$2MM Mezzanine Loan using Real Estate Units as Collateral; 93% LTV??? No Appraisal???
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  1. #1
    Senior Member Reputation points: 11375
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    Quote Originally Posted by Fundyman View Post
    Is there anyone who can do or knows of a lender who can do such loan?

    Borrower will let lender hold the deed. Needs a quick $2MM for renovations.
    1st Lien: $24MM
    Value: $28.55MM
    Loan Amount: $2MM 2nd position
    Location: East Point, GA

    Who can do this loan using BPO only? The issue is, of course, doing a loan at such high LTV, in the 2nd.
    Couldn't refi the 1st. It's so high!
    MAYBE Lift Forward?

  2. #2
    Senior Member Reputation points: 20465 Fundyman's Avatar
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    Quote Originally Posted by rdgllc View Post
    MAYBE Lift Forward?
    Might be on to something here... I'll keep them there as a backup.

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