Rehabbing Atlanta Foreclosure for Resale
| Listing Information |
| Amount: | $5,000.00 |
Status: | Loan created |
| Grade: | B |
DTI: | 28% |
| Lender Rate: | 14% |
Borrower: |
PeachtreeHousing
|
| Time Left: | Finished |
State: | GA |
| Funded: | 100% |
Group: |
WealthBuilders
|
| Loan Information |
| Loan Status:
| Paid |
Origination Date:
| 2006-07-25 |
EricsCC ROI:
| 13% |
| Status History |
| Jul 24, 2006 |
Current |
| Dec 13, 2007 |
Payoff in progress |
| Dec 15, 2007 |
Paid |
|
I am rehabbing a house in Atlanta. The house is all brick with 4 bedrooms 2 baths. It was built in 1940. I have replaced the roof, plumbing, electrical and HVAC. I am in the process of replacing the kitchen and bath fixtures. I paid 72K for the house. The repairs will total 30K. (25K of my own money + this 5K loan.) I have an after repair appraisal on the property from about 1 year ago for 140K. Since that appraisal, there have been two new subdivisions started within 1000 feet of this property. They feature homes starting at 180K. Since I plan to sell this property, I have decided to upgrade the finishes to better compete with the new construction. It should appraise for around 145-150K. I withdrew my first loan request and adjusted the loan amount and interest. I understand that my debt to income is a little high, but I do own the house free and clear and have two other properties with more than 20% equity. |
| Borrower's Other Listings |
| 24167 |
Rehab forclosure for resale |
B |
$10,000 @ 14% |
Jul 11, 2006 |
Withdrawn |
|
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