Performing 1st Lien Note For Sale - Partial Purchase
We are selling a few mortgage note partials to recapitalize and roll over funds for re-investment. The note below is for sale via a partial purchase.
- Current Balance: $54,765.30
- Last Payment Received: 3/21/17
- Next Payment Due: 4/1/17
- Payment Amount P&I: $412.54
- Remaining Payments: 285
- Escrows: None
- Lender Advances: $722.31 (For 2015 taxes)
Amount of payments for sale - Next 46 payments. (longer term available if desired)
Property Address:
1771 FORD BLVD, LINCOLN PARK, MI 48146
Background:
- Performing 1st position note covered in equity.
- Listed at 12% yield to investor.
- Home is single family, borrower owned since 1999. FMV $60,000 per recent BPO. Title is clean. Borrower pays on time. Original collateral including BPO, assignments & allonges in house and to be provided during due diligence period.
PLEASE NOTE: This is a partial purchase. This means you are purchasing full ownership of the note and mortgage, and collecting the next 46 payments only. After you have received the next 46 payments, or the equivalent amount owed, full ownership of note and mortgage, and all remaining payments revert to seller. This is outlined in detail in the purchase and sale agreement which will be reviewed prior to purchase.
If interest please contact me directly, thanks!