I own an investment property outright, currently there is no mortgage at all. I need either a equity loan or line of credit.
The property value is about $115,000.00. I need to leverage about $50,000.00 in equity. I have a bankruptcy in the last three years. by twl102_631_791 from Homestead, Florida. May 24th 2013
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
If it were your primary residence, then there would be no problem.. but since it's an investment, then your options are very limited.. Hard money is probably your only option.. high rates, and terrible fee's, but you could have cash in your hand within a week.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
Tim Howard (TimHoward)
#75 ranked lender in Ohio - 52 contributions
A home equity may be difficult with a recent BK, they typically have some of the toughest guidelines. I would suggest a small local lender or CU. Possibly even a personal loan with the property as collateral. Best of luck.
Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions
A hard money lender will do this, at a higher interest rate.
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