Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

40
Posts
19
Votes
Robert Clifford
  • Rental Property Investor
  • Greenville, SC
19
Votes |
40
Posts

issues with blanket loan - need

Robert Clifford
  • Rental Property Investor
  • Greenville, SC
Posted

In 2021, I refinanced some properties with some PE-backed lenders.  The loan officers convinced me to put them on a multi-property loan.  There were provisions to sell individual properties out, and when I got an offers, I took them based on the direction from the servicers that they would recast the loan.  After I sold the property, they would not recast the loan.  I lost a chunk of income, such that I could no longer service the loans.  The lender/investor is unwilling to negotiate, and I'm looking for some help to refinance the properties (short or long-term) and get them into individual loans.  They have cash flow, and there is equity; the issue is that all of this has negatively impacted my credit score.  There are two loans, one that's around $1.2M and one that's around $500k.  Looking for a private lender.  Properties are in Columbia, SC and Greenville, SC.

  • Robert Clifford
  • Loading replies...