Finance Is the Ticket

Restaurant Finance & Development Conference

MINNEAPOLIS, MN, USA, August 21, 2019 / — Finance is the ticket, it’s always been the focus of the Restaurant Finance & Development Conference. Attendees come to the conference to raise capital for new unit development and remodels, refinance existing term debt or credit lines, sell and lease back real estate, master the vagaries of valuation and the restaurant M&A scene, and stay up-to-date on a wide variety of financial, economic, accounting, technology, delivery and restaurant business topics. All are good reasons to attend the conference.

The networking though, is best in class. We go out of our way to facilitate introductions and foster an environment for productive meetings with other attendees. We’re also proud of the number of restaurant operators we attract to the conference, and those we feature on our agenda. This year is no exception.

A complete brochure for the conference is now available online at We recommend you register now as we’ve reached capacity the past few years.

Gayle Strawn
Restaurant Finance Monitor
+1 612-767-3201
email us here

Source: EIN Presswire

Tom Girardi, Acclaimed Attorney, Wins Best of Los Angeles Award- “Best Legal Podcast – 2019”

Tom Girardi, Acclaimed Attorney

“We're honored to include Tom Girardi of Girardi Keese into our BoLAA family.” ~Aurora DeRose

LOS ANGELES, CA, UNITED STATES, August 21, 2019 / — Tom Girardi, the nation’s top trial lawyer, wins Best of Los Angeles Award– “Best Legal Podcast – 2019” for his “Champions of Justice” Radio Show, according to Aurora DeRose, award coordinator for the Best of Los Angeles Award community.

The “Best of Los Angeles Award” community was formed four years ago and consists of over 5,400 professional members living and working in Southern California. It celebrates the best people, places and things in Los Angeles with a slogan “No Ads. No B.S. Only the Best.”

“The mission of the community is to celebrate the best of Los Angeles, and allow its community members to connect with other members who share the highest standards of quality and integrity,” expresses DeRose. "We're honored to include Tom Girardi of Girardi Keese into our BoLAA family."

With nearly fifty years of experience representing victims, Girardi has obtained numerous multi-million-dollar verdicts and settlements, handling claims involving wrongful death, commercial litigation, products liability, bad faith insurance, and toxic torts. In 2003, he received the most prestigious honor of being inducted into the Trial Lawyer Hall of Fame by the California State Bar.

In one of Girardi’s better-known cases against Pacific Gas & Electric, the utility company agreed to pay $333 million to 650 residents of the desert community of Hinkley, California. The residents blamed incidents of cancer and other diseases on contaminated water leaked from a gas pumping station. This case was the inspiration for the film Erin Brockovich starring Julia Roberts.

Albeit, one of the most influential lawyers of our time, Girardi amorously sites, “Perry Mason. He was a lawyer on television, 7pm on Saturday night and I would watch that show every Saturday,” as one of his earliest childhood law inspirations.

Recently, Girardi appeared in “Without Notes,” an acclaimed television show for the web that rediscovers the art of long form communication. The show began in 2014 and has since grown a considerable and influential audience on YouTube. Some of the past guests of “Without Notes" have included Associated Press writer Linda Deutsch, Doctor M. Zudhi Jasser, world-famous dominatrix Isabella Sinclair and many more.

“I was humbled to have the privilege to interview one of the most influential legal minds of the last five decades” said moderator, Michael Levine. “Referring to Tom Girardi as an attorney is like referring to Michael Jordan as a basketball player. No matter what he does in the upcoming year, I know it will be great.”

The Champions of Justice Radio Show can be listened to online, where Girardi hosts an informative and entertaining hour illuminating the headline-generating legal challenges of the day.

Aurora DeRose
Michael Levine Media
+1 310-396-6090
email us here

Source: EIN Presswire

OkGlobal Coin Brings Wall Street to Main Street: the Deflation of Inflation & Currency Backed by Guaranteed Value

OKGlobal Coin & SWITCH

OKGlobal Coin & SWITCH

OKGlobal was created to put profits back into the hands of the people.

This is the first global cryptocurrency Security Token Offering to erase inflation and that is backed by real intrinsic value.”

— Han S. Kim

SINGAPORE, August 21, 2019 / — OKGlobal Coin & SWITCH is pleased to announce the launch of its participant owned financial services and investment platform. Offering a variety of unique services, OKGlobal Coin will resolve the real world problems of high fees, slow account reconciliation times, value volatility and lack of intrinsic trading value.

“This is the first global cryptocurrency Security Token Offering to erase inflation and that is backed by real intrinsic value,” says company founder Han S. Kim. “The OKGlobal platform is the revolution and evolution of currency with democratized ownership and profit distribution.”

Han adds that the rates and fees charged by OKGlobal will be the lowest available in the marketplace. Merchant payment processing will be offered at one-tenth to one-thirtieth less than current market rates, with zero per transaction fees, secured insurance premium financing, global currency cross payments to erase or reduce currency exchange fees and other conservative low to no risk currency management solutions. Debit cards and checking accounts (held in fiat and/or crypto) will be made available free of charge.

