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Seller asking: $60,000.00 (100% of UPB)
Pricing may vary over time and is subject to Seller Approval
 

General Note Information
Product ID
0071571
Lien Position
1st Mortgage/Deed of Trust
Note Status
Performing
Note Type
Other
# of Payments Last 12 Months
0
Paid To
08/01/2017
Loan Maturity
06/30/2018
Property Type
Single Family Res
Original Balance
$60,000.00
Principal Balance
$60,000.00
Est. Market Value
$85,000.00
Payment Amount
$625.00
Note Rate
12.500%
Sold Rate
12.500%
Detailed Note Information below
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Detailed Note Information
  • Note Terms
  • Note Dates
Lien Position: 1st Mortgage/Deed of Trust Amortization Type: Interest Only Loan Type: Conventional
Original Balance: $60,000.00 Current Balance: $60,000.00 PI: $0.00
Total Payment: $625.00 Note Rate: 12.500% Sold Rate: 12.500%
Total in Trust: - - - Unpaid Interest: $625.00
Late Charges is:
10.00% after 10 days
Unpaid Charges: $0.00 Prepayment Penalty: No Rate Type: Fixed Rate
Balloon Payment: Yes Loan Terms Modified: No Registered w/MERS: No
On Forbearance Plan: No In Foreclosure: No In Bankruptcy: No



Seller Comments:
Sponsor has very low personal debt with only a low balance loan on his primary residence. He owns another rental property free and clear and has managed it for over 10 years as a landlord in Central Florida. Sponsor plans to remodel this property after the tenant moves out and refinance this bridge loan into long term financing with StoneBridge Capital Group. His refinance was pre-approved prior to the closing of this bridge loan, but is contingent on client finishing the remodel. Remodel plan is for $15,000 paid for out of pocket by the borrower. Plans are to update the kitchen, bathrooms, paint the interior and exterior, update all plumbing and electrical fixtures, and landscape the exterior. While the tenant is still living inside the property the borrower is beginning the exterior improvements. Tenant moves out in December and I believe is currently paying $1000 per month, which more than covers the expense of the loan + taxes and insurance.
Origination Date: 06/15/2017
First Payment Date: - - -
Paid to Date: 08/01/2017
Next Due Date: 08/01/2017
Maturity Date: 06/30/2018
Last Payment Received: 06/15/2017
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: $ 0.00
Monthly Payment: $ 0.00 Modified: Unknown
Current: Unknown Information as of: - - -


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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