What is best way to get fast Private Money loan when lender bails

[S. David Vaillancourt]

Happy Saturday to you!

I thank you for reading this outreach and hope I may be able to assist you in some way in the future.

(1) After I received a preliminary offer in late October, the lender had provided me a specific, written, conditional offer on 11/7/16 to lend the following:

• 75% of LTV (The lender's ordered appraisal appraised the property @ $276,000 on 11/18/16)
• 10% interest only for 1yr min (up to two years)
• Indicated closing before the end of November 2016 (4 – 10 Business days)
• Said they will forward documents two weeks ago, but no contact or replies to inquiries since then - - - only crickets.

The lender is CIVIC Private Money Lending () Redondo Beach, CA. Do you know if anyone else has been abandoned midstream like this by them? This has created quite a difficult situation for me with a note due on December 15th.

(2) This loan (I’m calling it a bridge loan) is required to retire a 6-month hard money loan and allow me to season the property for a full year…at which time I will acquire institutional lending to hold indefinitely.

• Loan is needed only until June 2017, but I will pay longer to get the property seasoned
• I only need 65% LTV ($180K) to accomplish this short-term goal
• Need to close by 12/15/16

(3) This is a small, 6-unit multifamily in a quiet neighborhood inside the inner loop of SE Houston, TX.

• 100% occupancy since rehab (with waiting list)
• Long-term tenants with annual leases
• Copy of lender’s Appraisal and the P&L are available upon request.

  Season's Blessings,

  David

[Charlie Fitzgerald]

I would like to assist you in finding out what has happened with this if possible.   If you can pm me and tell me who your point of contact is with our firm, I'd be happy to see what I can do.  This is not the way we do business.