All profits will be reinvested into the coin ledger balance, thereby increasing the intrinsic value and the stability of all coin holders, and profits are guaranteed to increase year after year.

Users can access OKGlobal online or at local OKGlobal community service centers. The Coin is backed by real assets and investments, and offers instant conversion to traditional fiat currency, or it can be held in the OKGlobal cryptocoin account.

“Anyone can invest with OKGlobal,” concludes Han. “Your investment is never locked in. You can spend it as you wish, but unlike with the banks, you get to watch your account grow, and you’ll never have to worry about inflation. It’s a great solution for everyone, whether you’re a merchant or just someone who’d like to put their money to better use. It’s a win-win for everyone concerned.”

About the Company

OKGlobal Coin Switch offers secured, guaranteed blockchain technology for payment processing, banking, financing, currency exchange and investment services. Providing a much-needed solution for common currency and investment risks and limitations, the platform offers a huge number of benefits to users, and is poised to take over the banking, finance and investment industries.

The OkGlobal Coin Security Token offering launches September 20th, 2019. For more information, visit the website at

Han S. Kim
OKGlobal Coin Switch
+1 888-901-4199
email us here

Source: EIN Presswire

GPB Capital Investors Attempt to Recover Losses

GPB Capital

GPB Capital

GPB Capital investors are seeing massive declines in value and fearing for the worse following a series of bad news and investigations.

PALM BEACH, FL, USA, August 21, 2019 / — GPB Capital investors continue to receive more negative news this month. With allegations of a "ponzi-like" scheme coming from a former business partner in pending Massachusetts litigation. This following reports of substantial losses for investors including some GPB funds reporting over 74% losses.

Many investors are understandably worried about losing their investment principal and they are taking action against brokers-dealers and financial advisers who sold them to GPB Capital.

Jason Haselkorn, Partner at Haselkorn & Thibaut. P.A., a national securities fraud law firm, said: "Our firm is getting many calls from investors who are fearing the worst."

Mr. Haselkorn continues, noting: "We have over 40 years of experience with investment fraud type matters, and investors seem to be particularly concerned regarding GPB Capital funds.”

One explanation for that concern might be the significant and widespread dispersion of GPB Capital sales all over the country.

With over 60 broker-dealer firms earning commissions for having sold GPB investments to clients all over the country, it is no surprise in recent months that we have received calls from investors who have asked us to begin investigating a number of potential claims involving some of those firms, including, but not limited to: Hightower Securities, Royal Alliance, FCS Securities, Woodbury, Madison Avenue Securities, Dawson James Securities, and 60 other brokers.

GPB investors have limited time to submit their claims for recovery of investment losses. Investors who want to recover their losses or consider options can get a free case and portfolio overview by calling 1-888-628-5590.

Attractive investment income may not have always been accurately represented to some investors in GPB Capital funds. Also surprising to many investors are the extremely high commission rates paid to the financial advisoers and broker-dealer firms that recommended and approved the transactions. According to Investment News, financial advisers received more than $100 million in commissions!

At least some of the negative news began last July, as litigation in New York was pending between GPB Capital and a former partner and the allegations in that case raised some concerns for investors. Other issues raising further concerns for many investors include:

• GPB has delayed filing audited financial statements;

• August 2018: GPB announced that no new investor capital would be accepted;

• November 2018: the GPB auditor, based on perceived risk issues, resigned; and

• December 2018: FINRA and SEC launched independent investigations into GPB.

• February 2019: the FBI invaded the GPB offices.

The sole purpose of this release is to investigate the way in which GPB Capital funds were approved for sale by any broker-dealers to investor clients. If you have any knowledge or experience with these matters, please contact Haselkorn & Thibaut, P.A. at 1-888-628-5590, or visit the law firm's website at

About Haselkorn & Thibaut

Haselkorn & Thibaut is a national law firm that specializes in investment fraud matters and FINRA arbitrations. They represent both individual and institutional investors to aggressively recover investment losses for victims of investment fraud.

Jason Haselkorn
Haselkorn & Thibaut, P.A.
+1 888-628-5590
email us here

GPB Capital – Investor Alert

Source: EIN Presswire to Debut EaslerLMS E-Commerce Platform at the 2019 SAPAA Conference in Philadelphia

Easler Learning Management System

Easler Learning Management System, announced today that it will debut its new online platform at the 2019 Annual SAPAA Conference taking place from September 16-19, 2019.

Our platform aims to be a centralized host of quality, up-to-date content that can be shared by industry professionals including program administrators and third party administrators.”

— Andrew Easler

ORLANDO, FLORIDA, UNITED STATES, August 21, 2019 / —, the leader in drug and alcohol testing training and education announced today that it will debut its new online platform at the 2019 Annual SAPAA (Substance Abuse Program Administrators Association) Conference taking place from September 16-19, 2019 at the DoubleTree by Hilton Hotel Philadelphia Center City, 237 S. Broad St., Philadelphia, PA 19107. The platform hosts unique, industry-specific training programs designed for industry leaders and stakeholders.

