melrose38
179 Posts |
 Posted - 03/11/2008 : 09:57:06 AM
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I have a borrower who runs a daycare in AZ. She needs financing to buy the business and building for a total amount of $189,000. ($72,000 is for the business.) The owner is threatening to kick her out of the property and take back the business.
She just refinanced her home and pulled money out to pay off debt and have some money for this purchase. Two of her four creditors haven't reported the payoffs yet. Her current score is 612 and she has $17,000 to put down. She hasn't done her corporate 2007 taxes yet.
Can anyone give me some lender direction on this before she loses her business?
Thanks. |
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