How Much Is This Note Worth? Manufactured, Real Property
Anyone know how much this note would fetch on the market and the best place to shop this note around?
Year 2000 3br, 2bath Manufactured home attached to .11acres of land as part of real property in Texas. Quickly growing neighborhood.
Loan terms:
72,000 loan amount. 30 year fixed. 10% interest rate.
Buyer credit: 640
Seasoned: 1 month
LTV: 95%
Did I leave anything out? Also, would a 2 or 5 year balloon command a different price than a 30yr? Anyways to structure it to raise the value of the note? Also, is there a list of note buyers to get bids for this note.
would be glad to get you an offer for this note. A balloon sometimes is not a good ideal. it all depends on the investor buying. first of all it is a high LTV I have one investor that will look at this as a stick built home because of the year, the range would be about 85 to 98% depending on all factors? it needs a little more seasoning but send me a pm and we can discuss this in more detail. Williamf
Get the note reworked into 2 notes for the same amount of dollars and payment total
note 1 50000 30 yr fixed 10 percent $438.79
note 2 12000 30 yr fixed 10 percent $105.31 or
redo the 2nd note to 12000 10 yr 10 percent $158.58 would make a more desirable note on the second
2nd
24% discount PV is $7,192.50
18% discount PV is $8,800.99
1st
18% discount on 1st PV is $29,114.86
14% discount on 1st PV is $37,032.34
The1st will be a better deal for selling with at least 6 months seasoning
Balloons reduce note value leave them off if possible.
simul;taneous closing comes to ming.
You sell the property and take the proceeds from the mortage to buy the note from the bank.
Why would the bank accept your offer??? They know the FMV of the house.
Willis,
Moderating on this board for quite a few years, every once in a while a poster comes on with a new scam I have not seen before or variation thereof some of the old ones such as yours.
I noticed you spammed the Commercial side with your request also. At first my thoughts were just to delete your post, however thought it might be interesting to see how many members are going to add you to their credit card.
Everyone ready to jump on this bandwagon?
John $Cash$ Locke
[addsig]
check out orchard bank...they offer both secured and unsecured credit cards...from what i understand, they will give an unsecured card to just about anyone and the card has a $300 limit. good luck.