Loan amount
Loan type
As-Is Property Value
71% {LTV}
Property type
3 unit apartment building
Borrower Details
Credit score
Deal experience
2 deals
This loan scenario was submitted by a Broker
Property Details
New York
Loan Details
Additional Loan Information
1 am the Originating Mortgage Broker of record. My client needs a Letter of Interest to stay the lift of stay to the chapter 11. Mortgage amount needed - 1485000.
1st lien with Wells Fargo - 1289000 will consider a reduction in pay off to 1200000.
2nd lien with Ditech - 70000 will consider a short pay off amount.
All title escrow and estimate closing fee 78000 estimate.
Lenders fee TBD.
Property was under bad management. Client lives in West Virginia and is retired. Filed a Chapter 11 at the advise of his.
Exiting strategy: Obtain new management, rewrite the loan after 12 month payment history to a longer term.
We need to obtain your best effort for my client. This is not a fix and flip only a rewrite of the loans of record. Client purchased property in 2008.
July 14, 2019 - 8:56am

Hard Money Lenders Now Offering Real Estate Investor Loans in New York Buffalo | Rochester | Yonkers | Syracuse | Albany | Spring Valley Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans