I seem to be in a bit of a no-man's land looking for a lender in this range for commercial (office, retail, industrial) properties.I have been in contact with some banks, some credit unions and a commercial finance broker with limited success so far.

- Claude Diamond like to use huge rent credits to get TBers. 50% to 100% of rent.

(don't care about their credit?)

Obviously, in terms of the "Big Picture" there has been a crisis of secondary market confidence with regard to the enormous increase in borrower delinquencies and pending or actual forecclosures which has led to a major culling of the ranks of wholesale mortgage lenders... now probably close to 125 lenders who have closed up shop within the past 5-6 months.Actually, many of those lenders were little more than "Super Brokers" in that they relied upon warehouse credit lines or correspondent relationships with "Big Brother' lenders.It's somewhat analagous to our belief in the notion that a $100 bill is actually worth $100.

There is only two problems, I have bad credit and $0 in my savings .

Save Your Credit Today!

Would you use a line of credit on a house that is not a primary?

Foreclosures are up, this may be the best time for "Subject To" buying.Third, if your credit is good, wouldn't it be a good idea to tell the lender that, or allow them to check your credit if they're unsure of the transaction?

Credit, income, and assets are not major factors.Loan is typically around 70% arv.Will send a pm to you.

Occupancy Owner Occupied, Second Home, Investor Interest Only Option Up to five (5) years interest only, then P&I for the remaining 25 years REQUIRES MI LTV Limits Owner Occupied, Second Homes, 90% NO MI LOAN Limits $1.25 Million Credit Score Requirement: 760 International Borrowers are eligible for this program @ 80% Close your Daytona Condotel in an LLC - Requires Personal Guaranty; Does NOT report to personal credit unless there are lates or default --------------------------------------------------------------------------------80% LTV for condotels if credit scores 640 - 759--------------------------------------------------------------------------------No prepayment penalty******** End Quote ********With regards to commercial or residential status, that depends on where the property is located and how often you stay in the property.