Home S.C.O.R.E. S.C.O.R.E. Summary D.E.E.A. $ Benefit About Us Contact Us |
According to a report issued in 2007 by the Joint Economic Committee (J.E.C.) of the U.S. Congress and as chaired by Sen. Charles Schumer of New York, on average, the combined costs of each individual foreclosure to local government, borrowers, neighborhood homeowners and lenders is $77,935.00(1). Foreclosure statistics tracking service RealtyTrac reports that foreclosures were filed on 180,906 properties nationwide during the month of November, 2008(2). Annualized, this amount projects a total of 2,170,872 property foreclosure filings in the coming year. On the basis of these statistics and projection, as applied to just one half of the projected foreclosures for the coming year at a success rate of just 50%, the DEFERRED EQUITY EXCHANGE AGREEMENT would save regional economies and our national economy $84,593,454,660 in 2009 alone. As of January, 2009, RealtyTrac lists over 650,000 foreclosure and bank-owned homes (REO) for sale(3). According to an article recently published by The National Association of Realtors, the national median existing-home price for all housing types in June of 2008 was $215,100(4). On the basis of of these statistics, in the coming year if only 25% of foreclosure and REO listings were leased/sold through the utilization of the S.C.O.R.E. agreement, at a sale price of just 75% of the national median price of $215,100, $1,301,984,125 in monthly interest payments and $26,215,312,500 in REO sales would be generated in 2009 alone. Combined and applied at just a 50% and 25% success rate respectively, D.E.E.A. and S.C.O.R.E. would produce direct savings and new income in an amount in excess of one hundred and twelve billion dollars in 2009 alone ($112,110,751,285). Restoration of investor confidence in credit markets and lending institutions, and restoration of consumer confidence in the U.S. economy - priceless.
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