Trying to cut my losses as the borrower got all her unsecured debts discharged through Chapter 7.

I explained to the lender that I didn't want to borrow funds for the rehab just to buy.

We paid $1.775 million for the notes, worked out a modification with the borrower, and received the first 5 monthly payments relatively on time.  

I agree as long as it's not borrowed. but when you BORROW from anything that accrues interest there is no benefit. 

Most lenders who order appraisals are required to order them through a 3rd party AMC, which can add additional costs to the appraisal but ensures that there is no lender (Or borrower) bias in regards to the values.

You then would then be due the 80K from the borrower.

So if for example, a max LTV for a borrower's credit score is 75%, the program will reduce to 70%.

None of us are as smart as we think we are when an investment goes right.Lastly, I'll borrow a thought from Morgan Housel - don't seek the investments with the best returns; seek the investments that will allow me to make an average return for the longest period of time.

For a conventional loan, you can borrow UP to what you paid for the property plus closing costs OR 75% of the appraised value which ever is less.  

Reason I ask this is I believe a famous name doesn't necessarily mean the business is well-run, it also does not mean it is not well run.I have seen it from both sides where there are well run companies and We have a borrower who is pretty well known, was just seen on a red carpet, is a great sales and marketer, but is being sued by everyone and anyone because of defaults.