Posted by Peil on July 08, 2002 at 23:00:01:
Only one person i can think of to do 2nd mortgages for purchases on apt’s…The seller!!
No Seasoning ReFi’s (Troy) and hard money - Posted by Anthony H.
Posted by Anthony H. on July 08, 2002 at 13:49:59:
On the no-seasoning re-fi’s that Troy recommended, I just called today June 8 and they told me the lender just changed the policy to 6 months seasoning this morning. Oh well, hopefully some of you benefitted from them.
Secondly, I have searched and emailed just about every archive on hard money.
I am looking for a “True” hard money lender(as ED classifies it, based primarily on appraisal of property) that does a second mortgage for purchase on apartments.
Brokers/finders welcome.
Anthony H.
humblelight@yahoo.com
Re: No Seasoning ReFi’s (Troy) and hard money - Posted by Nate(DC)
Posted by Nate(DC) on July 08, 2002 at 22:25:36:
Anthony,
No “TRUE” hard money lender does a second mortgage on ANYTHING. They all want to be in a first lien position.
Good luck,
NT
Re: No Seasoning ReFi’s (Troy) and hard money - Posted by Anthony H.
Posted by Anthony H. on July 08, 2002 at 22:31:40:
I am quickly finding that out. I guess i am looking for someone who does any 2nd mortgages for purchases on apartments. Any suggestions?
Re: No Seasoning ReFi’s (Troy) and hard money - Posted by Nate(DC)
Posted by Nate(DC) on July 09, 2002 at 16:32:34:
Seller is probably the most likely source. If it’s 4 units or less, that would be considered residential, but above 4 units you’re probably looking at the seller.
NT