Scott Schwartz, executive vice president today announced the formation of the Woodbridge Structured Funding, LLC Annuity "Cash Out" division. This division will specialize in helping consumers get cash for annuity payments which they might have purchased in better times, not knowing they might need access to these long term investments. Schwartz states, " During these difficult times it has become impossible for consumers to raise cash using methods they have employed in the past. Mortgage refinancing, home equity loans, small business loans as well as cash advances on credit cards are all close to impossible to use as methods to raise cash leaving consumers no choice but to sell hard assets."
Schwartz continued, " We are finding more and more consumers who have purchased long term annuities who need the money now and are looking to sell annuity. When they purchased the annuity they did not know that their other sources of borrowing would no longer exist. Woodbridge has found a growing market for consumers looking to get cash from selling annuity payments, structured settlements, and other asset backed investments."
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