1 / 18

BANK REO’s

Triage: Intake Capability. BANK REO’s. HUD. GSE’s. TAX FORECLOSED. DEED IN LIEU. PROPERTY TRIAGE. RESPONSIBLE FOR MOTHBALL REHABILITATION. DEMOLISH. PROGRAMS: • SIDE YARD • INFILL HOUSING • GREEN SPACE • URBAN GARDENS. HOLD FOR STRATEGIC ASSEMBLY & ECONOMIC DEVELOPMENT.

carver
Download Presentation

BANK REO’s

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Triage: Intake Capability BANK REO’s HUD GSE’s TAX FORECLOSED DEED IN LIEU PROPERTY TRIAGE RESPONSIBLE FOR MOTHBALL REHABILITATION DEMOLISH PROGRAMS: • SIDE YARD• INFILL HOUSING• GREEN SPACE• URBAN GARDENS HOLD FOR STRATEGIC ASSEMBLY & ECONOMIC DEVELOPMENT RESALE TO RESPONSIBLE QUALIFIED BUYER/REHABBER

  2. Property Preservation • Evaluate • Report • Secure $1.6 mil. (1,297 In inventory)

  3. Property Preservation (Winterization & Change Locks)

  4. Level 2: Property Inspection Report

  5. How are Properties Disposed? • Deed-in-Escrow • Pro: Maximize production • Con: Property off tax duplicate during 4 month renovation • Con: Risk buyer will not complete renovation • In-House Rehabilitation • Pro: Highest quality of work • Con: Most expensive • Con: Limited capacity • Con: Poor housing market, low returns • Non- Profit Organizations (CDCs, Others) • Pro: trustworthy • Con: ROI?

  6. Non Profit - Collaborations • Community Development Organizations (CDCs) • International Service Center • Reentry: Workforce Development • Court Community Service • Sober and Transitional Housing • Faith Based Organizations

  7. Community Development Corporations • Development Agreements (Pass Through) • Straight Agreements • Tax Foreclosure Prioritization • Side-Yard Management and Urban Gardens CDCs Collaborations of the CCLRC

  8. International Services CenterRefugees • Refugee Services Partner • Funding and Screening of Qualified Refugees • Home Services, Counseling, Work Referral Services • CCLRC Partnership • Supply Inventory of Houses for Rehab • Restore Properties for Sale to Agency • Outcomes • Completed Homes and Increased Property Values • Transitional Housing • Home Ownership at Affordable Prices • Repopulation of Urban Neighborhoods

  9. Fatherhood Initiative

  10. Fatherhood Initiative • Workforce Development Partner • Funding for Screening Workforce Candidate • Funding for Client Wages and Classroom Training • Supervise Client’s Rehab Work • CCLRC Partnership • Supply Inventory of Homes for Rehab • Lower Cost Home Rehab for Resale • Outcomes • Completed Homes and Increased Property Values • Home Ownership at Affordable Prices • Training for Formerly Unemployed/Incarcerated Citizens

  11. Court Community Service

  12. Court Community Services • Court Partner • Work with Probation Departments for Community Service Eligible Offenders • Supervision of Offenders • CCLRC Partnership • Supply Local Vacant Lots for Clean-Up • Provide Low-Cost Funding for Supervisors • Outcomes • Clearing of Vacant Lots • Provides Alternative to Costly Incarceration and Prison Over-Population

  13. Renovation Production • Straight Sales ………………………………………..41 • Deed in Escrows…………………………………….442 • CDCs…………………………………………………186 • NSP2s…………………………………………………53 TOTAL 722

  14. Deed in Escrow 27771 Lakeshore Blvd

  15. In House Renovation 16

  16. In House Renovation – NSP Garage Exterior Kitchen 13706 Thornhurst Ave, Garfield Heights

  17. Thank you!Questions?

More Related