ASSIGNMENT:

This was a cashout refinance loan request for a borrower that was referred to us by her Agents. The borrower was purchasing an apartment building from a seller who was offering her attractive seller financing, so our assignment was to help her obtain the funds needed for her purchase.

CHALLENGE:

Our borrower was retired and with limited income and tax filings weren't great.

SOLUTION:

We were able to arrange an interest only bridge loan collateralized against four of their properties that were free and clear.  Also, no appraisals were required, and we closed in less than 3 weeks.