Distressed Real Estate Consulting Services, Inc. is a Florida corporation located in historic Pensacola, Florida officially designated as "America’s First Settlement." DRECS was formed in 2007 to provide specialized niche servicing operations for three distinct client populations.
DRECS is engaged in the business of providing complete end-to-end or turnkey servicing functions to funds that have selected real estate tax certificates as alternative investment products. Real estate tax certificates are also referred to as tax receivables, tax liens, tax lien certificates, and certificates of purchase to list a few. The overarching quality these instruments share is a superior lien position. These liens arise and are sold as a result of unpaid real estate tax bills issued by local government taxing authorities across the United States. Current estimates place the dollar amount of delinquent taxes sold annually via live outcry, bulk sale, and internet auctions between $10-12 billion. Real estate tax liens may accurately be described as short term, low risk, moderate to high yield, well collateralized debt receivables. Interest rates are established by state statute as is the tax foreclosure process.
Distressed Real Estate Consulting Services, Inc. is a full-line OREO/REO default services management company dedicated to the preservation, loss mitigation and ultimate liquidity of our clients’ mortgage foreclosure properties. These services include:
Distressed Real Estate Consulting Services, Inc. provides management advisory services to local governments (township, municipality, county and metropolitan consolidated) on a wide range of ad valorem real estate taxation issues to best serve the infrastructure funding requirements for the community and its citizens.