PRODUCTS
LM Funding Products
LM Funding Classic
- LM Funding pays the association up to 100% of the “Safe Harbor” amount
immediately. - LM Funding pays legal fees and costs to collect.
- Association retains recovered assessments and special assessments.
- LM Funding retains recovered interest and late fees.
Safe Harbor: The amount owed by the home owners’ bank after foreclosing and taking title. (The lessor of 12 months of assessments or 1% of the first mortgage.)
Complete Protection Plan
For associations without interest or late fees in their declaration, we can easily accommodate you with our customized deal. Here is how it works:
- LM Funding pays the association up to 100% of the “Safe Harbor” amount.
- LM Funding pays legal fees and costs.
- At the conclusion of the collection event, the legal fees/funding are recouped first. Every dollar after that is split between LM Funding and the Association.
Safe Harbor: The amount owed by the home owners’ bank after foreclosing and taking title. (The lessor of 12 months of assessments or 1% of the first mortgage.)
LM Funding Classic
For most of our clients, our deal is as simple as this:
- LM Funding pays the association up to 100% of the “Safe Harbor” amount
immediately. - LM Funding pays legal fees and costs to collect.
- Association retains recovered assessments and special assessments.
- LM Funding retains recovered interest and late fees.
Safe Harbor: The amount owed by the home owners’ bank after foreclosing and taking title. (The lessor of 12 months of assessments or 1% of the first mortgage.)
Complete Protection Plan
For associations without interest or late fees in their declaration, we can easily accommodate you with our customized deal. Here is how it works:
- LM Funding pays the association up to 100% of the “Safe Harbor” amount.
- LM Funding pays legal fees and costs.
- At the conclusion of the collection event, the legal fees/funding are recouped first. Every dollar after that is split between LM Funding and the Association.
Safe Harbor: The amount owed by the home owners’ bank after foreclosing and taking title. (The lessor of 12 months of assessments or 1% of the first mortgage.)