Sept. 22, 2011, Sherman Oaks, CA — REO For Non Profit, a real estate collective of professional REO agents and the National Association of Hispanic Real Estate Professionals (NAHREP) co-hosted a fundraising event on September 17th, which generated more than $100,000 for Operation HOPE and the i.am.angel Foundation, two groups that also committed to assist two families facing foreclosure during the event.
Kicking off NAHREP’s 2011 Real Estate and Marketing Conference at L.A. Live, the event was attended by more than 500 agents, bankers, mortgage lenders and other industry professionals representing the foreclosure and REO sector, signifying an unprecedented effort by the REO, mortgage and financial communities to give back to their communities.
“We could not be more pleased with the caliber of financial and real estate professionals who turned out for this event and donated to our efforts to give back to our communities and make a direct impact on the lives of individuals who are facing foreclosure,” said Ben Salem, founder of Ben Salem Properties and the REO For Non Profit group. “We have set a high bar for ourselves with this event and will continue to work to increase the bar even further.”
The funds generated via live and silent auctions for this event will support Operation Hope, which provides financial education for struggling homeowners, and the i.am.angel Foundation founded by singer, songwriter and producer will.i.am of the sensational pop/hip-hop group The Black Eyed Peas. The i.am.angel Foundation, featured on the Oprah Winfrey show in 2010, provides financial assistance to struggling homeowners.
The Auction, supported by volunteers from Auction.com who agreed to host the gala event, provided opportunities for REO agents to bid on training and mentoring meetings with top-executives from Bank of America; CoreLogic; Green River Capital; Keystone Asset Management; LPS Asset Management Solutions; Matt Martin Real Estate Management; Nationstar; New Vista Asset Management; PEMCO, Ltd; Phoenix Asset Management; and Precision Asset Management.
During the event, two struggling families in attendance were awarded financial and educational assistance to help them overcome the setbacks that have put them at risk for losing their homes, marking one of the evening’s most emotional moments. The i.am.angel Foundation committed to providing financial assistance in the amount of $25,000 to each of the families, and Operation HOPE agreed to offer counseling and support to both families to help them regain financial stability.
“Helping to keep the dream of homeownership alive is our primary purpose and we are thrilled to have been given an opportunity to take fundraising to a new level and show that the REO sector is working to strengthen the communities we work and live in,” said Salem. “These two families will be given the tools and support needed to stabilize their finances and get their lives back on track.”
About REO For Nonprofit: REO For Nonprofit is dedicated to using the power of its member network to address issues of concern in all communities and assist nonprofit organizations and groups in order to help struggling homeowners.
About NAHREP: Founded in 1999, NAHREP is the largest minority trade group in the real estate industry with 17,000 members, 2,500 in the greater L.A. area alone. NAHREP’s core mission is to address issues that specifically involve the Hispanic homebuyer community, including the foreclosure crisis, which has severely affected the Hispanic and minority communities.
About Operation HOPE: Operation HOPE seeks to expand economic opportunity in underserved communities through economic education and empowerment. Since 1992, Operation HOPE has been improving the economic quality of life for individuals, families and communities.
About i.am.angel: The i.am.angel foundation was launched by will.i.am of the pop/hip-hop group The Black Eyed Peas and featured on the Oprah show in 2010. The mission of the i.am angel foundation is to address the foreclosure crisis head on and to help individuals and families remain in their homes.