Washington Discusses HEFI

HEFI received well by Washington. Nevada first to discuss using HEFI for new government program more.....

US housing market hit by ‘walkaways’

 By Aline van Duyn Published: February 22 2010 22:13 | Last updated: February 22 2010 22:13

“Negative equity is a big challenge. It contributes to higher delinquency and redefault rates,” Seth Wheeler, senior adviser at the US Treasury, told a conference this month. “We will continue to study the reduction of principal where appropriate,” he adds, though the form it would take has not yet been determined.

Many mortgage investors and housing experts believe it has to be dealt with. “The housing problems run very deep, but so far policies have just kicked the can down the road,” says Laurie Goodman, analyst at Amherst Securities, a broker that specialises in mortgage investments. “To get an economic recovery you need to fix the housing problem. And to fix the housing problem, you need to fix the negative equity problem.”  ....more

Company Bio

EquiDebt Solutions was formed by a group of seasoned mortgage, capital market, secondary market and legal experts in order to navigate the mortgage crisis that began in late 2006. The current lack of liquidity in the capital markets that would allow for efficient exit strategies for performing and non performing mortgage assets has left Mortgage Note Holders, Portfolio Lenders and those entities holding mortgages in general in a precarious situation. In addition the hangover from the mortgage crisis has left large inventories of REO property. EquiDebt is the first in the nation to offer a new – and patented -- financial vehicle that will change the way loss mitigation is carried out and how liquidity is brought to a purchase transaction.

EquiDebt is on a mission to breathe life into the HEFI and introduce it as the product that replaces 2nd liens and HELOCs going forward. Although our focus today is on how the HEFI can be utilized to help resolve the mess we are facing in the mortgage markets, our ultimate goal is to bring the HEFI into the retail markets so it can be utilized as a purchase (down payment) and refinance (cash out) tool.

 

More On EquiDebt

• Currently holds the only unrestricted license to represent the HEFI
• Controls HEX, LLC (Home Equity Exchange), the platform that issues, services and manages the HEFI instruments
• Is partnered with Neil Thomson, Esq who has 25 years legal experience in corporate and real estate law
• Is licensed by Home Equity Securities, the inventor and author of the patents solidifying the proprietary nature of the HEFI security