Business
LIG Assets, Inc. Activates New Single Family Home Purchases and Restructures to Reduce Expenses
LIG Assets, Inc. Activates New Single Family Home Purchases and Restructures to Reduce Expenses.
About this update from Lig Assets, Inc.
[{"type":"text","content":"\n\n\n\nLIG Assets, Inc. Activates New Single Family Home Purchases and Restructures to Reduce Expenses\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nLIG Assets, Inc. Activates New Single Family Home Purchases and Restructures to Reduce Expenses\nPR Newswire\nDALLAS, Dec. 10, 2013\n\n\n\nDALLAS, Dec. 10, 2013 /PRNewswire/ -- LIG Assets, Inc. (OTCPK: LIGA), a Company focused on residential and commercial real estate, announces that it has activated new asset based lending agreements and initiated purchases of single family homes in Texas.  LIGA has begun to remodel or upgrade homes purchased at a discount to market in an effort to sell or lease at a profit or positive cash flow.  This business proved successful to LIG Assets for years before its focus was displaced by business opportunities less focused on real estate. \n\nSince adding a qualified CFO in August, LIG Assets is taking a focused approach to eliminate low probability commercial real estate deals, reduce unnecessary spending, incentivize revenue production, clean up its balance sheet, prepare timely financial reports, and focus on transactions that will generate strong profits.  Management is constructively moving ahead to turn around LIG Assets and provide steady growth on behalf of its loyal shareholders.\n\nLast month, LIG Assets announced a reduction in its primary lender's mortgage balance to facilitate the process of refinancing the residential mortgage to obtain a lower rate.  This balance for the older portfolio of single family homes was reduced to $14,094,000, and it is estimated that the current market value of that portfolio is over $20 million.  LIG Assets remains hopeful that it will successfully refinance all or part of this residential mortgage portfolio to obtain a lower rate and generate a positive cash flow.\n\nAs of today, management plans to communicate its developments and progress through press releases more actively.\n\nAbout LIG Assets, Inc.\n\nLIG Assets, Inc., based in Dallas, TX, is a Company focused on residential and commercial real estate.  Th...