Portfolio loans issues, looking for ideas

[Jackson Long]

Hey folks,

This has heavy overlap with the Creative Financing section but...  I am not (yet) looking for a group up creative plan so much as looking for creative solutions to a conventional problem.

The situation is I found a lender with a product that was fairly unique in that it was a cross collateralized portfolio loan with NO minimum asset value.  We are buying in Memphis and you can get a decent house there for 40-50 grand and so we are in contract on several.  But about three weeks into the process we find that they requirements changed and they now require a 50k minimum asset value- which is about industry standard I think.  We are now two weeks from closing.

Now we can probably pull together sufficient cash to protect the deals and then look for another answer.  But, we are all about leverage and cashflow so this is really sub optimal.  

Ideas I've had so far:  (I tried cursing loudly- it did not work)

Offer a foreclosure deposit of some kind to protect the lender in the event of a foreclosure.  Was told the 50k number is designed to make it "worth while" to foreclose because even if 40k is a nice house spending 7500 to get it back is a bad percentage.

Larger down payment.

Pull out anything big enough for the existing product, use it on those, then do something else for the rest.

Aanndd those are the things I've thought of so far.  I'd like to hit Monday with a solid list of potential solutions.

Okay gang!  Hit me with some wisdom!