75 ltv on a resigned contract ?
I am in contract on a great investment property 6 Unit 430K I would like to resign it for 500K I found someone that wants it he sent it in to his bank and the bank told him that they will only honor the original contract and give him 75% LTV on 430K.
Now he tells me he will only buy it if I find him a bank that will honor the contract.
Any advice? I know in brooklyn on big propertys they honor it no problem.