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jimmysol
89 Posts |
 Posted - 08/11/2008 : 2:13:49 PM
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Do you know any portfolio lenders that are out there still? If so, do you know any that would do an unwarrantable condo? On the condo cert, it asks if one person owns over 10% of the units. In this case, the developer owns over 50%... They couldn’t sell them, so they turned them into rentals.
There aren’t any government programs that finance that and Fannie/Freddie guidelines don’t allow it either. Since pretty much every bank is selling to Fannie or Freddie, we haven’t been able to find anyone that can do the financing.
If you have someone that could do this, please reply.
THANKS!!!
James |
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nowbroker
1385 Posts |
Posted - 08/11/2008 : 3:02:25 PM
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| Wells Fargo, max 75% ltv on limited review guidelines |
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