What is the Profile of a Typical Assignment of Mortgage Payment Seller?

• Has a difficult to sell home – due to the home having little, no, or negative equity, or simply a home that is hard to sell size, location, market, etc.

• Needs to sell more quickly than is typical using conventional list and wait method

• Bought or built a new home with a $0/down (or minimal down) mortgage in an area that has not appreciated

• Refinanced an existing home, borrowing most of the equity, in an area that has not appreciated

• Bought a home in an area that has seen significant price reductions

• Has suffered a divorce, lost job, medical problems, or other financial hardship including any combination of an increase in expenses and/or decrease in income

• Has a non-owner occupied investment property that is no longer performing to generate positive cash flow

• Has an Adjustable Rate Mortgage (ARM) in which the payments have increased to an unaffordable level

• Has had an increase in payment due to an escrow shortage adjusted after tax increases, or an under-funded escrow from the purchase of a new home