Updated over 4 years ago on . Most recent reply
Hard Money South Jersey
Hi There,
I am currently trying to sell my house to a friend. My friend needs hard money to purchase the house as he has bad credit, bankruptcy. This all due to divorce. He has half roughly 100k to put down towards the house and I want to sell it to him for $250,000.
He is a Union electrician who has stable work. The house is also rented for $1,350 a month and I believe the rent would cover the payback amount plus the interest.
Are there any lenders that would roughly lend $150,000 for a $250,000 house with the house as collateral?
Any tips would be great! Thank you