Seller has multiple mods

[Daniel Wheeler]

Question for the Guru's...

I am doing a deep dive on a property that looks viable at a given price point.

While searching the county records I noticed the current seller has done a loan modification every year since the purchase of the property after purchasing with a very short term (90 day) original loan.

The loan was between $1-3M...

Why would a buyer go into that scenario?

I'm attempting to back into how much may be left on the note, but the above is a curveball.