Structured Settlement Sale Prevents Home Foreclosure in Florida, According to J.G. Wentworth

BRYN MAWR, Pa. (PRWEB) September 24, 2008

Commenting on the increase, Randy Parker director of quality assurance for J.G. Wentworth, noted that among the higher volume of transactions are a larger number of cases where the seller is trying to overcome some form of financial distress which was not contemplated at the time they settled their lawsuit including the possible loss of their home through foreclosure.

According to Mr. Parker, “Our client Janine D. living in Sarasota offers a typical example of some of the financial distress we are now seeing. Sudden and persistent illness undermined Janine’s ability to maintain her income. She had few other assets other than her settlement payments, but these were inadequate for the circumstances she found herself in.”

Janine D. said, “I have been unable to work due to an illness for the past 21 months and the bills were piling up. I had nowhere to turn to and could not find a job due to the constant in-and-out hospital visits.”

Through J.G. Wentworth, Janine D. was able to sell a portion of her regular monthly payments for 4 years in exchange for $ 16,000 in cash.

“J.G. Wentworth was fantastic about getting me money from my annuity to bring me out of the financial hole and keep our home from being taken away,” she said. “You helped keep the roof over my child’s head. I am forever grateful. Thank you.”

Parker noted that not all clients are facing some form of financial distress. “Many clients simply find it more convenient to get all of their money at one time, rather than waiting several years.”

About the J.G. Wentworth family of companies

J.G. Wentworth, Inc., based in Bryn Mawr, PA, is the nation’s oldest, largest and most respected buyer of deferred payments for illiquid financial assets like structured settlements, annuities and, through dedicated subsidiaries, life insurance policies. Since 1992, J.G. Wentworth has purchased over $ 3 billion of future payment obligations from consumers and is also the nation’s largest securitizer of structured settlement and annuity backed notes. The company’s notes are rated AAA by Standard & Poor’s Corporation.

For more information about J.G. Wentworth, go to

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DebtMarket Launches as First Automated Portfolio Marketplace; Will Expedite Pricing, Purchase and Sale of Consumer Debt

Danville, Calif. and Los Angeles (PRWEB) August 17, 2009

In an effort to answer the vexing question of how financial institutions can price troubled assets, DebtMarket ( launches today as the world’s first automated marketplace that connects buyers and sellers of loan portfolios.

DebtMarket enables an estimated 60,000 loan originators (primarily banks, credit unions and finance companies) and portfolio owners (primarily institutions, hedge funds and private equity investors) to list loans from the major consumer loan asset classes, including automobiles, mortgages and student loans. In the months ahead, the company also will support credit card portfolios and other asset classes. DebtMarket accepts loan portfolios of any size, credit quality and loan performance.

DebtMarket enters a market that is measured in the trillions of dollars. Total U.S. revolving and non-revolving consumer debt, including mortgages, was more than $ 14 trillion at the end of 2008, according to the Federal Reserve. DebtMarket also has the potential to play a role in helping both the federal government and the lending industry price hundreds of billions of dollars in troubled assets. Clearer market pricing results in greater market liquidity and efficiency.

The company also announced it has tapped Intel’s former research director as CTO and enlisted several top consumer finance leaders for its advisory board [see the news release, “DebtMarket Attracts Leaders in Technology, Financial Services”].

“DebtMarket is a solution to the credit crisis, applying game-changing technology to provide a transparent, efficient, standardized platform that financial institutions and institutional investors anywhere can use to price, purchase and sell debt,” said DebtMarket Founder and Chairman Scott Walchek. “DebtMarket transforms the existing secondary debt market – much as eBay transformed the auction marketplace – by making it easy for institutions and institutional investors of all types and sizes to participate.”

A serial entrepreneur who has created, led and/or funded an impressive roster of highly successful start-up companies, Walchek has been an innovator in educational video games, a pioneer in Internet shopping cart technology, and was among the first to see the search technology opportunities in China with Baidu. “Technology is the gateway to transparency, and transparency is the tonic that has the power to re-ignite the economy,” Walchek said. “The world’s first automated portfolio marketplace, DebtMarket is the antidote to traditional opaque loan sale methodologies that talk about transparency but fail to deliver. We see DebtMarket as an ideal tool for regulators seeking to expedite the clean-up of toxic bank assets, especially for those small- to mid-size institutions that previously have lacked a marketplace for their loans.”

