Reperforming 2nd Mortgage, Secured by Home in Hollywood Florida. Would like to sell part of this note.
Note for sale, secured by single family home Hollywood Florida. Note was acquired as a non-performing note and brought current and modified 09/2014. Borrower was on fixed income with any debts, not much to work with. However Borrower has since completed Chapter 7 Bankruptcy, never missing a payment, and has reduced her debt considerably. At Modification we deferred $40,525.55 in Principle that is not being paid on or charged interest as well as $4,934.65 in arrears that were deferred. Both are due at maturity. Asset estimate of value $193,000 per borrower on Bankruptcy Filing.
Asset: Performing Note
Lien Position: 2nd Position
Location: Hollywood Florida
House Value: Estimated $193,000
Sr Lien Status: Current as of January 2016
Sr Lien Balance: $97,247 per BK Filing in January
Original Balance: $50,000 (at modification)
Interest Rate: 1 %
Amortized: 420 Months
Payments Remaining: 396
Monthly Payment: $141.14
Unpaid Principle Balance: $47,589.55
Deferred Principle: $40,525.55 due at maturity
Deferred Arrears: $4,934.65 due at maturity
Note Matures: 08/01/2049
If the borrower were to pay this loan off tomorrow, the total due would be $93,049.75.
Will Sell Partial on this Note
120 Payments: $9,837.73
180 Payments: $11,760.26
240 Payments: $12,818.51