$35,000 1st TD 2 year note; First payment due May 25, 2007, interest only payment $350/ mo. @ 12% interest. Note runs through April 25, 2009. Property payment has been late but has recently been brought back up to date. Property located in Arnold, is .75 ac in a subdivision with homes on both sides of it lots in the area are selling for $135,000, will need to get a good estimate of sales in the area in 2008. Loan to value ratio 26%.
$50,000 1st TD eight month note; Payments started August 30, 2007, interest only $520.83/mo. @ 12.5% interest. Note runs through August 30, 2008, discussions have already been made to extend the note and raise the interest rate to assist the borrower. Property is a commercial warehouse metal building located in Arnold, has four rental units in the building and encompasses approximately .5 ac. Estimated value is $235,000. Loan to value ratio 21%.
$16,625 new 2nd TD 7 year note; first payment due Feb. 15th, interest only payment $204.35/mo. @14.75% interest. This is a 2nd TD with a first of $176,000 6.8% interest $1,1154/mo. payment. Total loans on property $192,625. Property has two houses on it estimated value of property $310,000. One house is now advertised for rent for $750. Property was just pulled out of foreclosure. It’s a historical residence, Rock House on main street in Mokolumne Hill. Loan to value ratio 62%.
