Paying off high interest 2nd mortgage on rental property
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|Loan Status:||Paid||Origination Date:||2008-06-02||EricsCC ROI:||8%|
|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|334099||Paying off high interest 2nd mortgage on rental property||AA||$25,000 @ 10%||May 16, 2008||Withdrawn|