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Summerlin Asset Management, LLC currently has note investment opportunities ranging from non-performing, sub-performing, re-performing, and performing notes. Yields can vary in range from high single digits to double digits above 20%.
Once you purchase a note from Summerlin we can manage the note for you. We exhaust all possible workout scenarios with the borrower and do our best to help them keep their home, while still ensuring our investors will make a nice return on their note investment. Foreclosure is always our last option.
A foreclosure can be as quick at 6 months in some states, and up to 3 years in others. Summerlin tries to understand each state before purchasing notes for investors. Understanding each state’s foreclosure laws gives us the ability to determine the best buy price for each note. A perfect comparison would be California and New York. In California the price of mortgage notes tends to be high. This is because California is a Non Judicial State. Foreclosures can be completed quickly here. New York however is a Judicial State and the lender must sue the Borrower(s) to enforce their rights under the Mortgage and Note. This process can be very lengthy but not impossible as some believe. Summerlin has been successful in foreclosing in both states.
Call Summerlin today to find out what notes are currently for sale. Contact our corporate office in Arizona at (928) 854-7747 or our Irvine, CA office at (949) 225-4414.