HomeVestors to Launch REO Program July 1
June 30, 2004
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Dallas--HomeVestors of
America Inc., the company known for its "We Buy Ugly
Houses" billboards, is introducing the HomeVestors Real
Estate-Owned (REO) Program on July 1 to buy "ugly notes"
from banks and financial institutions nationwide. With
advertisements debuting in the Wall Street Journal, USA Today and
financial trade publications, HomeVestors plans to buy performing
notes, non-performing notes, and REOs on single-family homes that
will expand the company's inventory to HomeVestors'
franchisees. HomeVestors will initially establish relationships with small-
to medium-sized lenders to buy these notes in bulk and turn the
properties over to the franchise network. The company also will
launch a Web site at www.uglynotes.com to support the program and offer
more information. -BizCom Associates
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