Updated almost 3 years ago on . Most recent reply
LOCs on Properties in a Commercial Loan
Does anybody know any banks or lenders that would issue a line of credit against the equity on a portfolio of properties in a commercial loan. We have 15 residential fourplexes that have a substantial amount of equity in them, but because they are in a commercial loan - we've been having a hard time finding a lender/bank that would be willing to go into 2nd position. We need a custom solution here as we're aware this is not a typical off-the-shelf product, and we want to do this without a refinance as our commercial loan is locked at 4.25%.