DebtMarket enables participants to establish and negotiate pricing, perform due diligence and complete all the paperwork needed to close the transaction. The end-to-end transaction technology eliminates inefficiencies, reduces costs, and invites participation from buyers and sellers regardless of size, geography or other previous barriers to entry. DebtMarket technology delivers transparency through a series of essential elements: an auction-style marketplace for competitive pricing; loan-level detail; direct contact between buyer and seller; a visible next-step process in the transaction; and a published fee structure.

“DebtMarket has the potential to transform the way institutions and institutional investors buy and sell consumer debt,” said Mike Sheridan, Co-founder and President of DebtMarket. “DebtMarket acts as a market stabilizer by providing access to buyers and sellers beyond companies’ traditional reach. This helps address the ‘price discovery’ problem that historically has discouraged so many small- and medium-size institutions and new investors from participating. DebtMarket’s disruptive technology pushes the envelope by handing control to buyers and sellers, which results in greater transparency.”

Industry observers suggest that DebtMarket will initially attract buyers and sellers of distressed debt, but that demand for a full-spectrum, technology-enabled solution is likely to extend to the market as a whole.

“The market today is distressed, with assets being sold at a discount — and that’s where an online marketplace like DebtMarket will generate its early successes,” said Jim Jones, former CEO of Residential Capital, Inc. (ResCap), the real estate finance arm of GMAC, and one-time head of consumer credit at both Bank of America and Wells Fargo. Historically, securitization has provided debt originators and portfolio investors with the information they required to make a buy/sell decision. “The difference today is there is no securitization taking place,” Jones said. “The DebtMarket platform assimilates the same type of information buyers and sellers need and provides it via a transparent medium. The result is that buyers and sellers can be more confident that their bid will be evaluated on an equal footing with others. That’s what transparency is all about.”

Walchek and Sheridan began testing the DebtMarket model in July 2008, when they launched a beta to address a single asset class – auto loans. Since then, GDNAuto has transformed the way auto dealerships and financial institutions trade as much as $ 30 billion a year in subprime auto debt. The platform’s success within the auto finance realm has led to a number of significant partnerships between the newly dubbed DebtMarket and auto finance institutions and affiliated service companies.

That continues today with the announcement of a definitive agreement with Frazer Computing, Inc., a Canton, N.Y.-based provider of dealer management software, to incorporate certain features of the DebtMarket platform into its dealership offerings. Frazer is one of the industry’s largest DMS providers, with 4,700 active users, most of which are independent dealers [see the news release, “DebtMarket Signs Partnership Agreement with Frazer Computing”]. DebtMarket said it intends to pursue similar relationships across the broad consumer credit landscape.

About DebtMarket

DebtMarket ( is the world’s first automated marketplace that connects buyers and sellers of loan portfolios. The innovative DebtMarket technology platform delivers price transparency, process automation and direct buyer/seller communication in a secure online environment.


More Securitization Press Releases

MBA Commercial Offers Short Sale Solutions for Distressed Commercial Properties to Avoid Foreclosure

San Diego, CA (PRWEB) August 11, 2010

MBA Commercial, one of San Diegos premiere commercial real estate brokers, has cash buyers available to relieve commercial real estate owners of unserviceable debt. Owners can save their credit by participating in a short sale versus a foreclosure. Lenders net approximately 15-20% more through a short sale than a foreclosure, providing them with incentive to satisfy a larger portion of debt.

According to MBA Commercial CEO Brian Yui, MBA Commercials access to ready buyers and ability to quickly and efficiently complete short sales on behalf of distressed property owners can significantly reduce damage to credit.

As MBA Commercial, Inc. predicted in late 2009, the wave of commercial foreclosures in San Diego is increasing. Researcher Real Capital Analytics Inc. reported that at the end of March 2010, San Diego County had 120 commercial loans in delinquent or default status, with a total value of $ 1.8 billion. According to Bloomberg L.P., in the first quarter of the year, 24.9% of San Diegos commercial mortgage backed securities loans were on watch lists as lenders anticipated near-term delinquencies. In response to this growing need, MBA Commercial has established a short sale unit comprising experienced negotiators and closers dedicated to assisting commercial property holders dispose of their non-performing assets.

