = 3.8mm This is a owner estimate
Price = 1.1 mm
Make an offer include 3.0% fees


PACKAGE # 6-29 – STATUS – Available 6/9/09
REO state, Heavy in AZ Maricopa,
87 Single Family homes
BPO = 11.1 mm This is a owner estimate
Price = 5.5 mm
Make an offer include 3.0% fees


PACKAGE # 6-30 – STATUS – duplicate 6/9/09


PACKAGE # 6-31 – STATUS – Available 6/9/09
REO state, Heavy in CA Southern California,
172 Single Family homes
BPO = 42.8 mm This is a owner estimate
Price = 26.28 mm
Make an offer include 3.0% fees


PACKAGE # 6-32 – STATUS – Available 6/9/09
REO state, Heavy in Orange County, Southern California,
60 Single Family homes
BPO = $23.8 mm This is a owner estimate
Price = $16.41 mm
Make an offer include 3.0% fees


PACKAGE # 6-33 – STATUS – SOLD 6/10/09
Performing Note Commercial Pool,
17 notes secured by Office, Hotel, anchored and un-anchored Retail
Loan Balance = $629.31 mm
Appraised Property collateral Price = $861.26 mm
Make an offer include 3.0% fees


PACKAGE # 6-34 – STATUS – SOLD 6/10/09
Performing Note Hotel Pool,
5 notes secured by (4)Hotel, FL and Cayman Islands
Loan Balance = $226.31 mm
Appraised Property collateral Price = $661.1 mm
Make an offer include 3.0% fees


PACKAGE # 6-35 – STATUS – SOLD 6/10/09
Performing Note Hotel Pool,
1 notes secured by (1)Hotel, State AZ
Loan Balance = $13.6 mm
Appraised Property collateral Price = $17.5 mm
Make an offer include 3.0% fees


PACKAGE # 6-36 – STATUS – SOLD 6/10/09
Performing Note Multi-Family Pool,
8 notes secured by (8)Properties State LA, ID, SC, IL, OH, CA
Loan Balance = $172.4 mm
Appraised Property collateral Price = $238.19 mm
Make an offer include 3.0% fees


PACKAGE # 6-37 – STATUS – Available 6/9/09
Performing Note Commercial Pool- Ohio
1 notes secured by (2) apartment complexes (245+ units)
Loan Balance = $9.26 mm
Appraised Property collateral Price = $14.56 mm
Make an offer 82% plus 3.0% fees


PACKAGE # 6-38 – STATUS – Available 6/9/09
Non- Performing Multi-family Notes for Sale
A Buyer will need to offer a bid for each line item (loan). Please be advised that typically performing note which have been seasoned are sold for 55 to 70% of their face value.
1) 21 Units, Location CT
2) 24 Units, Location CT
3) 60 Units, Location CT
4) 84 Units, Location CT
5) Mixed use, Location NJ
6) 72 Units, Location NJ
7) Mixed use 18 Units, Location NJ
8) 7 Units, Location NJ
9) 25 Units, Location NJ
10) 13 Units, Location NJ
11) 5 Units, Location NJ
12) 7 Units, Location NJ
13) 5 Units, Location NY
14) 28 Units, Location NY
15) 16 Units, Location NY
16) 11 Units, Location NY
17) 10 Units, Location NY
18) 6 Units, Location NY
19) Mixed use 2 commercial and 6 Units, Location NY
20) 10 Units, Location NY
21) 7 Units, Location NY
22) 9 units , Location NY


PACKAGE # 6-39 – STATUS – Available 6/9/09
REO state, Georgia,
150 Single Family homes
BPO = $35.65 mm This is a owner estimate
Price = $21.19 mm
Includes 3.0% fees in price


PACKAGE # 6-40 – STATUS – Available 6/9/09
Non-Performing (Foreclosure) in progress, State MI
Hotel 390+ Rooms with conference center
10 MM Non performing Debt Facility A Buyer will need to offer a bid for each line item (loan). Please be advised that typically performing note which have been seasoned are sold for 35 to 50% of their face value.


