Mar 23 (edited) • Case Studies 📑
Stanhope, NJ - Non-Performing 2nd Mortgage Note (Full Payoff Case Study)
This non-performing second mortgage was purchased in February of 2026, in Stanhope, NJ on a single family home. This loan was purchased in a pool of 10 loans. The property is valued at $300k, with a current 1st mortgage of $168k. Shortly after the loan was purchased we had an attorney send out a legal demand letter. This was another good one, with a fast resolution.
The borrower reached out during the 30-day demand period and wanted to payoff the loan in full before the demand letter expired.
The 2nd mortgage unpaid principal loan balance purchased was $19,120.57, plus they owed us another $265.00 in lender recoverable expenses. The total 2nd mortgage payoff amount was $19,385.57. So there was plenty of equity in the deal covering our mortgage.
Here are the Deal Numbers:
- Purchase Price: $4,401.00
- Lawyer/Management Fees: $265.00 (Recoverable Expenses)
- Total Costs Paid: $4,666.00
2nd Mortgage Loan Payoff: $19,475.57 (included a $90 fee to record the mortgage release)
We’ll review your goals, deal criteria, and show you how to get deals like this done.
12
7 comments
Stanhope, NJ - Non-Performing 2nd Mortgage Note (Full Payoff Case Study)
skool.com/notes
Start (or scale!) your real estate portfolio with Skool's #1 mortgage note investing community.
Leaderboard (30-day)
1
+28
2
+15
3
+11
4
+10
5
+9
Powered by