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gonza
17 Posts |
 Posted - 08/26/2008 : 10:36:15 AM
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| Need 65-70% foreclosure bailout NOW |
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meridian1
375 Posts |
Posted - 08/26/2008 : 11:27:53 AM
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Cynthia,
Whats the scenario like???
Try Eastern Savings Bank. They do foreclosure bailouts. But 60-65% is the max they can go.No hard money lender will lender upto 70%.
Also you can try Morgan Equity Sharing. They can finance foreclosure bailouts to 70% at rates starting at 4%. But the catch is the lender will gain 5% equity in the property. But the borrower will retain ownership of the house. |
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Mark_GMC
579 Posts |
Posted - 08/26/2008 : 11:28:52 AM
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| We have a definite interest in your scenario, though well need a few additional details in order to provide the most accurate pricing and deal terms. Fortunately our online submission form takes only a minute to complete. Please find the link below and call if you have any questions. |
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gonza
17 Posts |
Posted - 08/26/2008 : 11:48:35 AM
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Eastern Savings Bank is not doing Florida right now. Checked them already. Thanks
quote:
Originally posted by meridian1
Cynthia,
Whats the scenario like???
Try Eastern Savings Bank. They do foreclosure bailouts. But 60-65% is the max they can go.No hard money lender will lender upto 70%.
Also you can try Morgan Equity Sharing. They can finance foreclosure bailouts to 70% at rates starting at 4%. But the catch is the lender will gain 5% equity in the property. But the borrower will retain ownership of the house.
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mganovsky
2049 Posts |
Posted - 08/26/2008 : 12:00:42 PM
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Are you really looking out for the best interest of your client. If they can not afford the payment now and it is in forsclosure how the heck are they going to afford the new hard equity mortgage at a high rate of interest. There best bet would be to let the house go and rent some where that they can afford.
Also how do you know that it is at 65 or 70% LTV, did you have an appraisal done or did you do a "Comp Check".
Hard Equity lenders are looking pretty hard at the appraisals or are doing there own. |
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gonza
17 Posts |
Posted - 08/26/2008 : 3:22:12 PM
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| mganovsky....attitude :( |
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