The model is similar to residential short sales: For commercial owners carrying debt higher than the current value of their properties, MBA Commercial can provide a cash buyer for fair market value. MBA then negotiates with the lender to release the owners note for the value of the sale, even though the owner owes more than the property is worth. The owner of the building avoids foreclosure and the bank avoids the legal fees and carrying cost associated with a foreclosure. The lender ultimately nets more money and avoids the risk of taking title to the property.

In addition to short sales, MBA Commercial specializes in short payoffs. The company has bridge financing lenders who are able to loan the majority of loan payoff amounts. Bridge financing costs are generally two to five points with interest rates ranging from 12-15% depending upon securitization and assumption of risk. Much like choosing a short sale over foreclosure, short payoffs can save a commercial property owners credit as well reducing or eliminating personal guarantees.

MBA Commercial has long anticipated the downturn in San Diegos commercial property market and is now poised to assist owners in debt while generating profits for investors. Says Yui, These individuals become free of the debt they can no longer service and the properties are restored to profitability, benefiting the local economy. Its a win-win, something we dont often see in the current market.

MBA Commercial, Inc. is a leader in San Diego commercial real estate. MBA Commercial offers a turn-key solution for property management, leasing, sales and financing. Its new Short Sale Division provides bridge loans as well as short sale opportunities for commercial property owners. For further information, please call 888-248-6222.


New Stage of Sale iPad Stands for the iPad Mini

Simi Valley, CA (PRWEB) February 19, 2013

The iPad mini is speedily expanding in use among point of sale iPad deployment. Several POS software companies are utilizing the iPad mini as a lower priced option. Business’s that are employing the iPad mini are finding the seven.nine” display is simple to see and the weight tends to make it a great option for transactions and purchasing whilst standing. Some company uncover the smaller type factor functions far better at their sign-up locations. Trevor Orrick of Solve-It! Store says “Due to overpowering customer request we have up-to-date our Pad Grip product line to contain iPad mini compatibility”. Remedy-It! Keep manufactures a total line of point of sale iPad stands and mounts. The Pad Grip for iPad mini is offered in numerous options: Magnetic, Professional, Artisan and Govt. All of which are strong affordable remedies that will compliment your business’s esthetics while supplying a business high quality stand or mount. “We recognized early on that business’s necessary an iPad holder that would keep up more than time with everyday use as element of an stage of sale program. The Pad Grip item line was designed to meet the problem” says Trevor Orrick.


The Pad Grip Magnetic is excellent for attaching to income drawers or other metal surfaces.

Brookstone Legislation, PCs Crisis Extension Section Discovers Concealed House Sale Day, Earns Distinctive Federal TRO for Neighborhood Seniors

Newport Seashore, CA (Vocus/PRWEB) March 31, 2011

Many thanks to Brookstone Legislation, PCs Emergency Extension Department (EED), a new useful resource to support home owners experiencing foreclosure preserve their residences, two regional seniors have kept their home despite their Banks makes an attempt to disguise the sale day from them, it was declared today by Vito Torchia, Jr., managing legal professional of Brookstone Regulation, Laptop.


According to court paperwork, Bob and Angela Sacchi, a married couple in their 80s living on a fastened pension earnings and savings in West Hollywood, CA, were experiencing foreclosures, the sale of their home and eventual eviction based on a predatory house mortgage they received in 2004 and the banking companies refusal to enable them to modify their mortgage in spite of quite a few tries to fix their problems more than the previous a number of years. The case is Sacchi, vs. MERS et al., Situation No. CV 11-01658 pending in the United States District Courtroom – Central District of California.


Following to begin with halting the sale of their residence the working day ahead of it was scheduled to be bought, Brookstone Law ongoing to symbolize the pair. Unbeknownst to either the Sacchis or Brookstone Legislation, a new sale day was scheduled by the Bank. Only through Brookstone Laws focus to depth and regular comply with up did the EED group find out the Lender experienced scheduled a new sale day.


When our EED team aids obtain a postponement, we often seem for the chance to pursue additional steps to lengthen postponements or attain cancellations, said Aalok Sikand, one of the lead attorneys on the EED group. We discovered by means of our tough operate and analysis that the Bank had established a new sale day and have been not surprised to find out they experienced not communicated that to the Sacchis.


