Seller issue
I have a seller who would benifit from a re-fi of the property before I pick it up. The owner has an appraisal on the property which if he re-fied, would give him $32k out of the property. His current interest rate is 9.7%, he is out of state from the property and has rented it out for the past year. His credit rating is marginal. What is his best option for financing?
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If I were about to pick it up, his best option would be to lend me that extra money as a second loan to me. But I dont have the whole story.
Good Luck,
Kyle
If your seller would like to run his refi by a creative loan officer, have him call me. My contact info is under my profile.