For Immediate Release

Contact: Bert Cox

603-225-8000

Bert@BertCox.com

Foreclosure Lemons to Lemonade

-          NH Investors launch The Value Play Note Fund

While the rising tide of foreclosures is swallowing banks and insurance companies, 3 savvy investors are capitalizing on the wave of opportunity by merging their expertise from banking and real estate.  The Value Play Note Fund just launched for the purpose of purchasing defaulted mortgages and foreclosed properties.  Bert Cox, one of the fund managers says, “The banks are overwhelmed right now trying to manage a national crisis.  The result is thousands of empty or deteriorating houses  and home owners with no place to go.  Our advantage is the ability to work with homeowners and offer more options to avoid foreclosure or to renovate empty homes to make them appealing to buyers”.

The Fund is managed by CLD Asset Management whose principals are Bert Cox, Kevin Lacasse and Richard Dale-Mesaros, all experienced investors in the New England market.  Kevin Lacasse has renovated over a hundred houses or apartments and says, “Buyers are avoiding bank owned property like the plague because they’re in disrepair, utilities are turned off, frequently pipes have frozen and the house may not even qualify for conventional financing.  Adding insult to injury, the banks want one-sided contracts and are uncooperative in providing buyers any reassurance for the biggest investment of their life.  By contrast, our houses have the power on and buyers get a great value, often at significant discounts, and with all the assurances needed to feel excited about their future home.  With all the houses to choose from, it’s no wonder the banks can’t sell property and this is the very reason, we’re able to obtain them at substantial discounts and infuse the resources necessary to make them ready to sell”.

Richard Dale-Mesaros frequently deals with distressed home owners and says, “Another option is to work with home owners to restructure their finances so that they may keep their home.  Home owners are often frustrated with the bureaucracy and long wait times with national banks that are reluctant to help and only offer a limited choice of solutions.  Being local we have much more flexibility to restructure the mortgage so as to make it affordable or to provide moving and relocation assistance if the owner can’t afford to stay”.

Bert Cox started the New Hampshire Real Estate Investors Association and is well-known for the hundreds of short sales he’s negotiated with banks.  He is also a licensed real estate agent and auctioneer. A short sale means that a property is sold for less than what’s owed, but the bank releases the mortgage anyway.   Bert Cox says, “I’m really excited to be launching the Fund at this time for a number of reasons.  First and foremost, I believe the economy needs entrepreneurs like us to get back on track.  The fat cats are taking their hits and we’ll use it to bring back stability to the economy and make housing affordable again.  Second, our focus is local and we can more efficiently find win-win solutions for buyers, distressed sellers and home-owners and we can even provide some small relief for the original note holder who is also now distressed”.

For more information, call Bert Cox at 603-225-8000 or visit www.valueplaynotefund.com

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