PACKAGE # 6-41 – STATUS – Available 6/9/09
Non-Performing (Foreclosure) in progress, US Territory
Hotel (Flagged) (425+) Rooms with conference center
Non performing Debt Facility Via Bank
Financing is available with 11 million down good terms available
08 Storm damaged to be repaired 5 million required
BPO = $61.7 million
Price= $26.5 million
Make an offer 43% of BPO includes all fees


PACKAGE # 6-42 – STATUS – Available 6/9/09
REO HOTEL 155+ rooms (Flagged) State: FL Near Disneyworld
Remodeled in 2008
BPO = 7.5 mm
Price = 5.9mm Fees included in sales price
+


PACKAGE # 6-43 – STATUS – Available 6/10/09
Non-Performing Note SFR Pool,
12 notes, State CA, FL, GA, WI
Loan Balance = $2.4 mm
Sales Price = $1.16 mm
Make an offer fees included in sales price


PACKAGE # 6-44 – STATUS – Available 6/10/09
Performing Note Hotel Pool,
120 notes secured by (120 SFR), State TX
Loan Balance = $2.7 mm
Appraised Property collateral Price = $1.86 mm
Make an offer include 3.0% fees


PACKAGE # 6-45 – STATUS – Available 6/10/09
Performing Note Pool,
2 notes secured by Long Beach CA. 4-plex and duplex
Loan Balance = $600K
Sale Price = $480K
Make an offer include 3.0% fees

REO bulk Sales are just getting started

Folks check out this article becuase it is an eye opener.

http://exiledonline.com/depression-porn-gaming-the-real-estate-market/2/

REO Bulk Sales in June off to the Races!!!

This is the June 3rd, 2009 summary of available packages for sale. All Sold packages are noted and will be removed next week.
Make an offer in the form or a “Letter of Interest” and a Non-circumvention agreement (we provide), also be prepared to provide Soft Proof of funds to the bank.
Make an offer regardless of the sales price or asking price!
Real Estate Owned by the Bank (REO)
Make an offer in the form or a “Letter of Intent” and a Non-circumvention and Non-Disclosure agreement (we provide the LOI template for you), also be prepared to provide Soft Proof of funds to the bank. (see attached preferred LOI format)
Make an offer regardless of the sales price or asking price!
PERFORMING NOTES
Performing Note packages are available for purchase by submitting a "Letter of Interest" which must include at a minimum the name of the buyer and their attorneys that will handle proof of fund.
The Buyer and the Buyers representative must sign and return a NCND to Continental Funding Company.
A Note Buyer will need to offer a bid for each line item (loan). Please be advised that typically performing note which have been seasoned are sold for 85to 90% of their face value.

For more information: Call our partner Continental Funding Company 775-853-5626

PACKAGE # 5-4e AVAILABLE – 6/01/09
REO SFR Package
25 SFRs and couple of duplexes All in GA.
BPO to be determined in Escrow estimated value is 2.7 million
Sales Price = $1,334,270


PACKAGE # 5-4f – SOLD – 5/29/09
29 SFR and Multi-family in CT (11),NJ(7), NY(11).
BPO to be determined in Escrow estimated value is 6.4 million
Sales Price = $3,642,390


PACKAGE # 5-4i – AVAILABLE – 6/01/09
REO SFR Package
51 SFR all in Florida
Asking 10.2 million
BPO to be determined in escrow (make an offer)

Make offer Plus 3 % in fees


PACKAGE # 5-4j – AVAILABLE – 6/01/09
REO unfinished Condos Package with 10K commercial leased 20+ years
70+ SFR all in downtown Los Angeles, CA
Units are 800 to 1500 square feet
BPO to be determined in escrow (make an offer)
Make offer Plus 3 % in fees


PACKAGE # 5-4k – AVAILABLE – 6/01/09
REO SFR
28 SFR in GA, NC, VA,WV, MD,
BPO to be determined in escrow (make an offer)
Make offer Plus 3 % in fees


PACKAGE # 5-4L – AVAILABLE – 6/2/09
REO SFR
103 SFR in AZ, CA
BPO to be determined in escrow (make an offer)
Make offer Plus 3 % in fees


PACKAGE # 5-4m – AVAILABLE – 6/2/09
REO SFR
10 SFR in NV
BPO to be determined in escrow (make an offer)
Owner estimate $1.4 million
Make offer Plus 3 % in fees


PACKAGE # 5-4n – DUPLICATE REMOVED – 6/2/09


PACKAGE # 5-4n1 – AVAILABLE – 6/2/09
REO SFR - 22 SFR in CA, Los Angeles
BPO estimate $7,039,000
Asking Price: $4.426 million
Make offer Plus 3 % in fees


PACKAGE # 5-4o – DUPLCIATE REMOVED– 6/2/09


PACKAGE # 5-4o1 - PENDING – 6/2/09
REO SFR - 7 SFR in Los Angeles, CA
BPO to $982,205
Asking Price: $879,278
Make offer Plus 3 % in fees


