FIRST LIEN TRUST DEED OPPORTUNITY IN MEMPHIS, TN

LOAN TO FUND

LOAN AMOUNT: $88,500.00

APPRAISED VALUE: $177,300.00

LOAN TO VALUE: 49%

RATE: 12%

TERM: 9 MONTHS

PREPAYMENT PENALTY: YES

SINGLE FAMILY RESIDENTIAL

4921 HWY 61 S, MEMPHIS, TN 38109

LIVING AREA: 4184 SQ FEET

BEDROOMS: 4

BATHROOMS: 2

YEAR BUILT: 1957

LOT SIZE: 7.24 ACRES

OWNER OCCUPANT PURCHASER WILL BEGIN THE FHA REVERSE MORTGAGE REFINANCING PROCESS 6 MONTHS AFTER CLOSING, IN ORDER TO ALLOW FOR THE TITLE TO BE SEASONED FOR 6 MONTHS WHICH IS AN FHA REVERSE MORTGAGE REQUIREMENT. CREDIT AND INCOME IS NOT A FACTOR FOR THE FHA REVERSE MORTGAGE APPROVAL. THE BORROWER IS 62 YEARS OLD, WHICH IS A REVERSE MORTGAGE REQUIREMENT. IT WILL TAKE APPROXIMATELY 30 TO 60 DAYS AFTER THE REVERSE MORTGAGE LOAN APPLICATION HAS BEEN SUBMITTED BEFORE THE CLOSING WILL TAKE PLACE THAT WILL ALLOW FOR THE "FIRST TRUST DEED" TO BE PAID OFF IN FULL.