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Seller asking: $13,288.79 (64% of UPB)
Pricing may vary over time and is subject to Seller Approval
 

General Note Information
Product ID
0082610
Lien Position
1st Mortgage/Deed of Trust
Note Status
Non Performing
Note Type
Other
# of Payments Last 12 Months
0
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
$30,000.00
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:
PRICE RECENTLY REDUCED. This is a large, historic home, located in New Iberia, LA, which is near Lafayette, LA, but nearer to the Gulf Coast. This note is currently non-performing. The borrowers tell me that they have ran into financial difficulties because of business reversals, and ceased making making payments in late 2017. We do not know if they can or will resume, but we have not pressed them yet with legal action, as we are reaching out to them on a deed in lieu or loan modification agreement. We originally acquired this home through a foreclosure, and resold it with seller-financing to current borrowers who intended to rehab it and convert it to a Bed and Breakfast.. It also has potential for AIRBNB or 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 wooded 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 ARV could be $170,000+ based on previous appraisal and realtor's estimates, although it will require extensive renovation to achieve that value. We have located a local property manager/realtor who thinks he could be sell it as is to a local rehabber for about $30,000 to $35000. However, he is waiting us to get title thru deed in lieu or foreclosure. 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: 09/01/2017
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: 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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