Who is a candidate for UC Assets mortgage partnership?
Any commercial property owners who have issue to keep up with their mortgage payments may participate into our mortgage partnership, and have their monthly mortgage obligations transferred to us. Particularly, we aim to help commercial property owners in metro Atlanta area, who have outstanding mortgage balance between $500 thousand to $5 million, and whose property income have been impacted by Covid-19 pandemic.
Is it a private loan or "Hard Money" loan?
No it's not. Actually it is not a debt program at all. The commitment from UC Asset will be represented as investment into your property, and you are not obligated to pay UC Asset back, even if things may go south.
How does a "mortgage partnership" work?
Under a mortgage partnership, UC Asset will become your business partner, and will take over all mortgage payments on concerned property (including any past-due payments). In return, UC Asset will be entitled to receive a fair share of the future income generated from the concerned property. The terms and conditions are flexible, and may generally be more favorite to property owners than other options such as "hard money" loans.
Why can it be a better option for my property?
Although it may not be always the case, it is very likely that a mortgage partnership with UC Asset will be less risky and have more upside for distressed property owners, than other options available on market.
Working with UC Asset you will have a partner who commits to help you pay all the outstanding mortgage, and dramatically reduce your risk of cash squeeze. Meanwhile, you will keep your share of net equity in the property. You will be entitled your share of its future income and of its property value appreciation, while being free from liabilities of monthly mortgage payment.