Buying a performing NOTE

[Sri Ram]

I am looking to purchase a note(first time) where the UPB (unpaid balance) is about 45% of the value of the property. The interest rate is only 4.25% and only 5 years left to maturity on a 20 year loan. What kind of discount can I ask to buy the note. UPB is 185k. Value of the property is around 405k.

Looking for some advice

[Sri Ram]

It was a 20 year loan amortized for 20 years.  It ballooned in 15 years which was this year. Now the bank wants does not want to extend the loan. The property owner is talking to other note buyer to get it funded by somebody for the next 5 years.