Deal of the Week

In the spirit of Mother’s Day tomorrow, a time to honor the dedication and care of mothers everywhere, we bring you a story from our “Deal of the Week” that reflects our commitment to work with our borrowers to achieve the best outcomes.

This Week’s Highlighted Asset

Asset Details:

• Total Amount Owed: $30,938
• Acquisition Price: $20,000
• Property Value: $75,000
• Status at Purchase: Performing

Navigating Life’s Changes

Acquired in October 2022, this asset was already performing well, with the borrower consistently making payments. However, after the unfortunate passing of her spouse, the borrower faced a significant change in her financial situation. Understanding her needs, she proactively reached out to request a change in the payment schedule from the 15th to the 25th of each month to better align with her new income flow.

Our Responsive Approach

Recognizing the importance of flexibility, our team worked quickly to accommodate her request. This small but significant adjustment helped the borrower avoid late charges and continue to make on-time payments while not impacting our bottom line and demonstrating our commitment to working with borrowers through unexpected events.

A Profitable Resolution

Our proactive and responsive approach not only sustained the asset’s performance but also enhanced its value. In February 2023, we successfully sold the performing loan for $27,500.

Financial Breakdown:

• All-In Costs: $20,380
• Total Payments Received: $1,200
• Total Profit: $8,320

Stay Tuned for More

This deal exemplifies how our strategic asset management can lead to robust returns while supporting our borrowers’ needs. It’s a testament to our focus on profitability and ethical investment practices.

We hope you have a great Mother’s Day tomorrow and can celebrate with your loved ones!