FAQs
Here are some answers to questions that you might have about us. Can't find what you're looking for? Feel free to contact us anytime at (352) 414-5293.
| Q: |
What type of services does Resolute Asset Management offer? |
| A: |
We offer REO Management Services to real estate and finance professionals who are looking to turn bank-owned property into income. View a comprehensive list of our services. |
| Q: |
What is the long term financial impact of a foreclosed property? |
| A: |
Lenders and investors do not make money on foreclosures. Losses range from 20 cents to 60 cents on the dollar. Lenders typically lose $50,000 or more on one foreclosure.
– Craig Focardi, CMB, Research Director, TowerGroup’s consumer lending division, cited by Dona Dezube, “Heroic Homeownership,” Mortgage Banking, (June 2006) p. 82. |
| Q: |
What is the effect to the local government? |
| A: |
Homes in foreclosure that become vacant provide sites for crime or other neighborhood problems. One foreclosure can impose up to $34,000 in direct costs on local government agencies, including inspections, court actions, police and fire department efforts, potential demolition, unpaid water and sewage, and trash removal.
– William C. Apgar, Mark Duda, and Rochelle Nawrocki Gorey, “The Municipal Cost of Foreclosures: A Chicago Case Study,” February 27, 2005, p. 2. |
| Q: |
How can a foreclosure affect home owners? |
| A: |
One foreclosure can result in as much as an additional $220,000 in reduced property value and home equity for nearby homes.
– William C. Apgar and Mark Duda, “Collateral Damage: The Municipal Impact of Today’s Mortgage Foreclosure Boom,” May 11, 2005, p. 4. |
| Q: |
How has Florida been impacted by the current market crisis? |
| A: |
Florida posted the second highest number of fillings and the third highest rate of foreclosures nationwide between January 2009 and June 2009.
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| Q: |
How important is the internet to home buying? |
| A: |
Recent statistics estimate that over 80% of home buyers start their search online (which means that they look at the pictures and specs of the house). If the house is trashed and shows damage then they won’t even take a second glance. |
| Q: |
How important is a well maintained property? |
| A: |
Consumers value a landscaped home up to 11.3% higher than its base price, according to a Clemson University and University of Michigan study. |
