How To Refinance Home Right Away
I have a current situation where there is a Hard money lender who is going to Lend me Hard money on the purchase price of the property at 1,400,000 million but the property appraises for 2,200,000 million how do I get money back right away (like within a couple days or preferably at closing)?
Look for a second lender, explain the equity position you have, get the name of the appraiser he or she might be approved by your second lender. I have clients all the time doing two loans at the same time, as long as there is equity in the property. Sounds like your situation is qualifying for the additional monies. Find someone that will do a short term balloon, risk is higher, ask the seller to hold if he/she is clear of note after sale, or pump the purchase price for the seller to hold more money to lend to you. He wins both ways makes money on his money (your interest payments)and in a short term he gets the rest of the proceeds.
If it smells like a fish,
looks like a fish,
tastes like a fish,
the odds are its a fish!
Please check with your State regulatory agency. If they are not listed as legit real estate finance company- file a complaint.
If you do this- less people will be hurt from this kind of soliciations.
These guys were a part of Continental Mortgage which is no longer around. They were doing the larger deals. I have never closed a loan with them but have spoke with them on several different deals. I can not vouch for them but am aware of them.
Robert
[addsig]
Yeah, any idea what happened to the Continental name and why they switched?
Yep this is an easy finance if the DCR comes in.