Non-Performing Note - Near University of Chicago, IL; 39% LTV

[Kalonji Mitchell]

Our business has pivoted from originating loans to acquiring mortgage notes. We have identified some notes that are not within our acquisition criteria, and we intend to broker those instead. Below is one of these notes

Loan Overview:

- Loan Type: Non-Performing Loan

- Original Loan Amount: $42,500.00 from 12/1/2006

- Unpaid Principal Balance (UPB): $149,372.74

- Note Rate / Interest Rate: 12.50%

- Maturity Date: December 1, 2036

Current Status: Extreme delinquency (see notes below)

- Origination Date: December 1, 2006

Collateral Information:

- Property Type: Multifamily

- Location: Chicago, IL

- BPO: $378,000

- LTV (Loan-to-Value): 39.50%

- Occupancy Status: Tenant-occupied

Property Details: This solid 3-unit multifamily building is in Chicago’s vibrant Woodlawn neighborhood. Each spacious unit offers 2 bedrooms, appealing to the area’s strong rental demand fueled by its proximity to the University of Chicago, the future Obama Presidential Center, and rapid neighborhood revitalization. With average annual income of $59,400 and steady tenant interest, this property stands as a prime opportunity in one of Chicago’s most promising markets.

NOTE: The unpaid principal balance was originally a second-position mortgage, originated on December 1, 2006. However, the first-position mortgage has been satisfied, the second mortgage remains outstanding. Years of missed payments and accrued late fees have brought the total owed to $149,372.74. Although the owner is aware of the obligation, they are unwilling to pay the full amount. There are no other liens against the property.