PACKAGE # 5-4p – PENDING – 6/02/09
REO SFR - 10 SFR in Los Angeles, CA
BPO to $3.273 million
Asking Price: $1,816,499
Make offer Plus 3 % in fees


PACKAGE # 5-4r – AVAILABLE – 6/2/09
REO - 97 Florida SFR
BPO to be determined in Escrow
Seller will accept 60 cents of current BPO
Make offer Plus 3 % in fees


PACKAGE # 5-4s - AVAILABLE – 6/2/09
REO 93 SFR - AL (5), CA (1), CO (1), FL (2), GA (3), IA (2), IL(34), IN (3), KS (3), KY (4)MA (1), ME(1),MI(6),MN(3), MO (4), NY (1)
Asking price with fees is $896,000.00
Private Investor Sales
Make offer fees included


PACKAGE # 5-5 – STATUS –AVAILABLE 6/3/09
Non Performing Note Package Multi-family & Commercial assets including:
States and quantities in those states: CT(7), FL (2), IL (3) , NJ (12), NY(22), PA( 2)
Apartments, Multi-family plus small retail, and office
49 notes valued at $57,044,686 - LTV average 70%
Priced at 81 cents on the dollar = $46,206,196
To review tape make an offer in the form of an Letter of Interest (LOI) and provide SPOF contact information in the LOI.

PACKAGE # 5-6 – –AVAILABLE 6/2/09
Performing Hotel 1st Trust Deeds for sale both borrowers
1) 3.054 million note , rate 6.642, 10 year with balloon, LTV 63.00% Discounted to
$2,473,910 - Available
Available for 81 cents on the dollar.
To review tape:
Make an offer in LOI for and include contract POF information.


PACKAGE # 5-10 – STATUS –AVAILABLE 6/3/09
Performing Hotel and Retail Notes for Sale
A Buyer will need to offer a bid for each line item (loan). Please be advised that typically performing note which have been seasoned are sold for 85to 90% of their face value.
Floating Senior Loans
1) Retail Portfolio- SR. Participation 20 retail centers, Various
2) Mall 40+ Retail, VA
3) Industrial Manufacturing Portfolios , 60 industrial located in, IN, KS, MD
4) Industrial Portfolios , 41 industrial located in, Various states
Floating Rate B- Notes
1) Hotel Portfolio Mezz, 42 hotels in Various states
2) Viginia Mall Mezz, 44 Retail
3) NYC Hotel Mezz, 27 hotel
4) Florida Retail, 38 retail
5) Pennsylvania Office, 33 office
6) International Hotel, 57 hotels
7) International Hotel, 57 hotels
8) Metropolitan Office Mezz, 36 offices
9) Metropolitan Office Mezz, 36 offices
10) Luxury Hotel Mezz , 39 hotels
11) Luxury Hotel Mezz , 39 hotels
12) Luxury Hotel Mezz , 39 hotels
13) Metropolitan Hotel Mezz, 27 hotels
14) Metropolitan Hotel Mezz, 27 hotels
15) Hawaii Hotel B-note, 39 hotel
16) Hawaii Hotel B-note, 39 hotel
Fixed Loans
1) Michigan Office , 105 Offices
2) Ohio Offices , 107 Offices


PACKAGE # 5-26 – STATUS –AVAILABLE 5/26/09
Performing Notes for sale Arkansas
Hospital Performing
Payers credit over 700 FICO
Remaining Balance $107,000
Make offer


PACKAGE # 5-27 – STATUS –AVAILABLE 6/2/09
Performing Notes for sale Washington DC - 83,411 Square Feet
south of Class B Washington DC Suburban Office Property – 83,411 SF
$7.8M Owners valuation - Property is 100% occupied
Bank is willing to take 20% off, we are direct to bank
ACTUAL TTM NOI of $744,530 (9.5% DY to Last Dollar)


PACKAGE # 5-28 – STATUS – AVAILABLE 6/2/09
REO SFR LAND package
233 SFR Lots located in various states FL, NC,SC,
Owner BPO =$6.1.million
Make offer Plus 3 % in fees


PACKAGE # 5-29 – STATUS – AVAILABLE 6/2/09
REO Commercial LAND package
18 Lots located in various states FL, NC,SC,
4 commercial, 3 office buildings, 3 Convenience stores
Owner BPO =$71.3.million
Make offer Plus 3 % in fees


