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Updated over 6 years ago on . Most recent reply
Was a blanket mortgage the wrong option?
I have 4 properties within a blanket mortgage with my LLC. The are 5/1 ARM. Any advice about removing the blanket mortgage and separately having 15 year notes on each of the properties. At this point they are all cash flow positive. However, I can't borrow from the equity in the properties because they are all lumped into one mortgage. I think I took a bad deal here. Anyone have experience with this?
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Jay Hinrichs
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- Lake Oswego OR Summerlin, NV
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Jay Hinrichs
#1 All Forums Contributor
Professional Services
#1 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
@Wayne Brooks we always have defined release clauses in the prom note..
however I suspect most dont know to ask..
- Jay Hinrichs
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