Deal Breakdown

1st Lien UPB of $73,911.48 + 3 years arrearages

$20,250 Purchase Price + Attorney Costs + Fees

$50,000 FMV per BPO

5 months to foreclose

We picked up this 3 bed, 1.0 bath, 925 sq ft note from a hedge fund. After unsuccessful loan modification discussions with the borrower, we initiated the foreclosure process. When the foreclosure auction process is completed this property will sell for approximately $33,250. The investment will yield an annualized 48.3% ROI within a 9 month time frame.