PACKAGE # 5-30 – STATUS – PENDING 6/2/09
REO SFR Los Angeles, CA
99 Single Family homes
BPO = 20,788,073
Price = 11,433,440
3.0% fees included in the Price
zip codes:90001,90002,90003,90026, 90037, 90011,90016 90018,90022,90032,90042,90044,90047,90059,90060,90061,90063,90065


PACKAGE # 5-31 – STATUS – PENDING 6/2/09
REO SFR Orange County, CA
73 Single Family homes 3+ bedroom, 2+ Baths
BPO = 26,354,574
Prices = 15,285,652
zip codes: 92831,92832,92833,92835,92675, and 8 SFR total in 91723,91724,91722,91724


PACKAGE # 5-32 – STATUS – AVAILABLE 6/2/09
REO COMMERCIAL Orlando, FL
5K Sq.ft., 1+ AC Historic 2 Story
BPO = $4.9 million
Asking = $3.3 Million


PACKAGE # 5-33 – STATUS – AVAILABLE 6/2/09
REO COMMERCIAL SpartanBerg, SC
30K Sq,ft. Hotel
BPO = $20 million
Asking = 18.00 Million

PACKAGE # 5-34 – STATUS – AVAILABLE 6/2/09
REO COMMERCIAL Columbia, SC
7+K Sq.ft. Restaurant
BPO = $1.7 million
Asking = $1.15 Million
Fees included


PACKAGE # 5-35 – STATUS – AVAILABLE 6/02/09
REO COMMERCIAL Tampa, FL
16K Sq.ft., Office Building
BPO = $1.0 million
Asking = $690K
Fees included


PACKAGE # 5-37 – STATUS – available 6/2/09
REO COMMERCIAL , NC
2,8K Sq.FT. Convenience store
BPO= $525K
Asking = $ 357K
Fees included


PACKAGE # 5-38 – STATUS – available 6/2/09
REO COMMERCIAL, GA, 4.3K Sq.ft. commercial building
BPO= $370K
Asking = $ 251K
Fees Included


PACKAGE # 5-39 – STATUS – available 6/2/09
REO COMMERCIAL, SC, 2.3K Sq.ft. convenience store
BPO= $350K
Asking = $ 231K
Fees Included


PACKAGE # 5-40 – STATUS – available 6/2/09
REO COMMERCIAL , NC, .8 AC. Convenience store
BPO= $370K
Asking = $ 251K
Fees Included


PACKAGE # 5-41 – STATUS – available 5/26/09
REO COMMERCIAL , FL, 4.3K Sq.ft. Office building
BPO = $380K
Asking $258K
Fees Included

PACKAGE # 5-42 – STATUS – updated 6/2/09
REO COMMERCIAL , NC, 2.8K Sq.ft. Convenience store
BPO= $274K
Asking $191K
Fees Included


PACKAGE # 5-43 – STATUS – available 6/2/09
REO COMMERCIAL , SC, 5K Sq,Ft. Restaurant
BPO = 350K
Asking = $228K
Fees Included


PACKAGE # 5-44 – STATUS – available 6/2/09
REO COMMERCIAL , NC, 1.2K Sq. Ft. Office
BPO = $220K
Asking =$149K
Fees Included


PACKAGE # 5-45 – STATUS – SOLD 5/29/09
Buyer Alert! Buyer beware
All Properties are REO
You must do diligence!
19 Multi-family properties in Bronx (6), Brooklyn (5), Far Rockaway (2), Flushing (1), Jamaica (5)
BPO estimate: $3.17 million
Price: $1.7 million includes 3% fee


PACKAGE # 5-46 – STATUS – SOLD 5/29/09
Buyer Alert! Buyer beware
All Properties are REO SFR, Multifamily, Commercial and Retail
You must do diligence!
24 Multi-family properties in NY - Bronx (6), Brooklyn (7), Far Rockaway (4), Floral Park (1), Jamaica (3), NEW HYDE PARK (1), ROSEDALE (2), SAINT ALBANS (2), SOUTH OZONE PARK (1), SPRINGFIELD GARDEN (1),
BPO estimate: $5.8 million
Price: $3.0 million includes 3% fee

PACKAGE # 5-47 – STATUS – available 6/2/09
REO 48 SFR - New York properties in - Bronx (6), Brooklyn (11), Far Rockaway (6), Floral Park (1), Jamaica (5). FARMINGDALE (1), FREEPORT (3), SAINT ALBANS (1), Cambria Heights (1), East Elmhurst (1), Pleasant Valley (2), POUGHKEEPIE (8), South Ozone Park (3),
BPO estimate: $14.5 million
Price: Make an offer and include 3% fees


