A lady from Detroit MI acquired a house on 2014 with a Land contract. In 2016 she went thru some personal hardship and couldn’t make her house payments for 3 months, was facing forfeiture and losing her house.

She had discharged the debt thru bankruptcy not knowing that action would force her lender to forfeit the contract and take her home.

We acquired the non performing land contract using private funds on October 2016. We started our loss mitigation processes and got her to call us and work on keeping her home.

By February 2017 we had an agreement and executed a new land contract not affected by the bankruptcy, she is making her monthly payments, and will be able to keep her home.

We paid 9,000 for the land contract and we covered most of the workout expenses from her initial payments.

The annualized return for this investment is 35.82% with a maturity of 14 years. Depending on the wishes of our private investor we might keep this land contract and enjoy this great returns, or we might sell it as a performing land contract for close to 20k.