You don’t say what state you’re in. If you’re in California, this deal is a done deal.
If you’re not in California, and don’t have a hard money lender in your area,
then I might have some other suggestions, but I would need more information
on your personal property under contract.
Chavis, I’ll be in my office in about 1 hour which would be 10:45 California time.
Today, you’re not going to find any other Mortgage Co. open including mine.
But since I’ll be there working with some of the people from my workshop, you
might as well call me and we can talk. My number is (909) 944-0199.
I’m trying to purchase a foreclosed home(I will live in.) for $44,200 +20,000 in tax liens,+ $15,800 in repairs =$80,000. I have already paid $2,229 and have an offical appraisal of $130,000. However, I want to borrow 60% LTV from the appraised amount, $80,000. My cedit is “C” rated. (terrible), but I have my personal property under contract subject to me completing this deal, plus I have two other properties under contract to flip (assign) in two weeks. I need a loan or note not dependent on credit checks, but the value of the home. Any programs or investors? I need quick action.
I got this lender off this site last week. Called and they sent me a loan package. Try them and let me know if it works. They will lend 65% of the LTV based on the property value for 6 months, interest only payments. Good luck!