Deal of the Week

Pot of Gold

The tale of our pot of gold

☘️ As St. Patrick’s Day draws near, we’re thrilled to bring you an exclusive opportunity to turn non-performing loans into golden investments, all thanks to our dedicated Asset Management Team!

Here’s the tale of our pot of gold:

⭐️ Actions: We acquired this non-performing loan in April 2023, at which point, the borrower was 11 months behind on payments. Attempts by the previous lender to contact the borrower went unanswered, but we successfully deployed our tried-and-true strategy to bring the borrower to the table.

We commenced legal action, setting a foreclosure sale date of October 2023. However, the borrower started down the rainbow path in September when they reached out to work with us and provided a Financial Hardship Application.

We responded as swiftly as a Leprechaun and offered a trial payment plan and loan modification upon successful completion of the trial payment plan. With a stroke of luck, the borrower agreed, leading to the cancellation of the foreclosure sale.

🤝🏼 Outcome: In December 2023, the borrower officially signed the Trial Payment Plan, which included a $3,000 down payment and a commitment to increased monthly payments of 6 months.

To date, the borrower has diligently made all payments from December 2023 to March 2024, totaling $5,400.

We have already achieved a 13% ROI and will further increase our return when we sell this asset as a performing loan in another 6-8 months.

Stats: Here’s a glimpse of our fortunate figures:

🌈 Total Amount Owed: $77,426
🌈 Past Due Amount: $7,500
🌈 Acquisition Price: $41,500
🌈 Property Value: $401,000
🌈 Non-Performing at Purchase

This St. Patrick’s Day Deal of the Week is a true pot of gold, showcasing our Asset Management Team’s expertise in transforming distressed assets into profitable investments.

☘️ Don’t miss your chance to join the celebration! Contact us today to learn more about this golden opportunity and make this St. Patrick’s Day one to remember.