For Sale: Non-Performing 2nd Lien In Holland, Michigan In Chapter 13
Christopher Winkler
![Christopher Winkler]()
Christopher Winkler
Helping small business owners increase their profits by an average of $5-10k per year by focusing on what are your best profit centers, and reducing excessive expenses.
Silverwood Capital, LLC - Series K owns this note, and have been monitoring it in Chapter 13 since we purchased it in 2016. At the time we purchased the loan, the value was determined to be about what they owed the first lien, $141,000.00, and we are listed as unsecured liens.
Online sources are now valuing the house closer to $195,000.00, which lets us go to foreclsoure if/when its dismissed and or rolls to Chapter 7.
The note is still valid, and the Trustee has already made one motion to dismiss last fall. There is still 3 years left on the Chapter 13.
Here are the numbers:
- FMV: $195,000.00
- UPB: $35,486.15
- Interest Rate: 12.99%
- Original Payment: $395.7
- Accrued Interest & Penalties: $47,399.66 (Interest accruing at $384.16 for 114 months plus penalties)
- Total Due: $82,886.11
Looking for highest and best offers.
Helping small business owners increase their profits by an average of $5-10k per year by focusing on what are your best profit centers, and reducing excessive expenses.
6 年The Trustee submitted for dismissal due to not performing, one step closer to foreclosing & still for sale.?