Andrew Easler, a career educator and co-founder of summarizes the motivation for the new platform, “the laws regarding training in the drug and alcohol testing industry provide for very little oversight. Even though the bar for minimum training standards is often set fairly low, there are still too many in-person and online training programs out there that consistently miss the mark. I have trained individuals who have been working in the industry and taking recurrent training consistently for decades–individuals who should, by their experience, be industry gurus–and have been amazed to find that they were never taught critical aspects of a procedure in any of their courses. They have been collecting specimens, conducting breath tests, or making reasonable suspicion determinations incorrectly sometimes for decades and no one along the way corrected them in training. I see a serious issue with that. Our platform aims to be a centralized host of quality, up-to-date content that can be shared by industry professionals including program administrators and third party administrators.”’s learning platform helps respected industry leaders including C-SAPA’s and other industry professionals to integrate learning solutions to their programs. In-house Designated Employer Representatives (DERs) and Drug and Alcohol Program Managers (DAPMs) have the option to easily invite users to the platform, purchase credits, manage their enrollment, monitor progress, and download certificates from one co-branded portal. Similarly, third party administrators will have the same options and the additional option to integrate an e-commerce system, allowing clients to purchase courses and earn commissions directly from their site.

Conference attendees can find at booth #33. Attendees will be able to meet with company co-founder James Timothy White and instructor Wade Douty who will be giving away prizes and answering questions about the program.

About is operated by Easler Education Inc. and provides the training and skills necessary for industry professionals including supervisors, drug and alcohol program managers, collection site personnel and drug testing entrepreneurs to make a positive and lasting impact in the struggle against substance use and abuse in the workplace. The course offering covers most aspects of a drug and alcohol-free workplace ranging from Designated Employer Representative (DER) courses and Supervisor Reasonable Suspicion training to DOT and Non-DOT drug and alcohol testing training.

About SAPAA:

SAPAA is a non-profit trade association whose members represent alcohol and drug testing service agents, including third-party administrators (TPAs), in-house administrators, medical review officers (MROs), DHHS Certified Laboratories, Substance Abuse Professionals (SAPs), manufacturers of testing devices, and collection sites/collectors. Our membership includes representation from all 50 states and Canada in all of the above professions. SAPAA is committed to providing members with up-to-date information concerning regulatory changes, state issues, industry trends, and member discounts on training courses and conferences.

James Timotny White
+1 888-390-5574
email us here
Visit us on social media:

Source: EIN Presswire

McKinney & Olive Achieves 100% Occupancy in Retail Leasing with Addition of Hugo's Invitados

McKinney & Olive retail area

Hugo’s Invitados to build 11,000 square-foot flagship location at McKinney & Olive. A soon-to-be-announced all-day concept will be eighth restaurant option.

We’re extremely proud that McKinney & Olive has not only maxed out its office leasing with exceptional customers, but we’ve also filled our retail space with premier restaurant and retail operators.”

— John Zogg, managing director for Crescent Real Estate.

DALLAS, TEXAS, US, August 21, 2019 / — Crescent Real Estate LLC (Crescent) and J.P. Morgan Asset Management announced today that luxury office tower McKinney & Olive has now attained 100% occupancy in both office tower and retail portions of the project, thanks to the addition of two new restaurants. Opening in 2020, the upscale dining Hugo’s Invitados and a soon-to-be-announced all-day concept will join the already successful dining mix found at McKinney & Olive, bringing a total of eight options at various price points.

McKinney & Olive, which opened in August 2016, is the first commercial building in Dallas designed by an internationally acclaimed architect since the 1980s. Led by the late Cesar Pelli, architectural firm Pelli Clarke Pelli envisioned the 20-story, 536,000 square-foot structure that features world-class architecture, premier office and retail space, and unrivaled visibility in the vibrant pedestrian-oriented Uptown Dallas neighborhood.

“We’re extremely proud that McKinney & Olive has not only maxed out its office leasing with exceptional customers, but we’ve also filled our retail space with premier restaurant and retail operators,” said John Zogg, managing director for Crescent Real Estate.

Hugo’s Invitados – whose Las Colinas location continues to draw rave reviews for its fresh, organic, chef-inspired menu and dedication to the guest experience – will build a flagship location in the 11,000-square-foot end space opposite of Del Frisco’s Eagle Steakhouse in McKinney & Olive.

Behind the concept is a partnership between entrepreneur Mark Hulme, managing member of Five Points Holdings, and restaurateur Hugo Miranda, who prior to this partnership was last seen conceiving and operating the six Meso Maya locations. Chef Natalio Charles is at the helm of the kitchen, bringing 21 years of experience working at some of Dallas’ finest restaurants. Together, in Hugo’s Invitados’ new space, they’ll continue to “craft a uniquely Mexican-influenced and guest-inspired culinary experience unlike anything else in the region.”

The Hugo’s Invitados brand will also debut its newest concept in its own space next door, a fast-casual concept offering unique street tacos and organic margaritas with access to the spacious outdoor terrace seating.