PACKAGE # 5-48 – STATUS – corrected 6/3/09
REO 12 projects in New York State some unfinished, total of 301 Apartments, 1 Commercial Condo
Cities: NYNY (3), Brooklyn (5), Flushing (2), Yonkers (1), Jersey City (1)
BPO estimate: $70.9 million
Price: Make an offer and include 3% fees


PACKAGE # 5-49 – STATUS – Revised 6/2/09
Non Performing (35) Notes
Colorado and Arizona - Commercial (3), Retail (3), Lots (8), SFR (13),Multi-Family(3), Retail (3), Office (4), Estate (1)
LTV % average 75%
Loan Value total is $57.6 million
Price: Make an offer and include 3% fees


PACKAGE # 5-50 – STATUS – available 6/2/09
14 Waterfront Condos and boat lifts. The project is 85%, FL
BPO finished in 2008 = $7.5 million
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-1 – STATUS – available 6/02/09
Non Performing Notes
14 office and retail New Units. 20,000+ sq.ft., FL
BPO fto be determined in Escrow
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees

PACKAGE # 6-2 – STATUS – available 6/02/09
Non Performing Notes
9 Condos 1,600+ Sq.Ft., FL
BPO to be determined in Escrow
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees

PACKAGE # 6-3 – STATUS – available 6/02/09
Non Performing Notes
150+ room Hotel , FL
Recently Remodeled
BPO to be determined in Escrow
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-4 – STATUS – available 6/02/09
Non Performing Notes
3 Condos 2,000+ Sq.Ft., FL
Recently Remodeled
BPO estimated $340,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-5 – STATUS – available 6/02/09
Non Performing Notes
70+ unit Apartment building FL
BPO estimated $7,550,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-6 – STATUS – available 6/02/09
Non Performing Notes
1 Condo 4 bed ,3.5 baths(5,100+ Sq.Ft). FL
BPO estimated $1,250,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees

PACKAGE # 6-7 – STATUS – available 6/02/09
Non Performing Notes
2 Commercial building(16,100+ Sq.Ft). FL
BPO estimated $1,350,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-8 – STATUS – available 6/02/09
Non Performing Notes
13 Condos (1,100+ Sq.Ft). FL
BPO estimated $1,490,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees

PACKAGE # 6-9 – STATUS – available 6/02/09
Non Performing Notes
11 Unit Strip Center (12,000+ Sq.Ft). FL
BPO estimated $1,890,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-10 – STATUS – available 6/02/09
Non Performing Notes
1 Warehouse Flex Space(14,000+ Sq.Ft). FL
BPO estimated $968,153.00
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-11 – STATUS – available 6/02/09
Non Performing Notes
1 Warehouse Flex Space(14,000+ Sq.Ft). FL
BPO estimated $968,153.00
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-12 – STATUS – available 6/02/09
Non Performing Notes
1 Medical office building 4,000 Sq.Ft.. FL
BPO to be determined
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-13 – STATUS – available 6/02/09
Non Performing Notes
2 Building office complex (3,340+ Sq.Ft). FL
BPO estimated $524,900
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-14 – STATUS – available 6/02/09
Non Performing Notes
5 Condos 2/2 (950 Sq.Ft.) FL
BPO estimated $400,900
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-15 – STATUS – available 6/02/09
Non Performing Notes
20 units in 3 building FL
BPO to be determined
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees

PACKAGE # 6-16 – STATUS – available 6/02/09
Non Performing Notes
1 Office condo 2,500+ Sq.Ft. FL
BPO to be determined
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-17 – STATUS – available 6/02/09
Non Performing Notes
1 SFR (2300+ Sq.Ft.) FL
BPO estimated $575,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-18 – STATUS – available 6/02/09
Non Performing Notes
1 Office condo 2,500+ Sq.Ft. FL
BPO to be determined
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-19 – STATUS – available 6/02/09
Non Performing Notes
1 Townhome (1200+ Sq.Ft.) FL
BPO estimated $375,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-20 – STATUS – available 6/02/09
Non Performing Notes
1 Townhome (2500+ Sq.Ft.) FL
BPO to be determined in escrow
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees

PACKAGE # 6-21 – STATUS – available 6/02/09
Non Performing Notes
1 SFR (2200+ Sq.Ft.) FL
BPO = 290K
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-22 – STATUS – available 6/02/09
Non Performing Notes
1 SFR (2400+ Sq.Ft.) FL
BPO = 200K
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-23 – STATUS – available 6/02/09
Non Performing Notes
1 Commercial Building (1600+ Sq.Ft.) FL
BPO = 270K
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees

