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04-10-2017, 05:19 PM #1
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- Jan 2017
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Bed&Breakfast 400-500k Bridge Loan / Hard Money
Scenario:
Bed & Breakfast out of RI. I have appraisal at 3.3M. Current balance 1.4M in first mortgage.
Merchant is getting a refi for 2.1M but needs approx 400k-500k in the interim bridge loan or hard money 2nd for renovations/improvements.
Merchant does not have a commitment letter for her refinance / exit strategy yet. Total CLTV would be under 60%.
Merchant motivated, direct lenders, please.
Thanks.
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