The final restaurant – which will be announced in coming months – will offer an all-day menu of breakfast, lunch and dinner within its 5,338-square-foot space.

Culminating a long-term plan, the final lineup of restaurants provides diverse and exciting retail and dining options to customers officing in the building along with clientele and travelers from nearby businesses and hotels. John Zogg added that Dryar and CycleBar “have attracted a passionate patronage and have proven extremely popular retail options that keep Uptown workers and residents looking their best.”

Zogg also notes that McKinney & Olive was the first in Dallas to debut the restaurant concepts of Roti Modern Mediterranean, Mixt, Starbucks Reserve and Doc B’s Fresh Kitchen. Additionally, both Del Frisco’s Double Eagle Steakhouse and the forthcoming Hugo’s Invitados each chose the luxury tower for flagship locations.

Hugo’s Invitados will join McKinney & Olive’s hub, Del Frisco’s Double Eagle Steakhouse, a fine-dining spot with the highest quality steaks, seafood, hospitality and service. Other restaurants are Starbucks Reserve, a one-of-a-kind concept found in a handful of locations across the world; Doc B’s Fresh Kitchen, a Chicago-based fast-casual concept that focuses on house-made and mindfully sourced dishes and craft beer, wine and spirits; Mixt, a San Francisco-based, fast-casual healthy salad and sandwich concept; Roti Modern Mediterranean, a popular, fast-casual concept found in New York City and along the East Coast that showcases the Mediterranean's delicious flavors, wholesome ingredients and bright spices; and Malibu Poke, the raw-fish darling created by James Beard-nominated Chef Matt McCallister.

CycleBar is a popular premium indoor cycling class that features a variety of energizing rides tailored to all fitness and experience levels, and California-based Drybar focuses solely on blowouts with hairstyles named after cocktails such as the Cosmo, Mai Tai, or Manhattan.

Other retail offerings at McKinney & Olive include CrossFirst Bank, a $2 billion bank designed to meet the financial needs of business owners, professionals and their families; The Marketplace offering fine wine and sundries; Voila Dry Cleaning & Laundry; an electric car charging station; a car detailing service and a shoe-shine service.

Luxury hotel accommodations are available across the street at the Crescent-owned The Ritz-Carlton, Dallas, and Hotel Crescent Court, which recently completed a $30 million renovation.

McKinney & Olive is located at 2021 McKinney Ave in Dallas, Texas. For more information, visit


Crescent Real Estate LLC (Crescent) is a real estate operating company and investment advisor, founded by Chairman John C. Goff, with assets under management, development, and investment capacity of more than $10 billion. Through the GP Invitation Fund I and the GP Invitation Fund II, the company acquires, develops and operates all real estate asset classes alongside institutional investors and high net worth clients. Crescent’s premier real estate portfolio consists of Class A and creative office, multifamily and hospitality assets located throughout the U.S., including The Ritz-Carlton, Dallas, and the wellness lifestyle leader, Canyon Ranch®. For more information, visit

J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than $148 billion in assets under management and over 750 professionals (as of March 31, 2019), we offer strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives, and hedge funds. Operating from 18 offices throughout the Americas, Europe and Asia Pacific, our independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client’s specific objectives. For more information:

Becky Mayad
Crescent Real Estate
email us here

Source: EIN Presswire

Stonehill Expands Executive Team with Healthcare Innovation Executive

Stonehill announced today that Teddi Barber has joined the firm as Vice President. Teddi will be responsible for delivery of business transformation services.

Her unique experience in healthcare innovation, change management, and financial modeling makes her a perfect fit for our team.”

— Doug Pace, Founder and CEO of Stonehill

TAMPA, FL, USA, August 21, 2019 / — Stonehill announced today that Teddi Barber has joined the firm as Vice President. Teddi will be responsible for the delivery of business transformation services that include strategy facilitation, design thinking, business intelligence, financial modeling, and organizational design. She will also contribute to the overall strategy of the firm and actively lead business development activities.

Prior to joining Stonehill, Teddi served as part of the corporate management team for Shriners Hospitals for Children®. At Shriners she managed the Organization’s largest Division located at its International Headquarters. Her sphere of influence spanned corporate financial management, leadership of large-scaled programs directed at value generation, contracting and development of cross-synergistic opportunities for high return yields.

Teddi holds a Bachelor’s of Science in Finance and Economics and a Master’s Degree in Business Administration (M.B.A.) from the University of South Florida. She is currently pursuing a Fellowship with the American College of Health Care Executives (ACHE). Passionate about change management, Teddi is a noted speaker on strategic vision, cultural change and business agility. Teddi is a former Board of Director for Dress for Success Tampa Bay and currently serves the Organization in an Advisory capacity. Teddi is a committed supporter of the Girl Scouts of West Central Florida and has served as a Coach and Mentor with their Camp CEO program.

