Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated about 1 year ago on . Most recent reply

issues with blanket loan - need
In 2021, I refinanced some properties with some PE-backed lenders. The loan officers convinced me to put them on a multi-property loan. There were provisions to sell individual properties out, and when I got an offers, I took them based on the direction from the servicers that they would recast the loan. After I sold the property, they would not recast the loan. I lost a chunk of income, such that I could no longer service the loans. The lender/investor is unwilling to negotiate, and I'm looking for some help to refinance the properties (short or long-term) and get them into individual loans. They have cash flow, and there is equity; the issue is that all of this has negatively impacted my credit score. There are two loans, one that's around $1.2M and one that's around $500k. Looking for a private lender. Properties are in Columbia, SC and Greenville, SC.