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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Persnickity note brokers as cautious as banks. Posted by Ward-CA- on May 07, 2002 at 7:19 PM In Reply to: Getting cashed out of a foreclosure posted by Alfred, TRAINEE on May 07, 2002 at 6:44 PM : Hey Ward, : Based on your data that a bank won't give me a 75% LTV loan on the current appraised valuation of a property that I just bought, and that they will base the loan on what I just paid for it... another idea came to mind... so, if a bank won't give me a loan for the full amount of money that I have in a foreclosure property so that I can get cashed out... let's say the house is worth 105K and I got it for 75K... I should be able to get a note company or individual note buyer to create a note for 75K, @7.5%, 30 year fixed as a 1st TD. What do you think about that kind sir? Thanks in advance. =•=•=•=•=•=•=•=•=•=•= Alfred, It’s tough to tell. I really think you’re going to have to make some phone calls to be sure. Most individual note buyers buy through note brokers. And a lot of such brokers are about as cautious as banks. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hey Ward, : : Based on your data that a bank won't give me a 75% LTV loan on the current appraised valuation of a property that I just bought, and that they will base the loan on what I just paid for it... another idea came to mind... so, if a bank won't give me a loan for the full amount of money that I have in a foreclosure property so that I can get cashed out... let's say the house is worth 105K and I got it for 75K... I should be able to get a note company or individual note buyer to create a note for 75K, @7.5%, 30 year fixed as a 1st TD. What do you think about that kind sir? Thanks in advance. : =•=•=•=•=•=•=•=•=•=•= : Alfred, : It’s tough to tell. I really think you’re going to have to make some phone calls to be sure. : Most individual note buyers buy through note brokers. And a lot of such brokers are about as cautious as banks. 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

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