Foreclosure Specialist · Ridgewood, NJ · Member since 2016 · 9 posts · 1 vote
Seeking $12 million one-year loan to acquire mineral property in eastern KY. 88% LTV from land alone, not including high-value coal, timber and gas on property. All leases and permits in place. Current coal and timber contracts = 200% of loan amount. 3rd party appraisal, title insurance, environmental report and property survey have been completed. Near-equity return available to the lender.
Lender must be willing to expeditiously review dd docs and have funding available to close asap.