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08-21-2018, 12:09 PM #1
- Join Date
- Apr 2017
- Posts
- 190
Short Term Bridge Loan $60K
I found a borrower that found a short sale SFH that appraised for $800K in 2014, through a messy divorce and property settlement battle 4 years long in Montgomery County, PA courts house ordered to be sold to satisfy mortgage holder.
Locked property up at $599,900 with 10% down pre approval, 10% and closing costs around $100K all good ready to go. Last minute mortgage company now wants 20% since property was unoccupied since 2014.
He have done every inspection, all HVAC & Heating systems presser tested, property just needs good sprucing up and I have $60K set aside for that.
Also he have a bonus for energy procurement due March of 2019 for $150K would like to pay interest until then on the $60K pay it off but guarantee lender 12 months of the interest agreed upon.
Please PM the options. Thanks
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08-21-2018, 12:17 PM #2
- Join Date
- Feb 2017
- Posts
- 3,431
Is the borrower on title yet? How much does he need to borrow?
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