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Defaulted First lien at 37% Current Market Value/17% of ARV

From: Scott C.
Sent on: Tuesday, December 29, 2009 1:16 PM

I have a defaulted first lien for sale on a Phoenix property that is need of some repair.    The property was in a rehab and the homeowners have run out of funds.  Current comps on the property show an as is value of $40-50K with an after repair value of $80-90K.  This first lien can be yours for a cash price of $15K.   The home does need some major work but is still a deal for days at these numbers. 

 

Current Unpaid Balance of $127,000

Banks BPO came in at $22K in 8/2009

Defaulted by 210 days/7 months

Note rate is currently at 9.63%

Property address is 1926 W Holly, Phoenix, AZ

 

The property is vacant and the homeowners are Spanish speakers.  You can either foreclose on the property, deed in lieu, or do a loan modification to the home owners.  I have a copy of the current Deed of Trust and updated Title Policy for your review.

 

If you are interested, please contact me directly at [masked] or at [address removed].

 

Yours in Success,

 

Scott Carson

Inverse Investments, LLC

Turning Problem Properties Into Profitable Solutions

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