All Forum Posts by: David Medeved

@Kevin M Finley

I just reached out to Bravex and was told they suspended long term loans. It seems the whole 30 year no doc lending just vanished overnight when the markets tanked. 

Daniel, thank you but they are all S.F. properties. It seems impossible to refinance single family rental right now with asset based loan (no w-2), unless one qualifies for traditional mortgage where you can prove income.

Ken, can you possibly share if you know of a lender who is still offering these types of loans and at what LTV

Hey,

I am currently looking to refinance a few rental properties in NJ owned under an LLC. It seems these kinds of loans have disappeared from the market as soon as Covid created havoc in the markets. This means I could be stuck paying my HML for quite some time until the markets recover.

Curious to know everyone's thoughts on this and if this is effecting your business. Or maybe someone knows a lender out there who is still lending 30 year rental loans to LLC.

This is very bad for landlords as they will no be left with no security deposit at the end of lease term with which to cover any repairs to home caused by tenant or any outstanding rent/utilities. 

Governer went too far with this. All landlords need to come together and challenge this E.O. in court. If we don't fight this one, next up will be that all rent payments are waived until further notice. Let's put an end to this madness.