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ray · Joined: 08 Sep 2010 Posts: 1 1.31 Dollars($)

I have a client whos lender has agreed to a short pay. In essence selling to the home owner for tha amount of the bpo. that would mean the home owner can buy the note for about 50% of FMV. Can anyone finance that for the client. They have good income.

smithsussane · Posted: Wed Sep 08, 2010 7:59 pm Post subject:

Hi ray!

Welcome to forums!

If there is already a mortgage on the property, then I don't think that the other lenders will finance it any more unless there is equity in it. However, your client can check out whether or not he can get a private lender to finance this short pay.

Feel free to ask if you've further queries.

Sussane

Guest

no other financing on this. After the loan the LTV would be about 60%. It is really a very good deal for a lender or investor.

gmakerley · Posted: Fri Sep 10, 2010 11:39 am Post subject:

Ray I'm surprised you're not on one of those broker forums shopping this loan. We have several lenders who participate in these forums, of course; but you're not likely to find many nibblers here.

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