Lines of credit-Looking for a line of credit based on real estate
Anyone doing a line of credit for real estate worth $1,500,000? Looking for 80% LTV if possible.
Properties are all free and clear except for one. All properties are located in Minnesota.
Client have 700+ plus. Have a foreclosure in 2014. It has been 2 yrs.
Email to: helpu_fsn@yahoo.com
Replies to This Discussion
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Permalink Reply by Jerry Starr on
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Are the foreclosures discharged ? i dont know of anyone doing " Lines of Credit " but if is commercial and not raw land i will do 65% and could do higher depending on property types.
PM me or call me at 561.318.3104 Jerry Starr
Insource Funding.
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Permalink Reply by Kay Vang-Thao on
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July 2 2014 was the sheriff sale. And so it has been 2 yrs. These are residential homes. Not raw loan or commercial Client wants line of credit for fix and flip.
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ok, well Fix N Flip is easy, again call me with some details and ill give you a better idea of what i can do ,
Jerry Starr 561-318-3104
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No hard money. or mortgage . client wants lines of credit only.
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I can tell you right now that neither myself or any other lender is going to provide a line of credit against the properties - they're going to require a lien which requires a mortgage or a promissory note which requires a closing agent especially somebody with a recent foreclosure I'm a pretty lenient lender and I've been doing this about 10 years and I can tell you right now that scenario is not going to happen
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