BUILDING A BARN
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 18% |
| Lender Rate: | 17% | Borrower: | Drafthorse |
| Finished | State: | MD | |
| Funded: | 100% | Group: | AAAA Fund America |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2008-01-08 | EricsCC ROI: | -61% |
| Status History | |
|---|---|
| Jan 06, 2008 | Current |
| Mar 01, 2008 | Late |
| Mar 10, 2008 | 1 month late |
| Apr 09, 2008 | 2 months late |
| May 09, 2008 | 3 months late |
| Jun 10, 2008 | 4+ months late |
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Purpose of loan: To build a Barn and fencing. We live on a great farm not so far outside of DC and have great equity in our house but sadly enough we don?t have a barn or the ability to get a barn building loan, our parents hold the mortgage and sold us the house. We cant have a second mortgage or line of credit in the traditional sense with out paying them off first the banks want to be first! We want to build a four stall barn with a tack room and hay storage to keep our horses in and our two borders. We have boarders now at 400 a month but they will not stay with us unless we can provide shelter so we need to do this. Our house just appraised at 825k available at request to review. So we are in great situation we owe 170k on house. We can also raise the board to 350 or month with a barn. It would a great quality built barn by the Amish. Barn is 18 k built on site wood siding metal roof by the amish 3k for electric work and permits 2k for water hook up and stone dust for stalls and around out side of Barn 2k for additional fencing and gates around barn and fields My financial situation: Wife as a federal job 8 years I have a design professional job 2 years and before that 5 years with design non profit. Monthly net income: $7500 after taxes Monthly expenses:$3500.00 itemized below Housing: $ 1500 Insurance: $ 300 Car expenses: $ 300 Utilities: $ 300 Phone, cable, internet: $ 200 Food, entertainment: $500 Clothing, household expenses $ 200 Credit cards and other loans: $ 200 Other expenses: $ |
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Discussion For This Listing
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