“We are excited to have Teddi join the Stonehill team” said Doug Pace, Founder and CEO of Stonehill. “Her unique experience in healthcare innovation, change management, and financial modeling makes her a perfect fit for our team.”

About Stonehill
Stonehill is a strategy and innovation consultancy. As recognized experts in Design Thinking, Customer Experience, and Business Intelligence, Stonehill helps companies to identify opportunities, create change, and accelerate growth. Our teams consist of an innovative blend of creative, strategy, technology, and change management experts, giving us the ability to unite the functional silos of business in the common objective of creating differentiated customer experiences. Stonehill has been recognized by the Greater Tampa Chamber of Commerce as a finalist for Startup of the year, the US Chamber of Commerce as a Finalist for Emerging Business of the Year, Great Agencies as one of the Top Business Intelligence Consultants in the United States, and CIO Review Magazine as one of the 20 Most Promising Performance Management Providers.

Doug Pace
+1 7276416145
email us here

Source: EIN Presswire

Universal Lenders LLC Integrates with Darwin Automotive’s Entire F&I and Digital Retailing Software Suite

Our goal is to provide the most seamless experience for our dealerships and integrations with best in class solutions such as The Zero Plan® help accomplish this.”

— Jeff Stafford, CMO of Darwin Automotive

CHICAGO, IL, USA, August 21, 2019 / — — Universal Lenders LLC, creator of The Zero Plan®, announced today the integration of the ZERO Plan program with the entire suite of Darwin Automotive F&I and Digital Retailing software solutions.

This integration partnership will allow Darwin’s many clients access to premium finance all F&I products, including non-cancellable products, while seamlessly and effortlessly e-contracting the transaction using the ZERO Plan integration.

“The ZERO Plan® and Darwin — What a perfect partnership!” said Jeff Jacobs, CEO of Universal Lenders LLC. “The ZERO Plan® is the only installment plan that allows multiple F&I products from different providers to be premium financed on one installment agreement with one customer payment. Our Dealer friendly program that funds the dealer in 7 days, provides up to 36 installments and reduces chargebacks by 50% fits perfectly with Darwin’s award-winning platform.”

“Many of our customers are extremely excited about the addition of The Zero Plan® integration,” said Jeff Stafford, CMO of Darwin Automotive. “Our goal is to provide the most seamless experience for our dealerships and integrations with best in class solutions such as The Zero Plan® help accomplish this.”

About Universal Lenders LLC

A privately held company located in the Chicago area, Universal Lenders LLC offers a nontraditional approach to premium financing marketed as the ZERO Plan®. With a goal to increase dealership profits by increased use of premium financing, Universal Lenders LLC created the ZERO Plan® as a dealer friendly platform. Founded by an ex-auto dealer, Universal Lenders has been financing vehicle service contracts and other F&I products for over 20 years in the Chicago land area and in January of 2010 expanded their program nationwide. In 2019 the ZERO Plan was awarded the prestigious Dealers Choice Award as the best provider of F&I product financing. For more information, please contact or visit

About Darwin Automotive Inc.

Over 5,000 dealers have now enrolled with Darwin Automotive, and they're on pace to deliver approximately 1/3 of the anticipated 17M new vehicle sales in 2019. Thanks to partnerships with the largest F&I agencies, OEM’s and DMS providers in the country, Darwin has become one of the fastest-growing software solutions in the automotive industry. For more information, visit

Jeff Stafford
Darwin Automotive
(908)-222-4020 ext. 224
email us here

Source: EIN Presswire

Joffrey Long, Hard Money Expert Witness, Answers Questions From Yesterday’s Article – Foreclosures and Trustees Sales

Mortgage Expert Witness

Joffrey Long

Test Your Foreclosure Knowledge: Answers to 19 Questions from Yesterday's Article

If you can answer 40% of these foreclosure questions, you’re ahead of most of the people in our industry.”

— Joffrey Long

LOS ANGELES, CA, UNITED STATES, August 21, 2019 / — How did you do?

Let’s look at some answers:

Just a note: The trustees sale proceeds are reduced by the trustee’s fees and expenses, so any available funds would be slightly less than the price at the sale. To avoid confusion, “trustees sale proceeds” or the “amount paid at the sale,” in this article, refers to the net amount paid, after deduction of any trustees fees and expenses.

Trustees Sale Bidding:

Answer: In this case, the $400,000 trustees sale proceeds represents $90,000 in “excess proceeds” above the lender’s full credit bid of $310,000. From the $90,000, $60,000 would go to pay off the second trust deed, and the remaining $30,000 would go to the holder of the 3rd trust deed.

While the third trust deed receives only $30,000 of the $100,000 owed to them, the foreclosure of the first trust deed eliminates the 3rd trust deed holder’s secured interest in the property. At this point, the former third trust deed holder can only look to the borrower or to any other collateral that secures the loan for repayment.

Regarding the second part of the question, where the same property sold for $500,000 at the sale: In this case, there are $190,000 in excess sales proceeds in excess of the lender’s bid of $310,000. The first $60,000 of excess proceeds would go to pay off the second trust deed, the next $100,000 would pay off the third trust deed, and the remaining $30,000 would go to the foreclosed trustor/owner, assuming there were no other recorded liens or judgements.