PACKAGE # 6-24 – STATUS – available 6/02/09
Non Performing Commercial Notes
Pool value at 146 Million
24 notes,
States: NYNY, Bronx, Staten Island, Brooklyn, Ashbury Park, Jersey City, Ft Salonga, NY
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer include 3% fees


PACKAGE # 6-25 – STATUS – available 6/022/09
Non Performing Notes
42+ Townhomes with 2 car Garage (1800+ Sq.Ft.) CA
Loan Balance 14.1MM
Status: 95% Complete
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-26 – STATUS – available 6/02/09
Non Performing Notes
2 notes New York, NY –
(1) Commercial office BPO = 66.1MM-LTV(68%),
(1) Multi-family BPO =77.3MM-LTV(49%)
Combined Loan Balances 64.4 MM
Status: Complete
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% fees


PACKAGE # 6-27 – STATUS – Available 6/2/09
REO SFR 16+ state, Heavy in OH,MI, and PA
1096 Single Family homes
BPO = 70mm This is a owner estimate
Price = 12.6 mm
Make an offer include 3.0% fees


PACKAGE # 6-28 – STATUS – Available 6/3/09
REO state, Heavy in NV Las Vegas, Henderson, Reno, North Las Vegas
14 Single Family homes
BPO = 3.8mm This is a owner estimate
Price = 1.1 mm
Make an offer include 3.0% fees


PACKAGE # 6-29 – STATUS – Available 6/3/09
REO state, Heavy in AZ Maricopa,
87 Single Family homes
BPO = 11.1 mm This is a owner estimate
Price = 5.5 mm
Make an offer include 3.0% fees


PACKAGE # 6-30 – STATUS – Available 6/3/09
REO state, Heavy in AZ Maricopa,
16 Single Family homes
BPO = 11.1 mm This is a owner estimate
Price = 5.5 mm
Make an offer include 3.0% fees


PACKAGE # 6-31 – STATUS – Available 6/3/09
REO state, Heavy in CA Southern California,
172 Single Family homes
BPO = 42.8 mm This is a owner estimate
Price = 26.28 mm
Make an offer include 3.0% fees

REO May 26th Inventory for Sale

This is the May 26th, 2009 summary of available packages for sale. All Sold packages are noted and will be removed next week.
Make an offer in the form or a “Letter of Interest” and a Non-circumvention agreement (we provide), also be prepared to provide Soft Proof of funds to the bank.
Make an offer regardless of the sales price or asking price!
Real Estate Owned by the Bank (REO)
Make an offer in the form or a “Letter of Intent” and a Non-circumvention and Non-Disclosure agreement (we provide the LOI template for you), also be prepared to provide Soft Proof of funds to the bank. (see attached preferred LOI format)
Make an offer regardless of the sales price or asking price!
PERFORMING NOTES
Performing Note packages are available for purchase by submitting a "Letter of Interest" which must include at a minimum the name of the buyer and their attorneys that will handle proof of fund.
The Buyer and the Buyers representative must sign and return a NCND to Continental Funding Company.
A Note Buyer will need to offer a bid for each line item (loan). Please be advised that typically performing note which have been seasoned are sold for 85to 90% of their face value.

For more information: Call our partner Continental Funding Company 775-853-5626


PACKAGE # 5-4d – AVAILABLE – 5/26/09
REO SFR Package
58 in 7 states (BECOME A BANK)
BPO to be determined in Escrow estimated value $3,548,000

Sales Price = $723,999


PACKAGE # 5-4e AVAILABLE – 5/26/09
REO SFR Package
25 SFRs and couple of duplexes All in GA.
BPO to be determined in Escrow estimated value is 2.7 million

Sales Price = $1,334,270


PACKAGE # 5-4f – AVAILABLE – 5/26/09
29 SFR and Multi-family in CT (11),NJ(7), NY(11).
BPO to be determined in Escrow estimated value is 6.4 million

Sales Price = $3,642,390


PACKAGE # 5-4i – AVAILABLE – 5/26/09
REO SFR Package
51 SFR all in Florida
Asking 10.2 million
BPO to be determined in escrow (make an offer)

Make offer Plus 3 % in fees


PACKAGE # 5-4j – AVAILABLE – 5/26/09
REO unfinished Condos Package with 10K commercial leased 20+ years
70+ SFR all in downtown Los Angeles, CA
Units are 800 to 1500 square feet
BPO to be determined in escrow (make an offer)

