Loan amount
$4,386,000
Loan type
Refinance {Cash-Out}
Property value
$14,000,000
LTV
31% {LTV}
Property type
Assisted Living Facility
Credit score
600
Deal experience
None
This loan scenario was submitted by a Broker
Yes
City
Bull Valley
State
Illinois
Current mortgage balance
$3,886,000
How much cash-out are you looking for?
$500,000
Additional Loan Information
The borrower owns 5 different facilities in Illinois and Connecticut. He is in default on two of them. The others have small balances and are not in default. reason is COVID like many others. He needs some cash out to re market the facilities to fill the rooms and also for renovations on one of the buildings. He is looking for loan amount of 5 million crossing all properties
Status
Created
April 26, 2023 - 2:45pm

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