Re-Performing Notes

A Re or Sub-Performing note is a note where the borrower is having trouble making their payments as agreed. They are constantly late , 30-60 days behind. They make their payments 6 months in a row as agreed and then skip a payment. A Re-Performing could also be a note where the borrower had stopped making all payments, for whatever reason. The home could have been in the foreclosure process and the borrower has now caught up the payments and has been paying all of their payments as scheduled. Usually after making their payments on time for 12 -24 months, depending on the circumstances, the Re-Performing note would then be considered Performing once again.

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