Non-Performing 2ndFREMONT, CA

AvailableN2USCA8709LE

NON-PERFORMINGSFRFULL EQUITY2ND LIEN

FREMONT, CA, 94539

Tenant-Occupied · SFR

UPB$175,131.82

StatusNon-Performing

Borrower

Who

OccupancyTenant-Occupied

FICO817A

Senior Obligations

Senior Lien$454,020CUR

Taxes—UNK

Legal Status

BK / FCNone

Borrower LTV

LTV11%A

Property

TypeSFR

Equity Waterfall

Property Value$1,630,000

minus:

Taxes$0

Sr Lien(s)$454,020

equals:

AVAILABLE EQUITY$1,175,980

Subject UPB$175,131.82

EQUITY COVERAGE671.5%

FULL EQUITY

BorrowerProperty

100%50%100%

68%

✗Tenant-occupied (less borrower attachment)

✗Severely delinquent (90+ days)

✓Full equity (borrower has stake)

✓Current on senior obligations

✓FICO 817 (may refinance)

⚠CRITICAL FLAGS2

Potential SOLLegal

Unknown Payment HistoryBorrower

YOUR DEAL

Purchase Price

Est. from NPL pricing

Target Yield

Investment Goal

Hold Period

EST. VALUE

$78,80945% of UPB

EquityFull Equity+20%

PaymentNon-Performing+5%

OccupancyTenant-Occupied+5%

LegalNon-Judicial+15%

Total45%

Deal Score

Very strong deal — favorable risk-reward profile

Risk Breakdown

Equity100

Borrower42

Market94

Timeline82

% of UPB45.0%A

LTV10.7%A

Equity$1,630,000A

ICTV5%A

Net Recovery$96,322.501A

State Intelligence: California

ProcessNon-Judicial

Timeline3 - 5 Months

FC Cost$2,140

REO Cost$4,650

RedemptionNot Likely

⚠ Redemption period: Not Likely. Borrower may reclaim property after sale.

Exit Strategies

Strategy projections are estimates based on market data and historical outcomes. Consult qualified legal and financial advisors before making investment decisions.

★ Loan ModificationCash FlowA

ROI230%

Yield45.9%

Timeline60 mo

Success40%

Est. Profit$180,979

IRR37.9%

Why it works

Borrower keeps their home; investor receives 5 years of cash flow plus full payoff of remaining balance.

Key risk

Re-default risk is meaningful; borrower may stop paying again within 12 months.

Calculation

60 payments of $1,524 ($91,439) + payoff $169,019 + arrears $0 - purchase $78,809.319 - holding $670

Action Plan

1Contact borrower to discuss modification options

2Evaluate borrower's income and ability to pay

3Structure modified terms (30-year amortization at 9.9%)

4Execute modification agreement

5Monitor payments for 3-6 months to confirm re-performance

6Collect payments for 60 months, then borrower pays off remaining balance

ForeclosureEither112% ROI · 10mo · 70%

+$88,416

Fix & Flip (Mod & Sell)Hybrid122% ROI · 6mo · 30%

+$95,917

Discounted Payoff (DPO)Lump Sum100% ROI · 3mo · 25%

+$78,474

Full PayoffLump Sum122% ROI · 4mo · 10%

+$95,876

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