InnoVest Resource Management's Foreclosure Forum

Discussion Board Foreclosure Training Title Holding Trust Speaking Schedule Foreclosure Codes 50 State Foreclosure Basics Foreclosure Glossary 60+ Yrs Interest Rates News & Trends FAQ Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Hard Money/Equity Posted by Megan on January 08, 2002 at 10:51 PM If the house was already sold at auction, but still a possibiolity of retaining it, owners converted to 7, so makes $3400 a month with basically no other debt, what are our chances of retaining a hard money loan? Don't know at this point what the house sold for, but was worth according to taxes $129,900, but I imagine that it sold for about $123,00 or so. Do you have to have equity in the home to retain a hard money loan? Or does the debt to income ratio matter as well? Could afford $1100 per month. Follow Ups: Re: Hard money loans are made based on available equity. Ward-CA- 7:16 AM, 01/10/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : If the house was already sold at auction, but still a possibiolity of retaining it, owners converted to 7, so makes $3400 a month with basically no other debt, what are our chances of retaining a hard money loan? Don't know at this point what the house sold for, but was worth according to taxes $129,900, but I imagine that it sold for about $123,00 or so. Do you have to have equity in the home to retain a hard money loan? Or does the debt to income ratio matter as well? Could afford $1100 per month. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Copyright © 1997-2001, InnoVest Resource Management

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455