Borrower needs to payoff existing 2nd and stave foreclosure. Has new tenants and states payments will be manageable going forward. Plenty of equity to refi or sell down the road.
$75,000 2nd at 26% LTV
9.49% Yield (10.99% note rate)
6 month prepay penalty term
3 year fixed interest only with a balloon
This process is to reserve your loan. Actual loan purchases will be conducted via bank transfer Dismiss