Address: Lake County, FL 34748
ARV: $400,000 (2 Lots)
Loan Amount: $103,000.00
Loan Structure: 12 Months Interest Only
Interest Rate: 15%
LTV 26%
Borrower Profile: Experienced Investor
Work Description: Foreclosure Bailout
Loan Purpose: Rate & Term Refinance
January 16, 2024
We recently helped a real estate investor in Wisconsin with a lot a loan refinance in Florida. We facilitated a rate and term loan of $103,000 for his two lots in Lake County, FL. The combined value of the properties was $400,000, resulting in a 26% loan-to-value ratio. This experienced investor found himself in a predicament with foreclosure, but fortunately, he reached out to us and explained his situation. We were able to assist him with foreclosure bailout funds, which helped stop the foreclosure process from proceeding further. We paid off both of his lenders and provided him with the necessary funds within seven days. The loan term was for 12 months with an interest rate of 15% and a guaranteed interest rate for six months. This foreclosure bailout loan was funded in January of 2024.