Second trust Deed:

A lender holds a second trust deed and the first trust deed (or any senior lienholder) forecloses. The foreclosure eliminates the secured interest of the second trust deed holder (or other junior lienholders) in the property being foreclosed. The loan or debt is not “wiped out,” as many would say. The “only” (although significant) consequence of the foreclosure is the elimination of the second trust deed holder’s secured interest in the property. The term “wiped out,” although commonly used, may give an incorrect picture of what is occurring.

Answer: When a senior lienholder is foreclosing, junior lienholders commonly attempt to protect their interest by advancing funds to reinstate the delinquent loan and cure the foreclosure. Depending on their loan documents, they may add the amount advanced to the total debt and charge interest on the advance at the note rate. They could then begin their own foreclosure.

The method I usually use is to wait until the first (or senior) trust deed holder schedules a trustees sale. Prior to the sale, the junior lienholder determines two amounts: 1- The amount that the property would have to sell for at the trustees sale to generate enough excess proceeds to completely pay off their junior lien 2- the amount that the junior lienholder would be willing to pay to acquire the property. Then, the junior lienholder brings their own funds to the trustees sale and if the highest third party bid at the sale is not enough to generate sufficient excess proceeds to pay off the junior lienholder, the junior bids higher and either 1-drives up the bid price so that the excess proceeds pay off their loan, (example: The first is going to sale with an opening bid of $250,000, my second is $50,000, so as long as the house sells for 300,000 or more at the sale, the excess proceeds would pay off my second.) or 2-acquires the property. This strategy depends heavily on the equity in the foreclosed property, the junior lienholder’s ability to administer and manage the acquired property, and most importantly, on the amount of any competitive bidding.

If you haven’t attended a trustees sale, I recommend it. What’s surprising is that the majority of sales, from the time bidding starts to the time the winning bidder is announced, occur is less than 60 seconds.

Delinquent property tax:

Answer: Remember, that the first trust deed is only the first TRUST DEED. It is not necessarily the first lien on the property. Property taxes are a “super-lien,” meaning that they “cut ahead” in line in front of any trust deed. At the point of foreclosure of the any trust deed, none of the proceeds of the trustees sale go to pay delinquent property taxes. In answer to the second part of the question, the successful bidder does not acquire the property free of the taxes, they remain unpaid.

IRS Lien:

Answer: First, when the first trust deed forecloses, none of the proceeds of sale go to pay off the IRS, at least not directly from the sale. From the $400,000 paid at the auction, $310,000 would go to pay the first trust deed and the remaining $90,000 would go to the former trustor/owner.

However, depending on wherever else the IRS lien shows up, the owner may later have additional funds removed from their bank account or otherwise garnished/confiscated.

The IRS has a 120-day redemption period where they can “re-purchase” the property from the successful bidder. They repay the bidder the cash that the bidder paid out, plus interest for the time their money was tied up.

IRS liens, like child support liens and certain judgements, are recorded with the county recorder against the individual, not necessarily against a specific property – but create a lien against any property owned by the individual in the county where the lien is recorded. Obtaining a title search on the property alone might not show the lien, but when the “statement of information” is obtained and checked by the title company, the additional liens impact title to the property.

Excess Proceeds:

Answer: With a trustees sale at $400,000, the first $270,000 would go to pay off the existing first. The “excess proceeds” are $130,000 and would be distributed to 2nd, 3rd, and other lienholders, if any exist. Any amount beyond what other lienholders get would go to the trustor/borrower. (foreclosed property owner)

Trustees Sale:

Who conducts the trustees sale?

Answer: The trustee, obviously, right? Not exactly. Although it is the trustee that administers the trustees sale, the truth in today’s practice is that trustee companies generally don’t conduct the physical auctions themselves. They generally have the companies that publish the required notices in papers of general circulation, (called “posting and publishing companies”) handle the actual auction process. Where there are hundreds of trustee companies with foreclosure sales occurring every day, there will usually only be 4 or 5 auctioneers at any county’s trustees sale location that day. Each auctioneer is an employee of one of the posting and publishing companies and is likely announcing as many as 100 or 200 different trustees sales for different trustee companies. The majority of all scheduled sales are announced as postponed for one reason or another, so each auctioneer may be calling a significantly smaller number of actual auctions.

Deed in Lieu of Foreclosure:

Answer: Not always.

The problem with a deed in lieu of foreclosure is that when someone deeds you property, you acquire whatever interest in the property they had at the time of delivery of the deed to you. If, since the loan was made, the borrower has “picked up” a few judgements, other liens, an IRS lien, and a child-support lien, all of those are now “attached” to the property. If you accept the deed in lieu of foreclosure, you now get to start trying to remove all of those liens, which may be impossible. If instead, you finish the foreclosure of your lien, which is senior to all the subsequent items against the property, your foreclosure “cleanses” the title, returning it to you with only liens that were senior to your lien.

