LOAN: #6973
SUBJECT PROPERTY: 1081 W. 9th St, San Bernardino, CA 92411
Single Family Residence, 3-bed/1-bath, 1025 sq ft, 1-car garage (see specifics below)
APPRAISED VALUE: $90,000.00 (Nov 2009 - view appraisal)

LOAN TERMS

Loan Amount: $49,500.00
Trust Deed Position: 1st
Interest: 11%
Term: 36 months
LTV: 55% of appraised value

There is a late charge of 10% of the payment (after 10 days).
There is no prepayment penalty on this loan.
This loan contains a balloon payment.

 

Specifics: Home was purchased as a short-sale in August 2008 for $107,000.00.  Property is owned free and clear; owner will be using funds for additional investments. Please note - enclosed patio has been illegally converted into living space, as has the 1-car garage. Home is currently being cleaned and repaired after recent renters left, and will be marketed for $1300 per mo rent.