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| SHERIN LENDERS |
HOME |
| ZIMMERMAN (updated 6/22/03) |
UPDATE |
| Partnership Formed: |
Sherin Lenders, LP |
| Loan Status: |
REO; full default, foreclosed - Property Sold |
| Borrower / Developer: |
Unknown |
| Develop / Project Stage: |
Unknown |
| Project Name: |
Unknown |
| Property Address: |
#8 Bentwood in Bentwater on Lake Conroe |
| Guarantor: |
none |
| Loan Funding Term: |
24 months |
| Original Loan Amount: |
$335,000.00 |
| Principal Balance: |
$335,000.00 |
| Stage Funding Due: |
none |
| Title of Property: |
Big State has transferred title to partnership. |
| Lien: |
First |
| Advances by Premiere: |
$169,000 (approx), amount settled with Estate. |
| Exit Strategy: |
Sale of home after repairs |
| General Partner: |
Sherin Lenders GP, LLC - Jim Williamson; eMail |
| Loan Maintenance by: |
M$M Money Mortgage, Ltd. |
| Description of Prop: |
Residential; home completed but in some disrepair. 4750 square foot house, golf course lot. The house, although nearly completed, needed a lot of work to pass inspection and put on the market. All necessary rehab should be complete in the next 2 weeks from Aug 1
6/22 The property has been sold. The purchase price is approximately $200,000. After payment of rehab, taxes, attorney's fees, and reimbursement to the Estate, the recovery was approximately 16%.
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Photo of Property, if available:
Notice: The information contained in this summary has been acquired by several sources; there are no warranties expressed or implied as to its accuracy and completeness. All information should be independently verified. Nothing contained on this site should be construed as legal advice. If you have legal issues, you should consult an attorney.
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