Mortgage Required: $290,000
Obstacles: Client was already behind on payments for his second mortgage and the lender has started foreclosure proceedings. Client also had no income verification as he just started a new business.
What we accomplished:
– Found a lender that was willing to payout the 2nd mortgage and give additional funds to pay of debt
– Settled the 2nd mortgage and saved the client from foreclosure
– The deal was finalized in 5 business days
What’s more interesting:
We managed to finance 75% of the appraised value with bruised credit and no income verification.
– Client avoided foreclosure and payed-off additional debt
– Fast funding saved client additional interest costs
– Grateful client who got to keep his home! When banks said NO – we said a YES!