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Updated about 5 years ago,

User Stats

35
Posts
44
Votes
Ian E.
  • APO, AE
44
Votes |
35
Posts

First note purchase - Due Diligence Help

Ian E.
  • APO, AE
Posted

I am purchasing my first note through FCI. It a low cost performing note that ($11k UPB) and I just received the due diligence documents. I have the original note, deed, and Assignment of Mortgage. However, the original note shows a much higher monthly payment and interest rate than what this note was advertised for. I am assuming the note was restructured at some point by lowering the interest rate and monthly payments. If this is the case, I am also assuming there would be a loan modification paperwork that actually shows the current info. Am I off the mark here or am I missing some documents/data?

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