BOCA RATON, FLORIDA, UNITED STATES, August 3, 2023/EINPresswire.com/ — Housing Opportunities, Mortgage Assistance & Effective Neighborhood Solutions, Inc. (H.O.M.E.S., Inc.), a mission-oriented housing non-profit based in Fort Lauderdale, Florida, is thrilled to announce a new strategic partnership with First Lien Capital that resulted in the award and acquisition of 62 HUD HECM Reverse Mortgages on vacant homes located in New York, New Jersey, Illinois, Florida, and Connecticut. This collaboration sets the stage for more assets being sold by HUD to reach local non-profits and end users who are struggling to access quality single family homes at affordable prices.
With specialized financing arranged by First Lien Capital, H.O.M.E.S., Inc. was granted Priority Bidder status with the US Government and acquired the 62 assets under its wholly owned entity, H.O.M.E.S. SPE LLC, which will be managed by First Lien Capital’s CEO, Bill Bymel. The non-profit will have its choice of assets to keep in the pool and participate in profits from the resale of remaining assets to the retail market. This investment will deliver remarkable returns to First Lien Capital investment partners while fulfilling a crucial need in communities seeking more housing inventory.
The strategic alliance between First Lien Capital and H.O.M.E.S., Inc. is underpinned by mutual admiration for the distinct niches both organizations have carved in the real estate landscape. Together, they have garnered recognition from HUD for their intention to create positive social impact on US society, focused in the area of housing. H.O.M.E.S., Inc. celebrates its 25th year in business this year, and this is their first time participating in HUD’s HVLS opportunity. This partnership was developed under the leadership of Linda Taylor, CEO of H.O.M.E.S., Inc. Founder of H.O.M.E.S., Inc., Katharine S. Barry and Founder of First Lien Capital, Bill Bymel have known each other for over thirty years.
Bill Bymel, CEO and Fund Manager of First Lien Capital, expressed his enthusiasm about this momentous milestone, stating, “We are extremely proud of the ESG element created by our association with H.O.M.E.S., Inc. and the valuable service this acquisition provides to communities seeking more housing inventory while supporting our mission-oriented non-profit partner.”
The reintroduction of shadow housing inventory will not only contribute to local economic growth but also aligns with H.O.M.E.S., Inc.’s mission to make housing more accessible for those in need and it showcases their alignment with HUD’s vision of fostering social responsibility and community development.
For further information about First Lien Capital’s range of services in all asset classes of real estate, asset management, portfolio servicing oversight, and mortgage finance, and how they are shifting paradigms in the mortgage and real estate investment industry, please visit www.firstliencapital.com.
For further information about H.O.M.E.S., Inc.’s mission, services, and initiatives dedicated to enhancing the lives of underprivileged communities by promoting affordable housing, community development, and social services, and how you can participate as a donor or volunteer, please visit www.homesfl.org or contact the office at (954) 563-5454.
About First Lien Capital:
First Lien Capital is a leading financial firm specializing in distressed mortgage investments and focused on establishing a new relationship between investors and borrowers through the creation of win-win resolutions to sub-performing, non-performing mortgages on residential and commercial real estate. As a privately owned investment platform, the firm owns over 700 residential mortgages and REO properties in more than 30 states, with a total value exceeding $100 million. First Lien Capital combines its deep market knowledge with a disciplined approach to investment management, aiming to generate superior results for its investment partners.
About H.O.M.E.S., Inc.
Housing Opportunities, Mortgage Assistance & Effective Neighborhood Solutions, Inc. (H.O.M.E.S., Inc.) is a Florida-based housing nonprofit that works to enhance the lives of individuals and families by providing safe and affordable housing solutions, with a focus on quality community and economic development benefiting at-risk, disadvantaged, lower income Broward County residents and neighborhoods. Through its mission-driven approach, the organization strives to create new opportunities and provide safe, inclusive, and vibrant neighborhoods where residents can thrive.
Kip Hunter Marketing
Lexi Udine | 954-812-3844 | Lexi@kiphuntermarketing.com
Kip Hunter | 954-303-5551 | Kip@kiphuntermarketing.com
For media inquiries and further information, please contact:
Ari Meltzer, President of First Lien Capital
+1 844-955-4675
ari@firstliencapital.com
