Any Private Investors doing Jumbo Reverse Mtg?

cab_jones · Joined: 18 Sep 2008 Posts: 1 1.69 Dollars($)

Oakland, CA Jumbo Reverse Mortgage Scenario

21,000 sqft residence, built as a clubhouse and converted to SFR, in a residential neighborhood.

$3,000,000 residential appraisal.

Seeking 40% LTV ($1.2M), 69 years old.

Problem: Current usage is strictly single family residential and zoning permits, but Mixed Use would also be permitted. Consequently the standard Jumbo Reverse Mortgage lenders (that are left) are uninterested.

[Link removed as per forum rules. Thanks.]

adonis · Posted: Thu Sep 18, 2008 11:45 pm Post subject:

Welcome cab_jones,

I'm not aware of any such investor here doing reverse mortgages. But perhaps any lender in this community may be interested. What you can do is, request for no-obligation free mortgage quote from the lenders in this community. If the lenders feel they'll be able to provide you with an offer, they'll contact you to talk about the quotes.

All times are GMT - 7 Hours

Page 1 of 1