AHP: The Distressed Match Maker

Published on August 28th, 2014 by AHP Administrator

A Wisconsin property sold by AHP this month

Sometimes, it seems like you will just never find the one for you. You’ve scoured the paper, scanned the internet and paged through Craigslist. Everyone around you seems full of bliss and joy, but you’re stuck, alone in your search. Maybe you prefer the ones that are on the rebound. If so, AHP is waiting to play match maker for you.

This month, AHP’s asset managers have had tremendous success in selling AHP’s stockpile of vacant properties. Keeping borrowers in their homes is priority number one at AHP, but we also acquire properties that have been vacated as they were abandoned by borrowers. In some cases, the properties have been neglected for quite some time. It is important to turn these homes around as quickly as possible due to the negative impacts long-term vacancies have on neighborhoods.

Prospective buyers can browse AHP’s website and sort through available properties by location and price range. Currently, our offerings range from Alaska to Florida and from vacant lots costing under $500 to houses for over $100,000. Thus far, AHP has sold vacant properties this month in Florida, Georgia, Maryland, Missouri, New Jersey, North Carolina, Ohio, Pennsylvania and Wisconsin. These buyers may be families in search of a new home, real estate developers looking to “fix and flip” the property or prospective landlords who will rent the property to tenants.

No matter whom the buyer is, the important aspect is that somebody will be taking care of the property. In some instances, squatters take over vacant properties and become problematic for the neighborhood. This was this case in one of the properties AHP sold this month as one of the neighbors contacted AHP and told the asset manager that squatters were living in the property and there was suspicious activity taking place inside. The squatters turned out to be supposed tenants of the home’s previous owner who had failed to make payments. A notice was given that all inhabitants of the property were to be evicted and no further problems were reported leading up to the recent sale of the property.

Situations like these can be commonplace in areas hard hit by the foreclosure crisis. In AHP’s backyard here in Chicago, the Englewood neighborhood was devastated by the foreclosure crisis and violent, tragic crimes have been committed in the vacant properties. With our hardworking team and socially conscious investors, AHP is proud to be making a difference with each property sold.

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