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Frequently Asked Questions
1. Who is SUNA Capital?
Suna Capital, LLC is a private investment company that specializes in investing defaulted residential mortgage notes nationwide. Suna Capital has experience in the acquisition, management and liquidation of mortgage notes.
2. What does Suna Capital do?
Suna Capital purchases discounted notes from big institutions at a sizable discounts. We share the purchase discount with the homeowner, we are able to create a payment workout and the note becomes a performing asset.
3. Why are notes discounted?
Banks do not have the personnel to attend to and process defaulted notes resulting from loans adjusting, natural disasters, fraudulent loans, unqualified buyers, housing price declines and personal catastrophic losses to the borrower. Banks are in the business of lending money and not interested in acquiring Real Estate properties. They can lend out approximately 10 times of a performing mortgage loan balance, all depends on the institutions financial strength. For example, a non-performing mortgage with a balance of $200,000 results in a lost revenue lending opportunity, in the amount of $2 Million loans. Due to the regulatory requirement, the economies prove that selling a non-performing asset at a discount today will reap far greater returns for bank than tomorrow by allowing the money back into loan circulation earlier than later. Further, the holding costs, fees, interest, attorney’s fees etc. will escalate the price.
4. Does Suna Capital foreclose on a HomeOwner?
Suna Capital will try not to foreclose on a homeowner. We try our best and work on each and every option available in keeping the homeowner’s best interest. When the homeowner goes underground and is not communicating with us to workout a amicable solution, we are left with no option but to foreclose on the property. However, foreclosure generally doesn’t help the homeowner nor our company. It is in the best interest of the homeowner to contact us at the earliest to stop foreclosure and workout a plan. Please contact our customer service department right away by Phone: 800 . 988 . 5267 or email us at help@sunacapital.com or customer@sunacapital.com .
5. How does Suna Capital liquidate the notes?
Suna Capital’s first rule of thumb is to work out a amicable plan with homeowner and design payment plan, terms that works best for the homeowner’s situation. The key is to engage the homeowner, build trust and keep their best interest at heart. We have found that many times there are short term circumstances such as health problems, job loss or divorce can prevent them from making full payments on their mortgage. We can work around homeowner’s present circumstances and work out a “win-win” plan to get back on their feet again. We create a custom made plan to solve homeowner’s issues with many options. To mention we have deep discount payoff, payment plan, reinstatement with discounts, credit score improvements to do refinance, seller assistance, deed-in-lieu of foreclosure etc.
6. Does Suna Capital buy First or Second liens?
Suna Capital buys both first and second mortgage notes. We buy both performing and non-performing mortgage notes at discounts. We offer deeper discounts to homeowners on second mortgage notes, since we buy them in larger volume. We believe larger volume and velocity of the note business helps us to pass on steep discounts to payoff the loan by a homeowner.
7. My specific question is not answered by Suna Capital, what to do?
Please email Suna Capital at customer@sunacapital.com or call us at 800-988 – 5267 to obtain answer to your specific question.
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