Posted by Michael Morrongiello on August 01, 2003 at 16:51:27:
Lee:
What will weigh heavily in evaluating this Note is the credit profile of the buyer, their credit scores, employment, stability, etc.
Clearly this information any Note funder (including our firm Sunvest) will want to be apprised of BEFORE attempting to accurately price this type of file.
To your success,
Michael Morrongiello
Is this note marketable?? - Posted by Lee
Posted by Lee on July 23, 2003 at 21:00:27:
I’m flipping a single family house for $86,000 to a couple who’s just recently moved into town. The husband is a former Marines with a VA Loan commitment. He’s taking his postal worker test this Friday. They wanted to move in asap plus with me flipping the house the VA is not going to allow it. The couple is putting 5% down with balance $81,700 financed for a term of 30 years with a 2 year balloon, no prepayment if they chose to refinance with the VA in a year or so. They’re getting their financial information to me as we speak. Again my question is, is this note marketable and what kind of discount am I looking at if I do a simtaneous closing.
Thanks in Advance,
Lee