Another alternative I’ve used is to agree to accept the deed in lieu, subject to obtaining acceptable title insurance on the transfer. Just as when you buy property, this gives you a careful search of the title and more importantly, a policy of title insurance against any unknown items that went against the seller’s title. In accepting a deed in lieu of foreclosure, even with title insurance, it may be worth it to consider having an escrow on the transaction. Ask your accountant, but it may be helpful to have an escrow closing statement to verify the “price paid” for the property for calculation of depreciation or profit on any later resale.

Lender’s Bidding at the Trustees Sale:

Answer: The maximum amount of a lender’s opening bid at the trustees sale would be the total of principal owing, interest due, late charges, funds advanced, attorney’s fees, and other amounts that are due to the lender. Added to all this are the trustees fees.

As to the next question, why would a lender ever want to bid LESS than the total amount owed?

Answer: When the lender/creditor bids the total amount they are owed, it is referred to as a “full credit bid.” The challenge with making a “full credit bid” is that when the lender bids the full amount they are owed, since they then “received” the property by its reverting to them as beneficiary, in exchange for the amount they bid, and may be deemed to have been “paid in full.” This can be a problem if there are other sources to collect from, such as hazard insurance policies, in some cases, title insurance policies, or funds available from any guarantors.

A possible solution is to enter a “less than full credit bid.” For example, if the total amount of the loan and all charges were $310,000, a lender might open with a bid of $75,000 of the 310,000, leaving $235,000 “unpaid.” This better enables the lender to pursue the unpaid amount through any possible other sources. If there are other bidders, the lender may increase their minimum bid until the bidding increases to an amount equal to, or in excess of an amount that they are willing to accept. If the bids do not rise to an amount that the lender will accept, then the lender will acquire the property.

A lender or loan servicer may also open bidding with a less than full credit bid to encourage the likelihood of a third-party bidder buying the property at the sale. If the lender’s total loan is $600,000 and the property is only worth $550,000, and the lender opens the bidding at the full $600,000, there likely won’t be third-party bidders and the property would revert to the lender. In taking back the property and re-selling it, netting $500,000 may be difficult, considering holding/repair costs and the time / effort in marketing the property for sale. An opening bid of $500,000, or some other bid lower than the estimated market value, could result in the lender getting cashed out quickly from the loan by a purchaser at the trustees sale.

Although potentially important with all types of loans, there may be more frequent consideration of bidding less than the “full credit bid amount” when acting as a loan servicer for loans in the category of private money or hard money lending.

Expert witness testimony is sometimes required in mortgage litigation matters, regarding whether or not lenders or loan servicers acted correctly in setting their opening bids or any subsequent bids for trustees sales. For more information about full credit bids, Google the article, “Full Credit Bids, Avoiding the $475,000 Mistake.” I co-wrote the article with Attorney John Hosack of the Buchalter Law Firm. It was published by the California Mortgage Association, the California private money (hard money) lender’s trade association.

Is the Trustees Sale “As-Is?” Are You Sure?

Trustees sales were originally thought of as being “as is,” with lenders or loan servicers never being expected, under any circumstance, to provide any information about the property condition.

In a 1991 case, “Karoutas vs. HomeFed Bank,” the lender was aware of severe geological problems and didn’t inform prospective bidders at the sale. Ultimately, a ruling was handed down that when the lender is aware of a property defect that is not of public record and would not be observable by a prospective bidder, they are required to make a disclosure when conducting a trustees sale.

Hard Questions: “Foreclosure 103” Judicial Foreclosure

We can foreclose through non-judicial foreclosure (standard notice of default, notice of sale and then a trustees sale) or we can foreclose through judicial foreclosure, where you file a court action to foreclose. Non-judicial foreclosure can take as little as about four months and the direct fees of the foreclosure may be less than 2% of the amount of the loan. Judicial foreclosure is a “full-on” lawsuit and could take years and cost tens, maybe hundreds of thousands of dollars.

Question: Why would anyone do a judicial foreclosure?

Answer: The most common reason is the potential to obtain a deficiency judgement against the borrower for portions of the balance that are not satisfied by foreclosing on the property. When non-judicial foreclosure is used, a deficiency judgement against the borrower cannot be obtained.

What other reasons are there?

In judicial foreclosure, it’s possible to have the court appoint a receiver to take over the property, collect rents, and otherwise administer the collateral. The receiver gets a court order authorizing them to collect rents. At times, the mere threat of appointment of a receiver causes certain borrowers to re-instate their loans, or at least “come to the table,” and make arrangements with the lender.

Could you start both a judicial and a non-judicial foreclosure at the same time?

Answer: Yes. Both a judicial and non-judicial foreclosure can be commenced at the same time, but only one can be completed. The reason for conducting both may be, for example, to file the judicial foreclosure in order to appoint a receiver but complete the non-judicial foreclosure as quickly as possible, once the receiver is in place.
Through my work in private money lending, expert witness consultation and testimony, as a loan servicer, and through reviewing relevant mortgage litigation cases from the Superior Courts and Federal Courts, as well as related laws and regulations, I’ve been fortunate to have had access to this fascinating (to me) area of trust deeds and real estate lending.

