LRC Asset Management Joins Nehemiah Community Reinvestment Fund to Support Roofs for Troops Program

SAN DIEGO - Nov. 19, 2013 - PRLog -- SAN DIEGO, Calif.—LRC Asset Management, a majority-owned company of Loan Resolution Corporation, today announced that its partner, Nehemiah Community Reinvestment Fund (NCRF), a nonprofit, federally-certified community development financial institution (CDFI) has donated its first home to a widowed Army veteran through its Roofs for Troops program. Kira Ortega and her 2-year-old son Caleb were honored at last night’s Carolina Panthers football game halftime presentation, where they were presented keys to their new home in time for the holiday season.

LRC Asset Management, a nationwide asset disposition firm known for its proprietary RealtyRecon management services, joined forces with NCRF in January to manage properties held by the nonprofit, an organization that provides homeownership opportunities to low to moderate income, first-time, and veteran and military homebuyers. The home donation was made possible through NCRFs Roofs for Troops program, a program designed to help our nation's veterans by providing affordable homes.

“We are committed to helping our communities and those who serve,” said Ty Reed, managing partner of LRC Asset Management. “We are thrilled that Kira and Caleb now have a home to call their own.”

Through its Roofs for Troops program, NCRF works with financial institutions to acquire and renovate foreclosed properties into housing for veterans. This particular donation was made possible through a partnership between NCRF, Bank of America and the National Community Stabilization Trust. LRC Asset Management supports the program by facilitating the listing and sale of these homes. The new program hopes to grow rapidly through partnerships with financial institutions like Bank of America to give veterans a competitive advantage in the marketplace, while stabilizing communities.

“Our goal is to create programs and services that assist the homebuyer community that are so often overlooked, including low-income families, first-time homebuyers and veterans,” said Nicole Learned, operations manager for Nehemiah. “We want to honor Kira and the sacrifice she and her late husband made to our country and through this donation award, Kira and her son will gain some extra stability and security to have a new start in life.”

“Military veterans have sacrificed so much for our freedom,” said Damien Chiodo, managing partner at LRC. “The Roofs for Troops program gives us an opportunity to say thank you to our nation’s heroes.”

For additional information about Loan Resolution Corporation or LRC Asset Management, please visit: www.LoanResolution.com or call (760) 744-6032.

About Roofs for Troops

NCRF created the Roofs for Troops program in 2012 in response to the estimated 2 million military veterans who will return home from service by 2015. Roofs for Troops provides an opportunity for veterans and active duty military personnel to participate in the housing recovery by purchasing clean, safe, renovated and well-priced homes, all while interest rates remain at historic lows. The program provides participants the first opportunity to purchase a home that has been renovated to the highest standards by Nehemiah. It’s our way of thanking the men and women who serve or have served our nation and enabling them to participate in the freedom and dreams they preserve for all of us.

About LRC Asset Management:

Founded in 2012, LRC Asset Management assists banks, servicers and government-sponsored enterprises with the timely valuation, preservation, and liquidation of distressed assets on a nationwide basis, while utilizing its groundbreaking proprietary REO-management model.

About Loan Resolution Corporation:

Founded in 2005, Scottsdale-based Loan Resolution Corporation is an innovative, full-service company for mortgages and real estate. By using its proprietary technology that provides real-time reporting for its clients, LRC specializes in processing and underwriting loans, REO asset management, construction management, property management, lending, and mortgage servicing.

About Nehemiah Community Reinvestment Fund

Nehemiah Community Reinvestment Fund (NCRF) is a nonprofit, federally-certified community development financial institution (CDFI) and part of the growing opportunity finance industry. The NRCF provides capital and technical assistance to organizations working to revitalize low-income neighborhoods and provide housing, services and jobs to underserved people throughout the United States. Through creative, flexible financing and investments, NCRF makes capital available to community- and faith-based nonprofits, and mission based for-profit organizations that otherwise might be unable to obtain needed capital. http://www.ncrfund.org

Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties, including change in economic conditions of the various markets the Company serves.