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All Forum Posts by: James Mackenzie

James Mackenzie has started 2 posts and replied 3 times.

Post: Commercial loan costs after not closing

James MackenziePosted
  • Rental Property Investor
  • Posts 3
  • Votes 1

@Caroline Gerardo

The only thing I signed was a financial statement that disclosed my assets to start the application. After that, I don’t have any other documents signed for them.

Post: Commercial loan costs after not closing

James MackenziePosted
  • Rental Property Investor
  • Posts 3
  • Votes 1

This is my first time dealing with a commercial loan for a property that I was going to buy. Due to the appraisal and other factors, I had to terminate the deal.

However, after a week, the bank that I was using is sending me invoices for their lawyers and other costs that they incurred when working on the deal.

I certainly wasn’t anticipating them charging me for every little thing from their end.

Is this normal practice?

I own a small 4-unit property south of Boston that is all subsidized housing and all tenant-at-wills. I’ll refer to each tenant based on the unit they live in.

Recently, the boyfriend of my Unit 4 tenant (bf not on original lease) threatened my Unit 2 tenant with a weapon. The boyfriend was arrested and later released on bond. The bf and Unit 4 tenant have continued threats to my Unit 2 tenant and will not stop.

What is the best course of action I can take? Some people have mentioned that bringing this issue up to the housing authority for Unit 4 will do nothing. Do I just start the eviction process instead?