Performing note gets you a 12.3% Cash on Cash return

[Don DeMarco]

This is a Single Family Home located at 21590 Benton Street Thompsonville, IL 62890. Property has 3 bedrooms, 1 bath and is in Franklin County.

Homeowners have owned this house since 1998 and want to stay, they fell behind on their payments due to getting laid off of work and unable to find a new job. They are back to work now and payments have been on time every month.

Pick up this performing note and get a 12.3% cash on cash return. Modification was completed and Homeowner has been paying on time since February 1, 2015 (12 mo.)

FMV of Property is estimated at 30,000
Zillow Value $58,460
The UPB is $24,518 (new Mod amount)
Current Interest Rate 9.95%
1st Lien position
Loan Term 30 yr fixed
Months left in term 348
Monthly payment: 214.27
Property Taxes $570 yr
Property is occupied by homeowner
Original Purchase date 9/27/04
Next payment due date is 2/1/16
Purchase this performing note and get a 12.3% cash on cash return.

This Asset selling for $20,840