Hello. I am looking for a private mortgage lender who can invest 119,000.   I wish to purchase a home recently appraised for that amount but the owner is asking 130,000. I will make up the difference in cash. In addition I  own the adjacent property also recently appraised (at 50,000), which I will deed over to the lender, making the combined property worth 169,000. I will then pay 7% on a 180,000 loan over 10 years (this includes the 11,000 I put in to purchase the property) to buy back the combined property. I have a good income, typically 80,000-100,000 a yr gross but due to a stint of unemployment and mistakes on my credit report no bank will loan to me and I cannot afford payment on a hard money loan. I am under some time constraint here and would greatly appreciate any advice or intrest. Thanks!

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Dear Sirs/Madams,

                I am trying to secure a loan to purchase a home. Last year I was only partially employed and I lost my home of 39 years. I am attempting to purchase it back from the new owner but he insists on cash and will not carry a mortgage. I have recently gone back to full time employment (approx. gross income 90-100,000/year), however my credit was damaged so badly by the foreclosure I have no hope of qualifying for a traditional loan and I have not had the time to save up enough for a down payment on a hard money loan. The new owner wants 130,000 asap. I have 11,000 cash and I own the adjoining lot to the property I wish to purchase free and clear (a recent appraisal on this property was 50,000). I would be willing to deed this property over to an investor and then pay them back for both properties ( the house was recently appraised for 119,000) and even to pay more than the original loan amount. Please consider my proposal, counter offer as you wish, I am very open to ways we could make this work. However, the new owner is not giving me a lot of time, so please respond quickly, let me know what kind of information, photos, etc. you may need to make a decision. Thank you.

                                                                      Sincerely,   J. Robinson

                                                                     J

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