Seller issue
I have a seller who would benifit from a re-fi of the property before I pick it up.
The owner has an appraisal on the property which if he re-fied, would give him $32k out of the property.
His current interest rate is 9.7%, he is out of state from the property and has rented it out for the past year.
His credit rating is marginal.
What is his best option for financing?
If I were about to pick it up, his best option would be to lend me that extra money as a second loan to me. But I dont have the whole story.
Good Luck,
Kyle
If your seller would like to run his refi by a creative loan officer, have him call me. My contact info is under my profile.