Posted by Ben Carmona on May 16, 2007 at 17:30:07:
Chris,
Sounds like you need a short term rehab loan from a hml. Have just a couple quick questions that I’ll email you to determine if I know of a lender available.
Ben Carmona
Need private $ 30k = have equity in PA +Ohio - Posted by chris
Posted by chris on May 16, 2007 at 09:05:29:
I have a house under contract for 14k. It needs 15k in repairs and after repair value is 60k.
I have a private 1st mortgage at 30k against a home rehabbed 5 months ago in Ohio with a value of 66k. I own a home in PA worth 63k, with 28k against it. This was purchased a month ago and rehabbed.
The house in Ohio is owned by my partner, willing to refinance the 1st mortgage. Please advise.
Re: Need private $ 30k = have equity in PA +Ohio - Posted by John Corey
Posted by John Corey on June 12, 2007 at 09:28:33:
Chris,
It sounds like you have a process for your projects.
Have you had any luck with traditional lenders? I believe you have used
HML before so that is a way to bridge if you have the take out lenders
lined up.
John Corey