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HomeForumsPrivate Lending & Conventional Mortgage Advicerefi, first mortgage???? What Are my options??
Taurice Cooper's profile image
Taurice Cooper's profile image
Taurice Cooper
  • Contractor
  • from Edgewood, Maryland
  • Member since Sep 5, 2014
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Taurice Cooper's profile image
Taurice Cooper's profile image
Taurice Cooper
  • Contractor
  • from Edgewood, Maryland
  • Member since Sep 5, 2014
Connect
Taurice Cooper
  • Contractor
  • Edgewood, MD
3
Votes |
19
Posts
Private Lending & Conventional Mortgage Advice

refi, first mortgage???? What Are my options??

Taurice Cooper
  • Contractor
  • Edgewood, MD
Posted

Hypothetically speaking.....I obtain private funds to acquire a property and make repairs and improvements. Improvements are complete and a tenant is placed with 6 months of acquisition. I am obligated to pay my private money lender the principal plus 10% interest 1 year after purchase. My credit is shot. What are my options? Is 10% fair? Can i obtain a first mortgage. If i can not obtain a mortgage personally can my company as an LLC have a mortgage in its name?Please!!!! I need help

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