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Updated over 13 years ago on . Most recent reply

User Stats

17
Posts
0
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Emy S.
  • Real Estate Investor
  • Gainesville, VA
0
Votes |
17
Posts

Anyone making second loans in this market?

Emy S.
  • Real Estate Investor
  • Gainesville, VA
Posted

Here's our situation: I have an approved short sale with a ratified contract and a conventional loan for 80% of the PP and we're putting down 10%. The problem is finding a lender for the remaining 10%. All of the lenders I've spoken with are not willing to provide a second loan on a purchase. Does anyone know of a lender who is willing to provide a 2nd mortgage or a HELOC for the last 10%? Also, this property is a condo and isn't FHA approved.

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