From the time Zeco Auriemo Neto joined his father’s real estate business, he has helped in the consistent growth of the company in one way or the other. He is also the founder of Parkbem, which is a well-known parking lot management firm in Brazil. It continues to be the profitable arm of the company and operates till the date. Zeco Auriemo is also responsible for managing many shopping malls that the company has constructed and developed over the years, which includes Bela Vista, Cidade Jardim, Metro Turucuvi, and Ponta Negra. These shopping malls are amongst the best in the country and have gained a considerable reputation in the retail sector in Brazil. Not just the tourists, but also the locals enjoy spending tie at these shopping malls, most of which remain buzzing with people throughout the week.
Zeco Auriemo Neto is an alumnus of the FAAP University based in Sao Paulo. After the completion of his studies, he joined JHSF Inc as a regular executive and worked his way up for the next ten years while trying to understand the real estate business intricately. In 2003, Zeco Auriemo was appointed as the CEO of the company, and he has helped in carrying forward the legacy of JHSF Inc through the many premium real estate development projects that he has undertaken and overseen over the years. It has helped the company grow nationally as well as internationally. He is not afraid to take risks and ensures that he plans all his moves so that there is no risk.
If you are looking for a company in the real estate sector of Brazil that you can trust in terms of quality, consistency, and customer service, rest assured JHSF Inc would not disappoint you. Zeco Auriemo makes it a point to visit the construction site regularly to ensure that everything is done orderly while maintaining high standards. José Auriemo Neto is also exploring other avenues of the real estate industry other than residential and commercial projects. He feels that Brazil is ready for other things as well, and he wants to be the first one to provide it.
As a Managing Director for Fortress, and a history in global mortgages, Michael Nierenberg has a few insights about mortgages and foreclosures.
When a property is forcefully sold off, investors and borrowers have to consider how to move forward. According to Neirenberg, no side benefits during foreclosure. Since the housing crisis in 2007, about 4% of all Us properties have been subjected for foreclosures. It’s since returned to pre-crisis levels, but challenges remain the same.
Investors can lose half their investment during foreclosures, so many opt for loan modification. But that process can be complicated further.
Depending on the state, Michael Nierenberg says the courts can prolong the foreclosure process. Rather than settle delinquent accounts, these states drag it out through the courts, which leads to higher rates of foreclosures.
Once the process is complete, investors may have trouble selling those properties. Michael Nierenberg notes that foreclosure auctions seek to cover outstanding debt and legal costs. If that minimum price can’t be met, the investor takes ownership. If investors reclaim too many properties in a given location, it can affect property values and hike up or drop rent prices.
When banks have to decide on foreclosures, they tend to want asset sales to settle delinquencies, rather than try to collect like mortgage service companies would. This involves more risk, Michael Nierenberg, points out, but it may hasten the process.
For Micheal Nierenberg, no one comes out of a foreclosure as a winner. Foreclosure avoidance is something companies like New Residential Investment Corp. are choosing to get loans to re-perform, and it’s given them a 20% return on equity in this current housing market. Click here to learn more