Posted by BillW. on February 07, 2001 at 23:12:22:
In response to your questions;
1.Check carefully with Mid Ohio re exact uses allowed. You have to work carefully depending on rather you have recourse or not.
2. We get paid for solving peoples problems.
3.If there was as much equity in a deal as you state, why wouldn’t they simply use an equity loan,or refinance? If they had a pulse, they could get 65 percent of value. Then they could just list with a broker and get 80 percent even on a quick sale. If you’re going to persue these type deals, you might find that they are not that common.