Deal of the Week

Navigating Financial Challenges: A Success Story

With a UPB of $53,997.92 and monthly payments trailing one month behind, a borrower took the bold step of entering a Trial Payment Plan.

Our team acquired this nonperforming loan for $35,500 in April 2023 through a valued broker relationship. The borrower, initially 18 months behind, responded to our proactive approach after reaching the complaint stage of foreclosure. They submitted a Financial Hardship Package in October 2023, signaling a commitment to resolution.

November marked a turning point as the borrower signed the Trial Payment Plan, marking the start of the TPP with a sizable downpayment. With plans to reinstate the loan fully by March 2024 by utilizing an annual bonus, this success story showcases the effectiveness of our strategic and collaborative efforts in navigating financial challenges.

Empowering Financial Futures Through Collaboration

This success story underscores our commitment to transforming challenges into opportunities. From acquisition to the borrower’s dedication to the Trial Payment Plan, it highlights the power of proactive measures in restoring financial health. Our approach emphasizes collaboration and dedication, demonstrating our commitment to empowering financial futures through practical solutions.

Resilience and Partnership: A Transformative Lesson

The borrower’s journey teaches us the resilience found in challenging financial situations. Through close broker relationships and assertive steps, our team paved the way for recovery. This case serves as a testament to the importance of partnerships, resilience, and strategic planning in navigating distressed loans and ultimately achieving positive outcomes for all parties involved.

Breakdown:

• UPB: $53,997.92
• Principal & Interest Monthly Payment: $578.60
• Status: Borrower was consistently paying one month behind Property
• Characteristics: 6 bedrooms, 3 bathrooms 3996 Living Sqft
• Fair Market Value of $482,000.00