Home Buying in Martin Park>Question Details

Nikki, Other/Just Looking in Michigan

i am a mortgage broker in michigan and i really need real hardmoney/private lenders for my clients.

Asked by Nikki, Michigan Fri Nov 21, 2008

the majority have under 500. i need ltv's of 60 and under. 90% of business in detroit. would love to give a second chance to someone.

Help the community by answering this question:

Answers

2
good afternoon.my .........partner has some detroit inventory that he is willing to sell on l/c to the right people....i am in the process now of accumulating some info for him with suggested sales prices, terms of sale, etc...etc......once it is completed...i would be glad to forward the inventory to you...best regards.....bob mcclure......
0 votes Thank Flag Link Fri Nov 21, 2008
Nikki,

I fear that this money has simply dried up in today's foreclosure laden markets. It would be an exceptionally risky investment especially in Detroit and would require such a large down payment or interest that it would be cost prohibitive for the buyer. I think that we have fortunately (you may disagree) returned to a time where these types of buyers rent and wait to save up some money and learn to handle money before diving into a house. While there is plenty of blame to go around, it was these types of loans that helped us into this mess to begin with, I would be just as happy to not see them come back.

Cameron Piper
Web Reference: http://www.campiper.com
0 votes Thank Flag Link Fri Nov 21, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer