Why HomeCars?
DISCOVER THE BENEFITS OF WORKING WITH US
My name is Gathan Anderson, and I always had a knack for sales and helping people. In 2007, with much perseverance and determination, I successfully launched my company Powerhouse Real Estate. Launching my company during this time where homeownership in real estate was easily obtainable, was the perfect position for me to be in as I was ready to excel in the industry, all the time helping many first-time homeowners get a piece of the “American Pie”.
We as brokers sold houses. We had mortgage lenders that completed our clients’ loans with the promise that in two years they could refinance into a 30-year fixed rate. Buying a home was very attractive because to qualify a buyer needed to attain a very reachable credit score of 500 to 550.
We as brokers sold houses. We had mortgage lenders that completed our clients’ loans with the promise that in two years they could refinance into a 30-year fixed rate. Buying a home was very attractive because to qualify a buyer needed to attain a very reachable credit score of 500 to 550.
However, not too long after the launch of Powerhouse Real Estate, the devastation of the housing bubble burst took place, shaking the entire American economy to stagnation. Two years later, I sold 75% of my stake in PowerHouse Real Estate to my business partner. In review, when clients came in and stated their inability to repay their mortgage loan, my first response was "let’s do a net proceeds sheet," and in almost every situation there was an underlined expense such as a car note, furniture bill, appliances etc. Those bills, accompanied by raised mortgage amounts, lead to millions losing their homes.
And even more devastating was the loss of equity in neighborhoods - not affected by bad mortgages, but by a reduced appraisal based on bank foreclosures selling at a reduced price. Out of this whirlwind of dismay, HomeCars was born.
And even more devastating was the loss of equity in neighborhoods - not affected by bad mortgages, but by a reduced appraisal based on bank foreclosures selling at a reduced price. Out of this whirlwind of dismay, HomeCars was born.
What can be done?
How can a mortgageable foreclosure be sold without a price reduction? How do you keep neighboring homes' value unimpacted from a listed foreclosure constant value depreciation? How can the unseen financial needs of a new home buyer be addressed?HomeCars has developed a smart contract system that takes the Reverse Earned Equity (a term we Coined) out of a delinquent foreclosure. These smart contracts The New Car Lien Credit and the New Invoice Lien Credit (both are cash credits). They both allow never before used options in the procurement of properties; they allow financial institutions such as banks, credit unions, and financial institutions to liquidate a mortgageable foreclosure at a zero-price reduction.
HomeCars solutions eliminates the need for BPO’s, asset managers because there is no price reduction of mortgageable foreclosures. HomeCars puts money back in the banks by keeping them in a more financially secured position. Americans will truly feel as if the bank has helped them achieve the American dream: A new home with a new car, vehicle, appliance, etc.