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Seller asking: $402,831.74 (79% of UPB)
Pricing may vary over time and is subject to Seller Approval
 

General Note Information
Product ID
0071732
Lien Position
2nd Mortgage/Deed of Trust
Note Status
Performing
Note Type
Conventional
# of Payments Last 12 Months
0
Paid To
03/02/2018
Loan Maturity
03/02/2018
Property Type
Single Family Res
Original Balance
$509,913.60
Principal Balance
$509,913.60
Est. Market Value
$1,400,000.00
Payment Amount
$0.00
Note Rate
20.000%
Sold Rate
20.000%
Detailed Note Information below
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Detailed Note Information
  • Note Terms
  • Note Dates
  • Senior Lien
Lien Position: 2nd Mortgage/Deed of Trust Amortization Type: Interest Only Loan Type: Conventional
Original Balance: $509,913.60 Current Balance: $509,913.60 PI: $0.00
Total Payment: $0.00 Note Rate: 20.000% Sold Rate: 20.000%
Total in Trust: 0 Unpaid Interest: $84,985.60
Late Charges is:
5.00% after 365 days
Unpaid Charges: $0.00 Prepayment Penalty: No Rate Type: GTM
Balloon Payment: Yes Loan Terms Modified: No Registered w/MERS: No
On Forbearance Plan: No In Foreclosure: No In Bankruptcy: No



Seller Comments:
This home is actually a tear down to new construction property. When finished, it will be 3,150 sq ft, 2 stories, 5 bedrooms, and 4 1/2 baths. It's in a coveted part of West Los Angeles called Mar Vista. A new home of this size will sell for approx $2.8M. The real estate developer has a first loan with Trilion Capital for $1,330,000; however, this is broken into 2 parts: 1) $930,000 is towards the original acquisition and 2) $400,000 towards construction related expenses; however, not a single dollar had been drawn from that hold back. Only the $930k is needed to be repaid first. The borrower pays interest only ever monthly at $11,083.33 per month to Trillion Capital. We have the 2nd at $509,913.60 which is due before March 2nd, 2018 (just a few short months away). The Note secured by the Deed of Trust stipulates that it grows to $531,160 after March 2nd, 2018. I'm looking to sell this at a nice discount...my original $400k. This could be a nice, quick payday in a short period of time. $110,000 @ 20% or 131,000 @ 25% (if paid after March 2nd, 2018)!!!
Origination Date: 03/02/2017
First Payment Date: 03/02/2018
Paid to Date: 03/02/2018
Next Due Date: 03/02/2018
Maturity Date: 03/02/2018
Last Payment Received: - - -
Note Payment Amount: $0.00
Tax Portion: $0.00
Insurance Portion: $0.00
Trust Balance: $0.00
1st Trust

Lien Position: 1st Trust Deed/Mortgage Principal Balance: $ 930,000.00
Monthly Payment: $ 11,083.33 Modified: Unknown
Current: Yes Information as of: 10/03/2017


2nd Trust

Lien Position: 2nd Trust Deed/Mortgage Principal Balance: $ 0.00
Monthly Payment: $ 0.00 Modified: Unknown
Current: Unknown Information as of: - - -
BK Discharge Date: - - -
BK Chapter: None
BK Dismissal Date: - - -
BK Filing Date: - - -
Date Opened: - - -
Schedule Sale Date: - - -
Draw Period Start Date: - - -
Repayment Period Start Date: - - -
Current Index Name:
Margin: - - - %
Ceiling: - - - %
Floor: - - - %
Next Adjustment:
Adjustment Frequency: 0   Months

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