Lending workshop-who has attended? - Posted by chris

Posted by LK on May 16, 2007 at 13:17:15:

I’m sorry, I thought you were wanting to refinance a house that you owned.

Why can’t you sell the note?

Lending workshop-who has attended? - Posted by chris

Posted by chris on May 15, 2007 at 10:00:45:

Would you recommend going also what is the price? I have done 6 rehabs and now have 30k tied into a first mortgage where I can’t touch my money. Unfortunately this period of time I need that access asap. The worst thing is the 30k is against a house valued at 66k. Hard money lenders are not willing to cash this out because it is against my partners investment. My partner doesn’t have any liquid reserves, and the rehab is only 6 months old. These factors have made it impossible to get the money out.

Re: Lending workshop-who has attended? - Posted by LK

Posted by LK on May 16, 2007 at 07:16:10:

Post this on the financing forum if you haven’t already. You will probably get help there with your immediate problem as well as info about the workshop.

You may want to clarify what “because it is against my partners investment” means. Whose name is the property and loan in? I just purchased a property with cash and I am getting a .75 LTV cash outloan a week later.

Get over on the finanding guru page and you should get the help you need.

Re: Lending workshop-who has attended? - Posted by chris

Posted by chris on May 16, 2007 at 08:10:28:

My partner bought the house. I am the person that loaned the money on the private 1st mortgage to finance it.