Rick Wannemacher
Delphos, OH (USA)
Role(s):
Founder/Owner/Principal
Savemyhome
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Startup
Location:
Delphos
Industry:
Finance
Year Founded:
2009
Number Employees:
1-10 people
Description:
I am seeking investors to help the many people who have been caught up in the current economic times. The plan is to qualify these people, purchase their mortgage from their bank at a reduced price, pay-off their credit cards and any additional loans or liens and finance the new amount at 7.5% interest for one year, (thus allowing them to rebuild their credit score) then have them secure bank financing and pay the balance of the loan off.
They benefit by the reduced amount owed, the investors make approximately 20% ROI and the banks benefit by not having to foreclose on the property. With the falling values of the housing market, this allows banks to unload the properties at the approximate value they will get out of the house in a foreclosure and not have the additional expences of the house being vacant, Realtor fees and Court costs.
The entire process is very detailed, but also very do-able. The full details will only be divulged to serious investors. (Investment amounts of $1,000,000 or higher.)