For

Montgomery, AL.

2 Bedroom, 1 Bath 1,250 SQ Feet

 

Broker Price Opinion:  $33,500           Unpaid Balance:  $35,161.43              Rate:  7%

Note Purchase Price:  $12,225.00       P&I Payment $248.82                         Tardiness:  90+ days

 

Exit Strategies

Reinstate the loan                                                   Foreclose

Cost:  $45 month servicing fee                                   Legal fees:  $5,000

Misc costs:  $2,000                                                      Misc costs:  2,000

Projected Gross Profit:  $27,191                               Minor repairs (trashout):  $1,500

ROI:  24%                                                                     Projected Gross Profit:  $12,275.00

Duration:   16 months                                               Annual Cash on Cash Return:  169%

Duration:  6 months

 

The loan is 4 months delinquent. 

After we transfer the loan to our servicer (our collection company), we will begin our loss mitigation process and attempt to get the borrower on a repayment schedule.  We use several different strategies to help the borrower get back on their feet.  Once we receive the mortgage file, we begin the foreclosure process just in case we are not able to work out a repayment schedule.

Joint venture partner is to fund this deal with $20,500 and will receive 50% of the profits.

 

**Estimates are not a guaranteed return.  All investments have the risk of losing some or all of the funds.  Every note deal has unique characteristics.**

 

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Deal Highlights
Area
1250 ft2
Bedrooms
2
Bathrooms
1
Amenities.

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