Phil Humphrey’s Current Projects
Goal for all projects – Get the loan performing again with a possible loan modification through a forbearance agreement. Sell the loan to another investor or investment firm after 12 months of consistent payments.
Alternative – Work with the borrower to complete a Short Sale or Deed in Lieu. Clean up property and sell.
Last Resort – Eviction, property clean-up, and sale.
Dayton, OH – Non-Performing Note
Single family home – 1,810 SF, 4 Bed, 3 Bath
Owner-occupied
BPO = $128,000
UPB = $171,391
Monthly P&I = $1,596
Unpaid property taxes due = $2,864
UPDATE – Loan has been funded and is in process of being boarded.
Muskegon, MI – Non-Performing CFD
Single family home – 1,326 SF, 2 Bed, 1 Bath
Owner-occupied
BPO = $42,000
UPB = $36,397
Monthly P&I = $319
Unpaid property taxes due = Unknown
UPDATE – Loan has been funded and boarded.
Akron, OH – Non-Performing CFD
Single family home – 1,732 SF, 5 Bed, 3 Bath
Owner-occupied
BPO = $43,000
UPB = $31,448
Monthly P&I = $276
Unpaid property taxes due = Unknown
UPDATE – Loan has been funded and boarded.
Winter Haven, FL – Non-Performing CFD
Single family home – 957 SF, 3 Bed, 1 Bath
Owner-occupied
BPO = $43,000
UPB = $37,376
Monthly P&I = $403
Unpaid property taxes due = Unknown
UPDATE – Loan has been boarded and paperwork is being transferred.
Pontiac, MI – Non-Performing CFD
Single family home – 819 SF, 3 Bed, 1 Bath
Owner-occupied
BPO = $37,350
UPB = $30,549
Monthly P&I = $250
Unpaid property taxes due = $916
UPDATE – Loan has been boarded and borrower is being contacted to determine best path forward.
Dayton, OH – Non-Performing CFD
Single family home – 1,410 SF, 3 Bed, 1 Bath
Owner-occupied
BPO = $60,000
UPB = $30,542
Monthly P&I = $400
Unpaid property taxes due = $1,253
UPDATE – Borrower signed a forbearance agreement and paid the down payment to begin the trial payment plan. Great progress!
Toledo, OH – Non-Performing CFD
Single family home – 1,843 SF, 3 Bed, 2 Bath
Owner-occupied
BPO = $50,000
UPB = $31,422
Monthly P&I = $300
Unpaid property taxes due = $900
UPDATE – Borrower has started paying again over the past 3 months and has included extra payments in order to catch up. Excellent progress!
St. Joseph Realty LLC is growing and always looking for the next profitable real estate project. If you’re interested in selling non-performing notes or REO’s, please contact Phil.