Blanket Mortgage

Hi,

You have three residential houses. So I think blanket mortgage is a good option for you. You should sop a bit for lenders or even you can no-obligation free mortgage quote with minimum details and this will be forwarded to the rated lenders of the community.

Best of luck,
Larry

Hi,

Do you have any late payments in the last 12 months? You need to inform us more about your employment history and credit history.

I do not have any lates. Employment is strong & verifiable. Credit is in the low 600's due to high utilization of credit..However no lates. I just revolve a ton of things due to business.

Having an umbrella mortgage is an awecome idea, instead of paying the full price on the intrest, you can start wiing more and you willl lean more as times go on.

lenders are reluctant to issue blanket mortgages - if you sell one, then there has to be a calculation as to how much is owed on that one, compared to what is remaining on the other two. that's just one part of the problem.

if you have scores in the low 600s you'll likely find availability only with lenders who are willing to take a risk, i.e. those who will charge you a higher rate to begin with. you are far better off treating each property separately - if you have to sell one, or if there were an insurance claim for anything, figuring out the percentages would be much easier with one loan/one property.

It would be nice to have one blanket mortgage, but things can become complicated it anything was to happen such as a sale, loss of a property, etc.

My suggestion would be to find the quickest way to pay each one off, something I may be able to help you with. I have shown my past clients the quickest way to zero with all debts they own. I have helped real estate investors, commercial property owners, and home owners.

DJ, this is not an advertising forum. please do not make an effort to solicit business. if you wish to register as a lender (though it appears you are not), that might generate some activity for you.

this is a forum for the exchange of ideas, suggestions, opinions, questions, etc. please do not violate these ideals.

thank you.

My apologies to all that I have disturbed.

I have changed my signature so its more appropriate to the forums. I will refrain from soliciting and only offer an alternative solution when there may me no other .

Ihave twelve single family home is market value today close to 600,000 doller i am looking 350,000 mortgage and only 350,000 balance left please let me know or call me 3136738356

Hi pravin,

You can take out a blanket mortgage for those properties. You should contact the local lenders and check out if they will be ready to offer you a blanket mortgage depending upon your financial situation.

Thanks