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Seller asking: $14,949.89 (72% of UPB)
Pricing may vary over time and is subject to Seller Approval
 

General Note Information
Product ID
0082520
Lien Position
1st Mortgage/Deed of Trust
Note Status
Non Performing
Note Type
Other
# of Payments Last 12 Months
2
Paid To
07/01/2017
Loan Maturity
09/01/2022
Property Type
Single Family Res
Original Balance
$26,500.00
Principal Balance
$20,763.74
Est. Market Value
$32,000.00
Payment Amount
$436.52
Note Rate
9.750%
Sold Rate
9.750%
Detailed Note Information below
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Detailed Note Information
  • Note Terms
  • Note Dates
  • Property Information
Lien Position: 1st Mortgage/Deed of Trust Amortization Type: Fully Amortized Loan Type: Conventional
Original Balance: $26,500.00 Current Balance: $20,763.74 PI: $436.52
Total Payment: $436.52 Note Rate: 9.750% Sold Rate: 9.750%
Total in Trust: 0 Unpaid Interest: $0.00
Late Charges is:
$0.00 after 15 days
Unpaid Charges: $0.00 Prepayment Penalty: No Rate Type: Fixed Rate
Balloon Payment: No Loan Terms Modified: No Registered w/MERS: No
On Forbearance Plan: No In Foreclosure: No In Bankruptcy: No



Seller Comments:
This note is currently non-performing. We originally acquired it through foreclosure, and resold it with seller financing to an investor who intended to rehab it and convert it to an AIRBNB type of property for nightly rentals. Could also make for a nice personal residence. It is in a good area of New Iberia, Louisiana, about 1/2 mile from the central business district, where a number of historic type homes have been fully renovated. This property genuinely has LOTS OF POTENTIAL, with about 3,000 square feet, 5 bedrooms, 3 baths, and 2 fire places. It sits on a large lot, with a new, quality fence. It's an old but sturdy house built in 1900, still with a good foundation and solid structure. The "After Repaired Value" could be well be $160,000 -$180,000. based on previous appraisal and realtor's estimates, although it will require extensive renovation to achieve that value. The borrowers ran into financial difficulties and did not complete the rehab. We have located a local property manager who thinks it could be flipped as is for at least $30,000 - $35000 to a local investor, if you wish to acquire the property but do not want to rehab it. Please contact us for more photos or info.
Origination Date: 09/11/2015
First Payment Date: 10/01/2015
Paid to Date: 07/01/2017
Next Due Date: 08/01/2017
Maturity Date: 09/01/2022
Last Payment Received: 08/31/2017
# of Payments Last 12: 2
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: 08/09/2016
Repayment Period Start Date: - - -
Current Index Name:
Margin: 0 %
Ceiling: 0 %
Floor: 0 %
Next Adjustment:
Adjustment Frequency: 0   Months

Properties

Property Type: Single Family Res LTV Ratio: 0.00
City: Rental County: Iberia Parish
Market Value: 0.00 Valuation Date: 01/01/2000

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