Loan Details

(N/A) 6/6/14 6/1/16 Residential (Commercial Use - Rentals) $365,000.00 USD 12 Months 8% 844-742-9900 ext. 710

New York Properties (3)

Total Loan Amount Total ROI (%) Length of Investment
$365,000.00 13% 24 Months

Northern Westchester County, NY rental entrepreneurs were seeking financing for the completion of rehab work on three of their rental properties. BLG was able to pair them with an investor who also owned a portfolio of rental properties. That pairing allowed for the borrower and investor to reach an agreement regarding rate and terms.

When the loan went into Default, the investor had the foresight to wait for the borrower to attempt completion a slow-moving refinance application. The investor charged the Default Rate of interest – but deferred payment of that interest (and / or the commencement of a foreclosure action) for a reasonable period of time while the borrower worked on their new mortgage.

When the investor was forced to commence the foreclosure action, the borrower sought out alternate financing and was able to Close on their new loan before the foreclosure process went too far.

Ultimately, when Default Interest, extension fees and fee income from payment of various property-related expenses was computed – the investor realized a net ROI in excess of 13% over the 2-year period.

27 Regina Street

Mohegan Lake, NY
Property Value
$175,000.00 (as completed)

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60 Parsonage Street

Cold Spring, NY
Property Value
$550,000.00 (as completed)

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1034 Howard Street

Peekskill, NY
Property Value
$175,000.00 (as completed)

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