REO & NOTE for Sale

This is the May 13th, 2009 summary of available packages for sale.
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!

Performing Note packages are available for purchase buy making a offer. Any line item can be purchased separately.

To get more information about any Note package please submit a “Letter of Interest” made out to Remcor’s Partner “Continental Funding”. The two available Note Types represented in the following section are Performing Convenience Stores, and hotel/motel loans.

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.

PACKAGE # 5-4 – STATUS – 5/11/09
REO SFR Package
Nation wide SFR

716 homes in many states!

BPO 90 days old = $45,332,939

Sales Price = $9,338,585


PACKAGE # 5-4a – STATUS – 5/12/09
REO SFR Package
Nation wide SFR

398 homes in many states!

BPO 90 days old = $36,051,000

Sales Price = $5,941,357


PACKAGE # 5-4b – STATUS – 5/12/09
REO SFR Package
350 homes nation wide
BPO 90 days old = $20,697,069

Sales Price = $8,944,999


PACKAGE # 5-4c – STATUS – 5/12/09
REO SFR Package
316 All Ohio (BECOME A BANK)
BPO to be determined in Escrow

Sales Price = $1,478,999

PACKAGE # 5-4d – STATUS – 5/12/09
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 – STATUS – 5/12/09
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 – STATUS – 5/05/09
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 # 5-4H – SOLD – 5/13/09
REO SFR Package
1200 SFRs Nation Wide (No California)
BPO to be determined in escrow (make an offer)

Make offer Plus 3 % in fees


PACKAGE # 5-4i – STATUS – 5/12/09
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 – STATUS – 5/12/09
REO unfinished Condos Package with 10K commercial leased 20+ years
58+ 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 5/13/09
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 5/13/09
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 5/13/09
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 5/13/09
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 5/13/09
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 5/13/09
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 # 5-4q – Available 5/13/09
REO SFR
178 SFR and some condos in 52 (TX), (72) So. CA, (54) No. CA
BPO to $19.286 million

Asking Price: $9,939,500

Make offer Plus 3 % in fees


PACKAGE # 5-5 – STATUS –AVAILABLE 5/13/09
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 – STATUS – 5/13/09

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 5/13/09
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
5)
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 # 5-15 – STATUS - 5/13/09
NON- Performing NOTES
Current Loan Value = $47,356,460
Sales Price $28,413,976
Loan value
State
City
Description
Asking Price
$3,370,731
MI
Holly
Retail & Industrial Building
$2,022,438.74
$1,799,755
MI
Detroit
Real Estate
$1,079,853.02
$4,994,267
MI
Detroit
Real Estate
$2,996,560.23
$21,141,687
FL
Ft Lauderdale
Condominiums
$12,685,012.00
$1,532,258
MI
Milan
Real Estate
$919,354.90
$3,896,221
MI
Wixom
17 attached condo units
$2,337,732.86
$1,960,469
MI
Wixom
67 improved attached condo sites
$1,176,281.24
$2,212,960
MI
Wixom
20.51 acres for proposed 90-site single family units & 15.98 acres for attached condo/multi family units
$1,327,775.88
$689,863
MI
Wixom
All properties securing these relationships
$413,917.80
$2,588,590
MI
Wixom
2.56 vacant land for proposed 31,517 SF retail/office bldg. & .54 vacant outlot for retail/office bldg.
$1,553,154.06
$2,600,000
MI
Wixom
24,558 retail/office bldg. on 2.16 acres
$1,560,000.00
$379,659
MI
Wixom
All properties securing these relationships
$227,795.50
$190,000
MI
Wixom
Steel materials
$114,000.00
$47,356,460
Total
$28,413,876.24


PACKAGE # 5-24 – STATUS – available 5/13/09
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 65to 80% 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 # 5-25 – STATUS – available 5/13/09
NON-and Performing Notes for Sale

1) SFR, GA, Performing, Unpaid balance 113K Make offer!
2) SFR, GA, Non-Performing, Unpaid balance 106K Make offer!
3) SFR, TX, Non-Performing, Unpaid balance 93K Make offer!
4) Business, CA, Non-Performing, Unpaid balance 150K Make offer!
5) Vacant Land, UT, Performing, Unpaid balance 514K Make offer!
6) SFR, TX, Non-Performing, Unpaid balance 79K Make offer!

PACKAGE # 5-26 – STATUS – available 5/13/09
Performing Notes for sale Arkansas
Hospital Performing
Payers credit over 700
Remaining Balance $107,000
Make offer

PACKAGE # 5-27 – STATUS – available 5/13/09
Performing Notes for sale Washington DC
$7.8M Owners valuation
83,411 Square Feet
south of Class B Washington DC Suburban Office Property – 83,411 SF
Bank is willing to take 20% off, we are direct to bank
Property is 100% occupied
ACTUAL TTM NOI of $744,530 (9.5% DY to Last Dollar)