Mortgage Assistance Center Corp. Acquires a Residential Pool for $3.3 Million
RealEstateRama   -   Real Estate   -   Government   -   Nonprofit   -   Web

Mortgage Assistance Center Corp. Acquires a Residential Pool for $3.3 Million

DALLAS, Jan. 2 /PRNewswire-FirstCall/ — Mortgage Assistance Center Corporation (OTC Bulletin Board: MTGC) (the “Company”), headquartered in Dallas, announced today the acquisition of a $3.3 million pool of residential assets.

Ron Johnson, the Company’s President and CEO, said, “Our recent agreement this past October with a large Dallas-based investment fund, which provided for up to what is now $75 million in funding, has positioned us to take advantage of the many opportunities like this one in the distressed sub-prime market. We're ready to do business. We have the funds, the infrastructure, and an experienced, professional staff that's ready to handle additional acquisitions.”

This residential pool has properties in 12 states and is the second multi-million dollar acquisition since October.

About Mortgage Assistance Center Corporation

Mortgage Assistance Center Corporation, founded in 2003, is a Dallas-based financial services company that is focused on the acquisition, workout and profitable resale of distressed real estate assets in the secondary market throughout the United States.

Forward Looking Statements

This report contains forward-looking information. Forward-looking statements include statements concerning plans, objectives, goals, strategies, possible future events or performance and underlying assumptions, which are other than statements of historical facts. The Company believes its projections have a reasonable basis, but there can be no assurance that management's projections will be achieved. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to, limited operating history, historical operating losses and the uncertainty of the Company's profitability in the future, the need to raise additional capital to sustain operations and implement its future business plan, and other factors that may be beyond the Company’s control.

These factors include changes in regulations or legislation, adverse determination with respect to litigation or other claims, ability to recruit and retain employees, availability of mortgage note portfolios at acceptable prices, and increases in operating costs. The Company has no obligation to publicly update or revise these forward-looking statements to reflect the occurrence of future events or circumstances.

SOURCE Mortgage Assistance Center Corporation

© 2007 PR Newswire. All Rights Reserved.

SHARE

Texas RealEstateRama is an Internet based Real Estate News and Press Release distributor chanel of RealEstateRama for Texas Real Estate publishing community.

RealEstateRama staff editor manage to selection and verify the real estate news for State of Texas.

Contact:

Previous articleTDHCA cutting red tape to speed aid to state’s manufactured home owners in Rita areas
Next articleSymposium Offers 50 Workshops on Public Real Estate Topics