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E-mailUtah-based financial company offers over 300 notes for sale to the public at deeply discounted prices
In the past, SilverLeaf has worked with several larger accredited investors whose minimum required investment was $500,000. Now that SilverLeaf has acquired these 321 single-family mortgages, the “Average Joe” can participate in the game with a very nominal monetary investment. SilverLeaf will continue to focus on buying performing and non-performing notes from the FDIC and other financial institutions. The underlying collateral is usually income-producing commercial properties located in the West and Midwest. To date they have acquired more than $150 million in face value notes, and have “worked out” 65% of them.
This opportunity is ideal for individual investors that are looking for a smaller investment. They will be sold for around 20 to 30 cents on the dollar - quite an attractive price for such an investment. SilverLeaf sees these mortgage notes selling quickly. When asked why SilverLeaf was selling them, Shane Baldwin, the company’s CEO/Founder, said, “It would be too time-intensive for us to do 321 separate work outs on all these notes. Each one takes time, and would have to be dealt with individually. We are selling them or ‘re-trading’ them to create some liquidity on our side.”
The question many people may ask is what does one do with the note(s) once they have purchased them? There are multiple options. The buyer can service the note (act as the bank and collect monthly payments) or work with the borrower to modify the loan amount, and in turn refinance the loan with another lending institution, i.e. Bank, or Mortgage Lender, or the buyer can foreclose on the property and sell it.
Each individual owner of these properties is in a different situation. Trevor Linton, SilverLeaf’s Director of Acquisitions, says, “The wisest thing to do would be to see what the outstanding balance is, how much the property is worth, the location, the condition of property, and discover why the owners are behind in their payments, and then make the appropriate decision on how to handle that note.”
Those interested in learning more about these notes for sale, contact The V.P. of Business Development, Colby Bond, at (office: 801-359-2855) or (cell: 801-657-1678). He has access to all available information on each one of the notes. He can also be reached at Colby@silverleafcompanies.com.
About SilverLeaf
Headquartered in Salt Lake City, Utah, SilverLeaf Financial is a private equity firm that focuses on purchasing pools of performing and non-performing 1st deed of trust loan pools from the FDIC for the purpose of prompt monetization. For more information, visit the SilverLeaf Financial web site: http://www.SilverLeaf-Financial.com.
Other press releases from SilverLeaf Companies
- SilverLeaf Financial Acquires 10.2 Million in Commercial Loans in Ohio - November 17th, 2009
- SilverLeaf Financial Acquires $30 Million in Commercial Paper in the Month of September - October 13th, 2009
- SilverLeaf Financial Acquires Loans in Jacksonville, FL and Farmington, UT - September 23rd, 2009
- SilverLeaf Financial Acquires More Commercial Assets in Massachusetts and California - August 31st, 2009
- SilverLeaf Seminars Is Giving Away a House - August 28th, 2009
- SilverLeaf Financial Discusses Their Purchase of 321 Single-Family Residential Mortgages - July 22nd, 2009
- SilverLeaf Financial Acquires 321 Single-Family Mortgages from Loans Originated by GMAC - July 13th, 2009
- SilverLeaf Financial Seeks to Raise Additional 100 Million in Investment Funds - May 27th, 2009
- SilverLeaf Financial to Be a Panel Participant in the IMN Forum in New York City - May 14th, 2009
- With the Slow Real Estate Market, Why Are More Agents Joining SilverLeaf Realty? - May 14th, 2009
Contact Information
Campbell DoschTitle: VP of Public Relations
SilverLeaf Companies
Salt Lake City, UT
Phone: (801) 413-4702
Email: Campbell@silverleafcompanies.com
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