Would you consider this note to purchase?

[Andy Chu]

The note has an unpaid balance of 60k and the seller is selling the note at ~ 25k. The note is at a 7% rate but with the discount it is closer to 16%. The note was recently modified so that the payments are below what they could rent the same property for so it makes sense for the borrower to continue to making payments. The only thing holding me back is the BPO value is at 20k.

As a note investor would you even consider this note considering, if you had to foreclosure, you have potentially 13k downside?