The number of distressed residential and commercial properties falling into foreclosure has fallen significantly since 2009 but the reason is not necessarily a rosy real estate market. Original Post: http://www.bizjournals.com/columbus/blog/2013/01/foreclosure-drop-evidence-of-changing.html
Foreclosure drop evidence of changing strategies, expert says
About the Author: Rich Kruse
Richard F. Kruse is Managing Partner of Gryphon USA, Ltd. The company oversees a receivership & asset management group, a commercial auction business and, in conjunction with Borror Properties, a full service real estate advisory practice. Mr. Kruse’s engagements are primarily focused on complex state and federal level legal matters, foreclosure and insolvency. Since 1996, he has acted in the capacity of receiver, interim manager, asset purchaser, liquidating agent, equipment appraiser, broker, property manager and/or auctioneer in transactions throughout the United States, Mexico and Canada – all with combined asset values over $2 billion dollars. In 2003, Mr. Kruse began strategically focusing on regional projects and accepting receivership appointments throughout Ohio, and ever since, has operated and sold or wound-down over 250 corporate entities through negotiated sale and auction. Mr. Kruse routinely teaches seminars on distressed asset management and corporate wind down and is an instructor at The Ohio Auction School. He is frequently consulted as an industry expert by the Columbus Dispatch and Columbus Business First newspapers. In 2011, Mr. Kruse participated in drafting new local rules for receivership management in his home base of Franklin County, Ohio. Most recently, he has been active in promoting and drafting modified legislation language related to streamlining the foreclosure sale process in Ohio. Mr. Kruse is a member of the American Bankruptcy Institute and Turnaround Management Association, where he formerly sat on the board of the Ohio Chapter. He is a member of the National and Ohio Associations of Realtors, and National and Ohio Auctioneers Associations. Mr. Kruse was recognized as “One to Know” in Real Estate 2013 by Business First, and in October of 2013, he was appointed by Governor John Kasich to fill a vacancy on the Ohio Auctioneers Commission. His first full term on the Commission began in late 2014. Mr. Kruse acts as advisor on strategy and finance to political candidates in Central Ohio, and is a graduate of the 2006 Leadership Columbus Program. In his personal life, he is dedicated to causes like education, children and politics. He is an active volunteer, fundraiser and parishioner at CenterPoint Church Gahanna where he participates in many hospitality functions and youth program. When he’s not working, he enjoys traveling and cooking. Mr. Kruse and his wife, Melissa, have one daughter, Savannah, and live in a northern suburb of Columbus, Ohio.