Win -Win Money to Flip REO Property
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 0% |
| Lender Rate: | 15% | Borrower: | gtf125 |
| Finished | State: | MI | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-12-28 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Dec 27, 2007 | Current |
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Purpose of loan: I am buying this Bank owned property for 44 cents on the dollar. FMV after rehab is $147,000. I can get bank to accept 65,000 if I come with a cash offer. This loan will complete my funds needed. This realistically will be paid back after I flip in 90 to 120 days max. My financial situation: I have 30 years of perfect on time credit history and a high score of 803. I can not get traditional funds because they have tightened up or eliminated most stated programs. I have 23k in cash reserves and a 35K balance in 401k account. I have just over $100K in equity in my personal residence. I'm as close to a sure thing as it gets. Monthly net income: $ 5800 Monthly expenses: $ 1914 Housing: $ 787 Insurance: $ 60 Car expenses: $ 330 Utilities: $ 175 Phone, cable, internet: $ 130 Food, entertainment: $ 100 Clothing, household expenses $ 150 Credit cards and other loans: $ 80 Other expenses: $ 102 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 241362 | Win -Win Money to Flip REO Property | AA | $25,000 @ 16% | Nov 30, 2007 | Expired |
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