Quote from Bill on September 9, 2024, 10:37 amWhat is a Non-Performing Loan?
A loan that is in default or close to being in default. Many loans become non-performing after being in default for 3 months / 90 days, but this can depend on the original contract / note terms. The borrower hasn't made a mortgage payment in over 3 months / 90 days, the loan is now considered a non-performing loan.
- Mortgage Notes are also referred to as Paper or Loans
Other names for Non-Performing Mortgage Notes:
- Defaulted Notes / Paper / Loans
- Delinquent Notes / Paper / Loans
- Distressed Notes / Paper / Loans
- Bad Notes / Paper / Loans
What is a Non-Performing Loan?
A loan that is in default or close to being in default. Many loans become non-performing after being in default for 3 months / 90 days, but this can depend on the original contract / note terms. The borrower hasn't made a mortgage payment in over 3 months / 90 days, the loan is now considered a non-performing loan.
Other names for Non-Performing Mortgage Notes: