Edward Krug
Sonoma, CA (USA)
Role(s):
Founder/Owner/Principal
Templar Advisors, Inc.
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Startup
Location:
Sonoma
Industry:
Finance
Year Founded:
2008
Number Employees:
1-10 people
Description:
Templar Advisors, Inc. is a legislated lender (“trust deed”) service providerwith emphasis on collection of secured debts, called non-performing notes (NPNs). In today’s economy many property owners cannot afford their residential and/or commercial mortgage payments. With real estate sales down and prices depressed, those owners cannot easily pay-off their secure debt by refinancing or selling their property. It is very problamatical to rely on market increases or even stability when values continue to slide. This is a national financial crisis, where the glut of NPNs need resolution now. Some will require foreclosure, others a financial settlement between borrower and lender. As trustee, Templar Advisors, is designed as statutory intermediary for that process in California
Unable to collect debt in the normal course of business, lenders may maintain a shadow inventory of NPNs in default, or retain a trustee to negotiate a settlement of, or foreclose on, the debt to receive payment from a forced sale. However, lenders prefer settlement. It’s faster, cheaper, clear, and final. If the property is not sold at auction, it reverts back to the lender as an REO (Real Estate Owned). Lenders, whether institutional or private investors, with REOs will have carrying costs which they might not be able to recover. So, a trustee’s skill, coupled with it’s statutory powers, places Templar Advisors in a prime position to plan a viable exit strategy acceptable lenders, and often acceptable to boorrowers as well. Fortunately, many foreclosures end with a settlement and/or cure of the debt. These past few years have made the process more onerous.
In short, every State has a foreclosure process mandated by either court action, the judicial sale, or statutory action non-judicial sale, called the trustee sale. Templar Advisors handles the latter as a trustee. Trustee foreclosure sales constitute well over 90% of all forced collections on real estate. Trustees act as advisors to Banks and other lenders, and provide borrowers with information as well as consulting, negotiating, or exercising the power of sale. To conclude financial issues, the majority defaults are successfully resolved prior to public auction.
Investor/lenders from all over the world can use Templar Advisors as trustee for residential and commercial real estate located in California, and some Western States. In the past a vast number of investors have had good reason to invest in what was perceived as very stable and secure U.S. real estate market. Today out-of-state and foreign investors, lenders, and banks need trustees for provide accurate advice, services, and collection to protect lender mortgages. Templar Advisors are able to meet those needs because of the depth of their knowledge, experience, and business associations.
To legally be a trustee in California familiarity with real estate laws are mandatory. Law defines the qualifications, foreclosure process, fees, powers, and liability of the trustee (see §2900 et seq. of the Civil Code and §17000 et seq. of the Financial Code). Templar Advisors corporate officers are well qualifie under these provision.
One example of market demand is Carlton Advisory Services, Inc. It has over $28 million of non-performing Notes (NPNs) just in California that will likely require the trustee sale process. There is no question that a vast market exists and will continue for a lengthy period.
As mentioned, a trustee’s foreclosure fees are clearly proscribed by law, other lender services are available for a fee without conflict of interest. The civil code largely restricts liability of the trustee with protection from spurious and marginal claims. This Business Plan explains how Templar will proceed, and projects an extremely modest projection table in its Proforma. Funds for some of the most expensive start-up costs will greatly help capture Templar’s share of the potential proceeds from this nationwide service.
Founder/Owner/Principal
Templar Advisors, Inc.
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Service Provider
Location:
Sonoma
Description:
Templar Advisors, Inc. is a legislated lender (“trust deed”) service providerwith emphasis on collection of secured debts, called non-performing notes (NPNs). In today’s economy many property owners cannot afford their residential and/or commercial mortgage payments. With real estate sales down and prices depressed, those owners cannot easily pay-off their secure debt by refinancing or selling their property. It is very problamatical to rely on market increases or even stability when values continue to slide. This is a national financial crisis, where the glut of NPNs need resolution now.
Services Provided:
- Legal
- Real Estate