- Loan Amount* $325,000
- Collateral Valuation: * $500,000
- Term * 24 months, First Lien, IO
- Rate * 10.99%
Our Borrower was in escrow for the purchase of a 2-unit rental property. An issue on title was discovered which ended any chance at conventional financing. To clear a title issue before bank financing is possible, our borrower will remedy permitting for a second unit or convert the property back to permitted status and exit our loan with a bank refinance.
