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
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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