1st Lien UPB of $60,725
$6,950 purchase price + $7,300 delinquent taxes + Attorney Costs + Fees
$42.5k FMV per BPO
12 months to foreclose
Purchased a NPN on a SFH in Dayton, OH at 39% of unpaid balance (UPB). The property is a 3 bedroom, 1.5 Bath, 1,560 sq. ft. home built in 1958. The property is near Wright-Patterson AFB so a strong rental community and great investment opportunity. The borrower is in denial about paying – has a lot of outstanding taxes, so most likely exit will be foreclosure, but we will push strongly for a deed-in-lieu. The timeline for this investment is expected to be 12 months, yielding 21% ROI to our partner.