Joffrey Long is the President of Southwest Bancorp, a hard money lender and loan servicer in Los Angeles, CA. He testifies in mortgage litigation matters as a mortgage and hard money lending expert witness. He is a member of the Board of Directors and the Education Committee of the California Mortgage Association. He holds a Level I and Level II Trustees Sale Officer Designation from the United Trustees Association. He’s also the originator and sponsor of the Phillip M. Adleson Education Award, for excellence in mortgage education. He can be reached at or at

This article is for general purposes only. No action, decision, or opinion should be in any way based on any of its content. Nothing in this article should be considered a standard of care or a standard for reasonable or accepted practices.

Joffrey Long
Southwest Bancorp
email us here

Source: EIN Presswire

CBD Product Companies Reporting Revenues releases a snapshot looking at the recently reported growth in CBD product sales and how this paints a more accurate picture of the CBD market

American Premium Water Corporation (Other OTC:HIPH)

POINT ROBERTS, WASHINGTON, UNITED STATES, August 21, 2019 / — CBD Product Companies Reporting Revenues (OTC: $HIPH) (OTC: $EDXC) (OTC: $CANN) (OTC: $MJNA)

Point Roberts WA, Delta, BC – August 21, 2019 –, a leading investor news resource covering hemp and cannabis stocks releases a snapshot looking at the recently reported growth in CBD product sales and how this is now painting a more accurate picture of the CBD market.

Read the full article on

American Premium Water Corporation (OTC: HIPH) recently announced that it has secured a contract through its UK subsidiary, which will generate over $833,000 of topline revenue. This is the largest contract for the Company to date, and puts the Company on a solid track to exceed its previously issued 2019 revenue guidance of $1 million.

American Premium Water Corporation CEO, Ryan Fishoff stated, “I’m happy to announce that the Company has secured its largest contract to date, adding over $833,000 in top line revenue. The Company is making strides towards becoming the market leader in premium CBD infused consumer products. We have been making incremental progress towards bringing our products to market and generating revenue; shareholders are beginning to see the fruits of management’s labors. There is still a lot of work to be done; the Company has an ambitious business plan that it is focused on executing. There is a lot of business in the pipeline that the Company is working on closing to generate more sales and form partnerships that will create long-term growth to the Company’s top and bottom line. I am headed to London this week to ensure that the Company completes the payment process for this contract so that we can add it to the 2nd quarter filings.”

The contract was executed in the 2nd quarter of 2019. The payment, which originated from the UK, had not settled at the time of filing deadline. After consulting with the Company’s retained accountants, it was determined that it would be in the Company’s best interests to file 2nd quarter financials to remain compliant with OTC Markets and the Company will amend the filing upon completion of the clearing process in accordance with Generally Accepted Accounting Principles (“GAAP”).

Mr. Fishoff continued, “Aside from work on this contract and the two-container order that we announced last week that should be shipping out next month to the UK, the Company has been focusing on Canyon Create, investing more capital and resources this quarter into expanding distribution of Vanexxe, which is currently available on This ground breaking product fulfills a need for an affordable and effective cosmetic treatment for unsightly varicose veins, which before its launch didn’t exist in the marketplace. The Company is also set to launch its Prickly Pear acne cream, which uses CBD and CBG as its activating agents. The Company feels this product has the potential to become a market leader relatively quickly. We’re excited for Canyon and the Company’s other initiatives that will be picking up steam in the 2nd half of the year. I look forward to keeping the investor and shareholder community informed as I am able to update everyone accordingly.”

As mentioned above, CBD is drawing in a lot of interest, including that of many more THC focused cannabis companies looking to ride the CBD wave. Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chain, recently announced that the Company has begun manufacturing operations under an industrial hemp processor license.

CBD Unlimited, Inc., formerly known as Endexx Corporation (OTC: EDXC), a provider of innovative phytonutrient-based food and nutritional products, recently reported year over year revenue growth for its third quarter of fiscal 2019. For the three months ended June 30, 2019, the Company generated over $335,000 in sales, which represents an increase of 52% year over year, and nine months year-to-date $1,252,880 a 108% increase.

General Cannabis Corp (OTC: CANN) also recently announced their financial results for the quarter ended June 30, 2019.

“We have surpassed $1 million in revenue for the fifth consecutive quarter, with a 34% increase in year-to-date revenue in 2019 compared to 2018,” said Brian Andrews, Chief Financial Officer of General Cannabis.

With more real-time sales and revenue data coming to the forefront each week, investors and consumers now have a better assessment of real CBD demand and sales and a more accurate picture of how the true CBD market is coming into focus. We can expect to see more sales data over the coming months, especially once the FDA does release clearer guidelines for the industry, expected later this year.

For investors following cannabis stocks, Investor Ideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX Marijuana/Hemp Stocks

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Dawn Van Zant
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Source: EIN Presswire