Non-Performing 2ndBLOOMFIELD, MI

AvailableN2USMI6703GL

NON-PERFORMINGSFRFULL EQUITY2ND LIEN

BLOOMFIELD, MI, 48301

Owner-Occupied · SFR

UPB$77,278.76

StatusNon-Performing

Borrower

Who

OccupancyOwner-Occupied

FICO817A

Senior Obligations

Senior Lien$462,455CUR

Taxes—UNK

Legal Status

BK / FCNone

Borrower LTV

LTV11%A

Property

TypeSFR

Equity Waterfall

Property Value$677,500

minus:

Taxes$0

Sr Lien(s)$462,455

equals:

AVAILABLE EQUITY$215,045

Subject UPB$77,278.76

EQUITY COVERAGE278.3%

FULL EQUITY

BorrowerProperty

100%50%100%

83%

✓Owner-occupied (motivated to keep home)

✗Severely delinquent (90+ days)

✓Full equity (borrower has stake)

✓Current on senior obligations

✓FICO 817 (may refinance)

⚠CRITICAL FLAGS1

Unknown Payment HistoryBorrower

YOUR DEAL

Purchase Price

Est. from NPL pricing

Target Yield

Investment Goal

Hold Period

EST. VALUE

$38,63950% of UPB

EquityFull Equity+20%

PaymentNon-Performing+5%

OccupancyOwner-Occupied+10%

LegalNon-Judicial+15%

Total50%

Deal Score

Very strong deal — favorable risk-reward profile

Risk Breakdown

Equity100

Borrower42

Market100

Timeline86

% of UPB50.0%A

LTV11.4%A

Equity$677,500A

ICTV6%A

Net Recovery$38,639.38A

State Intelligence: Michigan

ProcessNon-Judicial

Timeline2 - 3 Months

FC Cost$1,932

REO Cost$3,883

RedemptionUp to 12 Months

⚠ Redemption period: Up to 12 Months. 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 FlowC

ROI197%

Yield39.3%

Timeline60 mo

Success40%

Est. Profit$75,962

IRR33.5%

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 $672 ($40,348) + payoff $74,582 + arrears $0 - purchase $38,639.38 - holding $328

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

ForeclosureEither84% ROI · 9mo · 70%

+$32,332

Fix & Flip (Mod & Sell)Hybrid100% ROI · 6mo · 30%

+$38,428

Discounted Payoff (DPO)Lump Sum80% ROI · 3mo · 25%

+$30,747

Full PayoffLump Sum99% ROI · 4mo · 10%

+$38,420

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