California Ethical Real Estate Funding, LLC (CEREF) - Hope for Homeowners

Our Profit Participation Program enables California homeowners to recapture a portion of the equity they have lost during the significant decline in statewide residential real estate values by participating in the proceeds from the sale of their property, despite owing more on their mortgage than their home is currently worth.

This Program is designed for homeowners that do not qualify for the Hope for Homeowner’s Program or wish to relieve themselves of the financial obligations associated with owning a home.

The Program is straight forward and consists of the following steps:

1. CEREF and the homeowner sign agreements that list the obligations of both parties and specify the homeowner’s profit sharing opportunity.
2. CEREF retains a licensed Real Estate Professional to value the homeowner’s property.  This report includes an interior and exterior inspection of the property and is shared with the homeowner.
3. Based on the report and an on-site inspection by CEREF Management, all necessary repairs are identified to maximize the property selling price.
4. The property’s listing price is based on the Realtor’s report and the profit sharing agreement is completed.
5. The homeowner vacates the property and receives an initial payment.
6. All necessary repairs are completed.  CEREF pays all remediation expenses.
7. The home is listed for sale.
8. Once the sale closes, the homeowner receives a final payment based on their share of the profit from the sale.

The benefits to homeowners of this Program are substantial:

• Immediate relief from unmanageable debt load.
• Cash compensation paid to facilitate relocation and at closing of sale.
• Stops additional and unnecessary credit damage.
• Accelerates homeowner’s financial recovery.
• Positions homeowner to re-purchase a new home quicker and under better terms.

Program Summary

The CEREF Profit Participation Program is straightforward and easy to implement.  The following agreements must be completed prior to initiating the Program:

• Broker Price Opinion
• Deed-in-Lieu of Foreclosure
• Estoppel Affidavit
• Occupancy Termination Agreement
• Profit Sharing Agreement
• General Release

These documents can be downloaded from our website by contacting a CEREF representative who will provide you with a password.

Contact us via one of the following methods:

• Toll-Free: 800.750.5363
• Local Phone: 562.446.4340
• Submit your information using our online Contact Form and put “Profit Participation” in the subject line.
  

Once you receive the password, click here for the document download page.

We encourage you review these documents and consult legal counsel prior to entering into this transaction.  Should you have any questions do not hesitate to contact us.