Bulk REO Portfolio Available – Tape Received Today (January 11, 2008)

California, Texas and Florida Bulk REO Package offered at 32% of Original Appraised Value, 50% of BPO

Original Appraised Value : $37,378,000
BPO: $24,601,000
Purchase Price: $12,300,700 LTV 47+3

Purchase Price Is 33% of Original Appraised Value

Composition:

California:
20 Properties, 16 single family homes, 1 multi, 1 PUD, 1 condo
Original Appraisal: $9,714,500
BPO: $6,233,900
Purchase: $3,116,950
Purchase / Original : 32%

Florida:
42 Properties, all SFHs except 6 condos, 2 multi-fam, 3 PUD
Original Appraisal: $21,378,500
BPO: $14,903,000
Purchase: $7,451,000

Texas:
11 Properties, 6 SFH, 3 PUD, 2 Condos
Original Appraisal: $3,211,000
BPO: $1,821,500
Purchase: $910,750

Balance is 9 properties in GA, 3 in NC and NV

Tape Is Available for Review to Qualified Buyers

We Will Accept Custom Requests as well, need LOI & POF