Loan amount
$70,000
Loan type
As-Is Property Value
$95,000
LTV
74%
{LTV}
Property type
Single-family
Borrower Details
Credit score
500
Deal experience
None
This loan scenario was submitted by a Broker
Property Details
State
Michigan
Loan Details
Additional Loan Information
I flipped a property last year in Michigan on land contract, with view to the buyer getting to the required FICO score to allow him to apply for FHA mortgage. It's taking longer than I thought. I'm looking for a refinancing deal for a company to do with the buyer, based on lending up to $70,000, which would allow paying me off, and clearing any outstanding unsecured debt, as well as lowering his monthly payments which are $800 per month on the land contract. The property may appraise close to $100,000: https://www.redfin.com/MI/Monroe/505-Harrison-St-48161/home/112203104
Status
Closed
Created
July 22, 2019 - 2:03pm
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