REI INK

Why Banks Will Move Quickly to Sell Distressed Debt

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So far, the COVID-19 pandemic hasn’t spawned the waves of property distress that were initially predicted.  However, once lenders can pursue remedies, Andrew Van Tuyle, senior managing director of investments for BH Properties, expects the floodgates to open for loan sales in judicial foreclosure states and situations where bankruptcy appears imminent. Speaking to an audience of the American Bankruptcy Institute, Van Tuyle, who oversees the Value Add and Bankruptcy divisions

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Offerpad Announces Indianapolis is the Next Market in its Expansion Plan

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Leading iBuyer and real estate solutions provider expects to buy and sell homes in nearly 1,000 cities and towns Offerpad, a leader in modern home buying and selling solutions, continues business development and market expansion with the announcement of a new major market launch into Indianapolis, Indiana. The Arizona-based company will bring its Real Estate Solutions Center to homeowners and sellers in the Midwest beginning this summer. Offerpad’s first pitch to homeowners

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PROPERTY TAXES LEVIED ON SINGLE FAMILY HOMES UP 5.4 PERCENT IN 2020, TO MORE THAN $323 BILLION

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Average Property Tax of $3,719 Up 4 Percent Effective Tax Rate at 1.1 Percent Highest Effective Tax Rates Remained in New Jersey, Illinois, Texas, Vermont, Connecticut ATTOM Data Solutions, curator of the nation’s premier property database, released its 2020 property tax analysis for almost 87 million U.S. single family homes, which shows that $323 billion in property taxes were levied on single-family homes in 2020, up 5.4 percent from $306.4

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Finance Agency Plan to Further Forestall Home Foreclosures Fails to Recognize Economic Realities

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Distressed asset auctioneer Richard Kruse of Gryphon USA said plans by the Consumer Finance Protection Bureau to delay foreclosures another nine months and create more regulations only builds pressure on consumers and the nation’s housing market. The CFPB this week announced proposed rules meant to encourage lenders and loan servicers to continue working with consumers to avoid foreclosure, pushing potential filings out to January 2022. “Trust me. I understand the

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Finance of America Companies to Become Publicly Traded Following Completed Transaction with Replay Acquisition Corp.

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Finance of America Equity Capital LLC (“Finance of America” or the “Company”), an end-to-end lending and services platform, and Replay Acquisition Corp. (NYSE: RPLA) (“Replay Acquisition”), a publicly traded special purpose acquisition company, announced the completion of their previously announced transaction to take Finance of America public. The combined company is named Finance of America Companies Inc., and its common stock and warrants will begin trading Monday, April 5, on

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Home Flipping Sales and Profit Margins Both Decline Across U.S. in 2020

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Number of Homes Flipped by Investors Decreases for First Time Since 2014 ATTOM Data Solutions, curator of the nation’s premier property database, released its year-end 2020 U.S. Home Flipping Report, which shows that 241,630 single family homes and condos in the United States were flipped in 2020, down 13.1 percent from 2019 to the lowest point since 2016. The number of homes flipped in 2020 represented 5.9 percent of all

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