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At BP claim center, varying success for applicants

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Mortgage and Lending with Mortgage Solutions FCS DRE 02062657, NMLS 146016

At BP claim center, varying success for applicants

PENSACOLA, Fla. (AP) - July 12, 2010 - It is a tale of two claims.

In Gov. Charlie Crist's visit Friday to a BP claims processing center here, he heard from a business owner who was happy with the movement of her case, and one who tearfully said she'd received no help.

On the positive side, Katrina Mougey said she and her husband had already received about $11,000 from BP for losses at their two rental properties on Pensacola Beach, which are going empty because of cancellations.

"The phones went dead and the e-mails canceled," Mougey told Crist. "Everything just stopped."

Mougey said she's worried about the loss of value of the properties. But she said she was happy with BP's help so far, though it doesn't cover the total estimated losses of $40,000 to date.

"Just keep going," Crist said in his visit to the storefront claims office in a strip of businesses with a payday loan shop and a music store.

On the negative side, Crist heard from Alison Davenport, a real estate broker in Perdido Key who says she's lost $100,000 in commissions because business has dried up.

She hasn't received anything yet from BP and isn't convinced she will. Davenport was told that her case must be decided by Kenneth Feinberg, the administrator of the $20 billion escrow fund established to pay BP claims.

Davenport cried as Crist hugged her and she told her story.

"The power company and the phone company and the banks can only do so much for us," she said. "If BP can't help us, there'll be no business left."

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Christopher Shearer is a multi-family / commercial real estate consultant achieving property owners the highest possible NOI through the implementation of optimal rents for the property, accomplished through careful market, property, comparison grid analysis, effective cost control and revenue improvement programs; identify and analyze trends and recommending appropriate strategies to increase a properties maximum efficiency. Expert at Preparing new investment analysis presentations, offering memoranda and marketing materials, including key investment metrics. IRR, COC, DCR, CR etc.

A seasoned professional, with over 15 years' experience in real estate and finance management. A real estate broker licensed in Florida and Virginia specializing in real estate and asset management of multi-family and commercial properties. Christopher is currently pursuing his M.B.A. in real estate, he holds a B.A. in business as well as an A.A. in business management. Christopher has the following state licenses; Virginia Real Estate Broker, Florida Real Estate Broker, Florida Mortgage Broker and Colorado Mortgage Broker.

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