Maybe if I had a couple million in cash it would be neat to always have a 2nd home in Folly to visit.I think I might find that offering a rehab loan or a long-term bond to a local investor or individual with a real estate collateralization might be the preferred option considering the flood insurance and erosion issues.

Meanwhile, if you are interested in earning high returns on your cash collateralized by SFHs in midwest, DM me for details.

The second is actually to qualify for a new financing by using the cash value in the policy as collateral.

I took a 125 K hard money loan out secured against our North Northgate construction site with a promise to cross-collateralize the note down the road against the tri-plex itself.

How much collateral value do you have at 65%?

To use as collateral for the down payment.

Rather than forgiving everyones debt what the government should do is 1)  Allow student debt to be discharged in BK so those in trouble can truly get out from under this burden.  2)  Charge the colleges that sold worthless degrees the people that had debt discharged.  3)  Get out of the loan business going forward, NOBODy should be an indentured servant to their government.  4)  All future student loans should come from the colleges granting the degrees, they can use their endowments as collateral to get the cash to loan.  5)  Government should bundle student debt into tranches, performing, non performing, partially performing, and sell it off to wall street investors (after step 1: making it dischargeable in BK).  

Let me know if you have any questions:Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 3-5 points(%) of loan amount (Most Deals are 3 points(%)) - $2500 minimum fee Minimum Loan Amount: $75,000 Max Loan: 65-70% of After Repair Value(ARV) 100% Rehab Financing Available (Most Deals require 10-20% of purchase price down or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 7-10 business days)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

To use as collateral for the down payment. 

Conventional loans require you to qualify with credit, income, and assets (and a few more Dodd Frank rules).There are asset based lenders (called hard money) who will do a loan IF you have good credit and they like the property to get a cash out loan and cross collateralize over another.