|
|
|
|
|
I'm being approached to handle the financing for a Construction firm that
does remodeling. Currently, they fax an application to a small bank and they
approve it as a Title One or a HELOC. They don't offer wholesale. I need
Wholesale lenders that will do these type of loans quickly and also someone
to handle the fallout. 2nd mortgages for lower credit scores. It would be
nice to turn every loan into a refi but the Contractor does not have time to
wait for closing so I cannot get greedy. I believe they like the Title One's
because they can get the check issues in the name of the Contractor and the
Borrower. Too many times the Borrower blows the $ on something else just as
the permits come through and no $ is left. Please give me some advice on
this. I'm not familiar with these types of loans so I need some
recommendations of lenders who may handle lower scored 2nd mortgages which
is where I think I'll see more income potential.
|
|
|
|
Help, I need Advise.
