Bought first note and house already on market!

[Todd Krzeminski]

So I just closed on a reperforming second lien note this month through my SDIRA. This is the first note I've ever purchased. I happened to drive by the property last night, and there's now a For Sale sign out front!

I purchased the note for $23,500 and the payoff is just under 31k. 

My initial thought is this is the best case scenario -- assuming the house sells, I immediately get the 7k kicker, get my money back to invest in the next.  Am I missing something?

Is this common with reperformers? My theory is the owner reworked the delinquent loan, and now that the loan is performing they're getting out while they can.