Updated 1 day ago on . Most recent reply
DSCR Loan, Single Family, Refinance + Cashout to Rehab, Using PoAttorney
Hello,
My first post here and am hoping to find some advice/solution.
1. I am the financial power of attorney for a family member that had a stroke and does not have legal capacity to sign docs for themselves
2. this family member has 5 properties in their revocable living trust, i am the trustee of the trust
3. I want to fund a DSCR loan to update/rehab one of the properties in the portfolio
4. a DSCR > 1.5 is reasonable given the market rents
Has anyone had a similar experience or can someone recommend a lender that can work under the details above.
Thanks,
Joe