Paying off high interest 2nd mortgage on rental property
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,995.00 | Status: | Loan created |
| Grade: | AA | DTI: | 16% |
| Lender Rate: | 8% | Borrower: | raygrooms |
| Finished | State: | FL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2008-06-02 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Jun 05, 2008 | Current |
| Jan 03, 2011 | Payoff in progress |
| Jan 19, 2011 | Paid |
|
Purpose of loan: This loan is to be used to pay off a high interest 2nd mortgage on a rental property. My financial situation: I have about 25 rental properties in North Carolina and while I was initially buying them, I used some higher interest rate 2nd mortgages on a few to allow myself to continue buying. All of the properties cash flow positive and I have a 65% LTV to 80% LTV on all of them. The only other debt that I have is my primary residence. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 334099 | Paying off high interest 2nd mortgage on rental property | AA | $25,000 @ 10% | May 16, 2008 | Withdrawn |
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