Posted by Steve on February 27, 2002 at 22:49:53:
I can help if you still need it.
need short term loan at 40-50% LTV - Posted by Gordon Miller
Posted by Gordon Miller on February 20, 2002 at 12:04:03:
I have a client whose investment property went to sale 2/13/02. He filed Ch.13 BK, 5 minutes before the sale and saved the home.
Current debt on the property is $70,000 1st, $38,000 2nd
Property consists of 4 houses on 1 parcel.
Property valued between $250-300k.
Located in Prescott AZ
He would like to secure permanent financing below 12% interest and you could charge a high number of points to put this together. He is willing to take a 18 to 24 month balloon, but would prefer to secure permanent long term financing.
We were in the process of setting him up with a bridge loan to reinstate the property before sale, but didn’t have enough time, thus the bankruptcy, which will soon be discharged. I have already ordered a PR.
Email ForeclosureRS@aol.com---------Thanks