The collateral matters.Jay, I only wish pricing was that low. 

Venue dictates where disputes are resolved  and if it’s a loan collateralized against property and there’s a default the venue will be the municipality where the property is located even if the loan docs set venue elsewhere or parties have business dealings elsewhere.

Their representative recommended I engage with JP Morgan Chase private banking / wealth advisor as they thought this would allow them to be more creative and include other assets as part of the collateral.

Default Consequences: If the husband defaults on the HELOC, the lender can pursue the property as collateral.

Look at purchase HUDS, statement of work if it was a renovation and the sale HUD to make sure they made money on the deal.An organized and easy to navigate borrower's package.Security documents to collateralize the loan against real, tangible property.I also like to throw in some communication clauses with consequences for ghosting.Cheers!

If your land appraises at $400,000 and your bank will use that as collateral you can do a $1.6mm deal.  

well thats part of the job  checking out your collateral.. :)  

John - Is their other collateral that could be brought into the conversation?

Nobody “needed” the internet when it came out, but the internet enabled things that weren’t possible before.For example, there is a lending platform launching soon that will allow borrowers to use Bitcoin as collateral for a loan.  

You as the creditor are collateralized by said portfolio now in the trust.