Can anyone recommend any banks that are lending unsecured lines of credit? Thanks, Craig
almost most will here in CA. BofA Bank of the west wells union bank all will grant LOCs for 10-100K, if you have say 670+ and 3-years in business.
As mentioned, a letter of explanation may be necessary for an underwriter but... Your scenario is basically no different than someone getting a smoking deal on a tax foreclosure, etc and then selling on an ILC. Totally above board and justifiable.
I use my real estate show and sell agreement.
almost most will here in CA.
BofA
Bank of the west
wells
union bank
all will grant LOCs for 10-100K, if you have say 670+ and 3-years in business.
As mentioned, a letter of explanation may be necessary for an underwriter but...
Your scenario is basically no different than someone getting a smoking deal on a tax foreclosure, etc and then selling on an ILC. Totally above board and justifiable.
I use my real estate show and sell agreement.