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paulyswans
41 Posts |
 Posted - 11/04/2009 : 5:23:03 PM
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I have the following scenario ready to go if someone can suggest a local hard money lender to me:
Property in Baltimore County, Maryland
Home is owned by a brother and sister
Sister currently occupies property
Brother wants to cash-out 50% and pay her to move out, which she has agreed to
Value is $500,000
Brother wants to take out $250,000
Currently owned free and clear by both brother & sister (left by parents)
Neither brother nor sister have income they can document
Please advise if you have any takers on this or suggestions as to where to take it. Thanks |
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the_mortgage_guy
2628 Posts |
Posted - 11/04/2009 : 5:33:09 PM
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What does credit and assets look like?
Is it rented out?
What do they do for work? |
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paulyswans
41 Posts |
Posted - 11/04/2009 : 5:44:42 PM
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Let me be very transparent:
I work in a fairly large Real Estate office and this is a favor for the Realtor I sit next to:
I haven't pulled credit on the borrower yet. He currently works as a car salesman, but is on 100% commission. Before that he owned a seafood carry-out restaurant for 25 years, that just went belly up. He did however just sell his primary residence and I believe made about $100k in profit. That's all I got right now. I can get more if you think it's worth while.
quote:
Originally posted by the_mortgage_guy
What does credit and assets look like?
Is it rented out?
What do they do for work?
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1stintegritymort
1791 Posts |
Posted - 11/04/2009 : 6:03:50 PM
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Try hardmoneybankers.com
They are out of MD. Ask for Jason. |
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