Make offer Plus 3 % in fees


PACKAGE # 5-4k – AVAILABLE – 5/26/09
REO SFR
28 SFR in GA, NC, VA,WV, MD,
BPO to be determined in escrow (make an offer)

Make offer Plus 3 % in fees


PACKAGE # 5-4L – AVAILABLE – 5/26/09
REO SFR
103 SFR in AZ, CA
BPO to be determined in escrow (make an offer)

Make offer Plus 3 % in fees

PACKAGE # 5-4m – AVAILABLE – 5/26/09
REO SFR
10 SFR in NV
BPO to be determined in escrow (make an offer)

Owner estimate $1.4 million

Make offer Plus 3 % in fees


PACKAGE # 5-4n – AVAILABLE – 5/26/09
REO SFR
10 SFR in NV
BPO to be determined in escrow (make an offer)


PACKAGE # 5-4n1 – AVAILABLE – 5/26/09
REO SFR
22 SFR in CA, Los Angeles
BPO estimate $7,039,000
Asking Price: $4.426 million
Make offer Plus 3 % in fees


PACKAGE # 5-4o – AVAILABLE – 5/26/09
REO SFR
22 SFR in CA, Los Angeles
BPO estimate $7,039,000
Asking Price: $4.426 million
Make offer Plus 3 % in fees


PACKAGE # 5-4o1 - AVAILABLE – 5/26/09
REO SFR
7 SFR in Los Angeles, CA
BPO to $982,205
Asking Price: $879,278
Make offer Plus 3 % in fees


PACKAGE # 5-4p – AVAILABLE – 5/26/09
REO SFR
10 SFR in Los Angeles, CA
BPO to $3.273 million
Asking Price: $1,816,499
Make offer Plus 3 % in fees


PACKAGE # 5-4r – AVAILABLE – 5/26/09
REO
97 Florida SFR
BPO to be determined in Escrow
Seller will accept 60 cents of current BPO
Make offer Plus 3 % in fees


PACKAGE # 5-4s - AVAILABLE – 5/26/09
REO 93 SFR - AL (5), CA (1), CO (1), FL (2), GA (3), IA (2), IL(34), IN (3), KS (3), KY (4)MA (1), ME(1),MI(6),MN(3), MO (4), NY (1)
Asking price with fees is $896,000.00
Private Investor Sales
Make offer fees included


PACKAGE # 5-5 – STATUS –AVAILABLE 5/26/09
Non Performing Note Package Multi-family & Commercial assets including:
States and quantities in those states: CT(7), FL (2), IL (3) , NJ (12), NY(22), PA( 2)
Apartments, Multi-family plus small retail, and office
49 notes valued at $57,044,686 - LTV average 70%
Priced at 81 cents on the dollar = $46,206,196
To review tape make an offer in the form of an Letter of Interest (LOI) and provide SPOF contact information in the LOI.

PACKAGE # 5-6 – –AVAILABLE 5/26/09
Performing Hotel 1st Trust Deeds for sale both borrowers
1) 3.054 million note , rate 6.642, 10 year with balloon, LTV 63.00% Discounted to
$2,473,910 - Available
Available for 81 cents on the dollar.
To review tape:
Make an offer in LOI for and include contract POF information.


PACKAGE # 5-10 – STATUS –AVAILABLE 5/26/09
Performing Hotel and Retail Notes for Sale
A Buyer will need to offer a bid for each line item (loan). Please be advised that typically performing note which have been seasoned are sold for 85to 90% of their face value.
Floating Senior Loans
1) Retail Portfolio- SR. Participation 20 retail centers, Various
2) Mall 40+ Retail, VA
3) Industrial Manufacturing Portfolios , 60 industrial located in, IN, KS, MD
4) Industrial Portfolios , 41 industrial located in, Various states
Floating Rate B- Notes
1) Hotel Portfolio Mezz, 42 hotels in Various states
2) Viginia Mall Mezz, 44 Retail
3) NYC Hotel Mezz, 27 hotel
4) Florida Retail, 38 retail
5) Pennsylvania Office, 33 office
6) International Hotel, 57 hotels
7) International Hotel, 57 hotels
8) Metropolitan Office Mezz, 36 offices
9) Metropolitan Office Mezz, 36 offices
10) Luxury Hotel Mezz , 39 hotels
11) Luxury Hotel Mezz , 39 hotels
12) Luxury Hotel Mezz , 39 hotels
13) Metropolitan Hotel Mezz, 27 hotels
14) Metropolitan Hotel Mezz, 27 hotels
15) Hawaii Hotel B-note, 39 hotel
16) Hawaii Hotel B-note, 39 hotel
Fixed Loans
1) Michigan Office , 105 Offices
2) Ohio Offices , 107 Offices


