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07-29-2021, 05:02 PM #1
URGENT: Foreclosure in Brockton, MA Valued @ $500,000; Need $375,000 Loan ASAP
The property is in danger of auction due to nonpayment, which happened mainly thanks to COVID. Balloon is also due, which lead to foreclosure proceedings.
Current approved loan amount is $300K max. but would leave the borrower having to bring $64K to the closing table (which he does not have) in order to save his property.
Requesting loan amount of $375K in order to cover loan closing fees & $35K state tax lien which has to be paid as part of the closing.
That's 75% LTV
Everything is already done: Appraisal, title work, insurance, etc... Just would have to be reassigned to you.
Property is a multifamily with little rehab work needed (if any), valued at $500,000 in a conservative appraisal.
Borrower has 700 credit as of today.
If you know where I could take this deal to get it closed & funded within 2 weeks time, please PM.
If you are an aggressive lender/investor interested in this deal, send me a PM.
Thanks
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