Brookstone immediately geared up and filed an ex parte movement for a temporary restraining order and for an order environment a listening to day for a preliminary injunction towards certain of the foreclosing defendants. According to courtroom files, the motion was based on alleged violations of California foreclosures statutes and on a securitization audit and accompanying affidavit calling into concern the authority of the foreclosing party to in fact foreclose. The Court issued the temporary restraining purchase, restraining all defendants from foreclosing on the Sacchis residence pending a listening to on the preliminary injunction. The Court docket will set a briefing plan.


Many thanks to Brookstone Laws EED we have a feeling of security about our future, said Mr. Sacchi, a member of the Screen Actors Guild and American Federation of Radio and Television Artists who starred in the movie “The Male Who Stole Bogart’s Experience” and has appeared in quite a few well-liked tv collection including “Kojak” and “Fantasy Island.” Brookstone Legislation mentioned they would battle for us in court docket and they did just that.


Like several property owners, the pair had heard tales about how home owners dealing with foreclosure are treated by banks and how a lot of banking institutions do not permit brief product sales to handle foreclosures. Media reports have highlighted banks mishandling of mortgage foreclosures and mistreating customers, procedures which have led to legal action during the place like fits filed by far more than forty condition lawyers standard in opposition to banks and loan providers. Media protection has shown banks throwing peoples belongings into the road in wrongful evictions, overcharging countless numbers of customers of the army on their mortgages and bank executives admitting to blatant misadministration of mortgage files in wrongful foreclosures trials.


Dealing with quick foreclosures, without possibility for a mortgage modification, residing on a mounted low revenue and with nowhere to go if their property was marketed, there seemed to be no way for the few to cease their first foreclosures until they contacted the EED experts at Brookstone Legislation. EEDs group of legal authorities and specialists acted decisively and fought for the few in court by filing a lawsuit that resulted in a postponement of the initial sale day.


This is one more example of how we will not end operating until we accomplish the final results our clientele need to have, mentioned Nisha S., a seasoned EED professional. With no focused attorneys and professionals operating on their behalf, the Sacchis would not have known about the difficult predicament the financial institution put them in ahead of it was way too late for them to act to conserve their residence.


At a time when thousands and thousands of Americans are dropping their homes as element of the foreclosures disaster, property owners encounter a overwhelming challenge when working with banking companies. To deal with people challenges, many home owners have turned to the EED help them keep their residences. Developed by Brookstone Law to aid customers deal right with an institutional forms that is biased against them, the EED is a unique provider not presented by any other organization that provides home owners experiencing foreclosures a fighting opportunity to hold their homes. Brookstone Regulations EED attorneys and professionals are skilled in functioning straight with banks and thoroughly skilled to support home owners accomplish postponements.


Brookstone Legal guidelines lawful group researches all obtainable options to help homeowners extend their sale day although they are in the procedure of litigation, bankruptcy or brief sale. Expenses are contingent on achievement of the provider, which signifies consumers spend only if the sale can be postponed or stopped. House owners experiencing foreclosures like the Sacchis are making use of the EED to help keep their residences. The method typically normally takes several hours for every shopper and a lot of situations require as significantly as a complete day to get final results since a majority of EED exercise is invested by the Firms legal professionals and authorities in foreclosure regulation and litigation working immediately and negotiating with banks and creditors.


“We will not hesitate to go to courtroom if necessary to get the final results we want, which is where our group of authorized authorities and attorneys is of biggest worth to house owners looking for reduction, explained Vito Torchia, Jr. Our EED authorized crew and specialists are to be commended once once again for undertaking such fantastic work on behalf of a deserving couple.


About Brookstone Regulation, Pc &#13

Headquartered in Newport Seaside, Calif., and with offices in Los Angeles, Calif., and Ft. Lauderdale, Fla., Brookstone Regulation, Personal computer is a legislation organization comprised of lawyers with knowledge and good results in enterprise, corporate and private finance, work, leisure and media, art and museum, intellectual house and true estate regulation. The agency has a community of a lot more than 40 affiliate attorneys nationwide and employs hugely educated experts, paralegals, paraprofessionals and administrative workers dedicated to serving customers. For data, call (800) 946-8655 or go to (


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