PACKAGE # 5-26 – STATUS –AVAILABLE 5/26/09
Performing Notes for sale Arkansas
Hospital Performing
Payers credit over 700 FICO
Remaining Balance $107,000
Make offer


PACKAGE # 5-27 – STATUS –AVAILABLE 5/26/09
Performing Notes for sale Washington DC - 83,411 Square Feet
south of Class B Washington DC Suburban Office Property – 83,411 SF
$7.8M Owners valuation - Property is 100% occupied
Bank is willing to take 20% off, we are direct to bank
ACTUAL TTM NOI of $744,530 (9.5% DY to Last Dollar)


PACKAGE # 5-28 – STATUS – AVAILABLE 5/26/09
REO SFR LAND package
233 SFR Lots located in various states FL, NC,SC,
Owner BPO =$6.1.million
Make offer Plus 3 % in fees


PACKAGE # 5-29 – STATUS – AVAILABLE 5/26/09
REO Commercial LAND package
18 Lots located in various states FL, NC,SC,
4 commercial, 3 office buildings, 3 Convenience stores
Owner BPO =$71.3.million
Make offer Plus 3 % in fees


PACKAGE # 5-30 – STATUS – AVAILABLE 5/26/09
REO SFR Los Angeles, CA
99 Single Family homes
BPO = 20,788,073
Price = 11,433,440
3.0% fees included in the Price
zip codes:90001,90002,90003,90026, 90037, 90011,90016 90018,90022,90032,90042,90044,90047,90059,90060,90061,90063,90065


PACKAGE # 5-31 – STATUS – AVAILABLE 5/26/09
REO SFR Orange County, CA
73 Single Family homes 3+ bedroom, 2+ Baths
BPO = 26,354,574
Prices = 15,285,652
zip codes: 92831,92832,92833,92835,92675, and 8 SFR total in 91723,91724,91722,91724

PACKAGE # 5-32 – STATUS – AVAILABLE 5/26/09
REO COMMERCIAL Orlando, FL
5K Sq.ft., 1+ AC Historic 2 Story
BPO = $4.9 million
Asking = $3.3 Million

PACKAGE # 5-33 – STATUS – AVAILABLE 5/26/09
REO COMMERCIAL SpartanBerg, SC
30K Sq,ft. Hotel
BPO = $20 million
Asking = 18.00 Million

PACKAGE # 5-34 – STATUS – AVAILABLE 5/26/09
REO COMMERCIAL Columbia, SC
7+K Sq.ft. Restaurant
BPO = $1.7 million
Asking = $1.15 Million
Fees included


PACKAGE # 5-35 – STATUS – AVAILABLE 5/26/09
REO COMMERCIAL Tampa, FL
16K Sq.ft., Office Building
BPO = $1.0 million
Asking = $690K
Fees included


PACKAGE # 5-37 – STATUS – available 5/26/09
REO COMMERCIAL , NC
2,8K Sq.FT. Convenience store
BPO= $525K
Asking = $ 357K
Fees included


PACKAGE # 5-38 – STATUS – available 5/26/09
REO COMMERCIAL, GA, 4.3K Sq.ft. commercial building
BPO= $370K
Asking = $ 251K
Fees Included


PACKAGE # 5-39 – STATUS – available 5/26/09
REO COMMERCIAL, SC, 2.3K Sq.ft. convenience store
BPO= $350K
Asking = $ 231K
Fees Included


PACKAGE # 5-40 – STATUS – available 5/26/09
REO COMMERCIAL , NC, .8 AC. Convenience store
BPO= $370K
Asking = $ 251K
Fees Included


PACKAGE # 5-41 – STATUS – available 5/26/09
REO COMMERCIAL , FL, 4.3K Sq.ft. Office building
BPO = $380K
Asking $258K
Fees Included
PACKAGE # 5-42 – STATUS – available 5/26/09
REO COMMERCIAL , NC, 2.8K Sq.ft. Building
BPO= $274K
Asking $191K
Fees Included


PACKAGE # 5-43 – STATUS – available 5/26/09
REO COMMERCIAL , SC, 5K Sq,Ft. Restaurant
BPO = 350K
Asking = $228K
Fees Included


PACKAGE # 5-44 – STATUS – available 5/25/09
REO COMMERCIAL , NC, 1.2K Sq. Ft. Office
BPO = $220K
Asking =$149K
Fees Included