The LTC was sub 60% for the deal I was doing.HML looks at the asset more closely than the borrower, as long as the borrower has the talent and knowledge to do the deal.Good Luck!

If you have done this before (sold on land contract, then refinanced at a bank) then you are co-borrowing with the buyers, creating a partnership.

Is the borrower perusing a short sale now?

I intend on borrowing from him again should everything go well, if that changes the approach.Thanks!

Many/most "cash-only" Sellers don't mind if that cash comes from BORROWED money - but they're mainly making the point:- your Offer must NOT have a financial contingency attached to it, and MUST be able to close within the stated time-frame.

If other terms (i.e. price, down payment, interest rate, balloon, qualifications of the borrower, etc.) are to my liking I am usually willing to extend the amortization period.

Yes the banks will limit your borrowing after 3-5 purchases as the risk goes up.

Just posting this to see if others who buy NPLs and do loss mit have had any success using a virtual assistant to handle borrower outreach.

So if you have the foresight, it's not a terrible strategy to max out your TSP on day 1, wait until your eligible to borrow the max and use this money to generate income.

If you are borrowing money, the best rates and terms are found at 4 and few units.