Loan amount
$155,000
Loan type
As-Is Property Value
$175,000
LTV
89%
{LTV}
Property type
Single family home
Borrower Details
Credit score
654
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
New Jersey
Loan Details
Additional Loan Information
The current tax assessment value is $175,000. The appraisal came in at approximately 195,000. I can get an updated one if necessary. The mortgage is under my deceased father's name, he died with an insoluble account, that I am the executor of. The lien is through US bank serviced by Select Portfolio Servicing. I have been obviously unsuccessful in working with SPS. I have never been given assumption of loan. Foreclosure was originally filed in February 2016 and continuously adjourned, which resulted in over 40 hits of default on title, until it was cancelled on October 15th, 2019. This is my only and primary residence. I am looking to make a shortpay offer of $155,000 to SPS & US bank. Property located in Brick NJ. I'm planning on continuing to live here. Loan duration of 25- 30 years, with possible refinance to a conventional loan in 3-5 years. Also, I do have 5% to 10% to put down.
Status
Closed
Created
October 18, 2019 - 7:03pm
Hard Money Lenders Now Offering Real Estate Investor Loans in New Jersey Newark | Jersey City | Paterson | Elizabeth | Clifton | Trenton Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans