New 1st Mortgage Note available
Face Amount: $57,500
Note Buyer Rate: 15.0%
Terms: 13 months - Interest Only payments
Prepayment Penalty: 1% ($575) 1st 6 months
Taxes are escrowed/impounded - paid with monthly payments
Securing Property: Single Family Residence, 2 story colonial, 2,620 sq. ft., brick/wood, 4 bedrooms, 2.1 baths, fireplace, central air, 1,306 sq. ft. basement, 2 car detached garage, built in 1948, Detroit, MI, in the desirable Sherwood Forest subdivision.
Securing Property Total Value: $115,000 after-repair-value
Loan-To-Value: 50% on recent appraisal
Borrower brought in $17,697 cash to the closing, this is a purchase/rehab loan, funds are controlled for rehab.
Contact me for details and the appraisal for the "Warrington" Note, Trent@metro-mi.com.
* Please do NOT contact this lister about other services, products or commercial interests.
