Notes/REO for Sale

2219 Long Beach Avenue, Los Angeles, CA

 

 

Description of Property: This is a 5,000 square foot building sitting on 7,000 square feet of land.

Loan History: Loan started on 8/1/08. Maturity date is 7/1/2011

Status of Loan: Current

 

• Loan Amount: $555,000
• Annual Payment: $74,925
• Loan Interest Rate: 13.5% ARM
• Loan Term: 36 months.
• Property Value: $800,000.
• Estimated Loan to Value: 70%.
• Exit Strategy: Refinance or Sale.
• Description of borrower: Borrower is a local merchant in the garment and import export business.