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Loan Scenario: CA, Refinance (Rate and Term)

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Forums » For Mortgage Professionals » Loan Scenarios » Loan Scenario: CA, Refinance (Rate and Term)
 

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Latest post Sun, Apr 19 2009 5:19 PM by Catherine Coy. 1 replies. Viewed 387 times.
Page 1 of 1 (2 items)

  • Tue, Apr 7 2009 3:17 PM                

    |Contact
    Loan Scenario
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    Loan State: California
    Loan County: Los Angeles
    Loan Type: Refinance (Rate and Term)
    Loan Amount: ---
    Property Value: $750,000
    LTV: ---
    FICO: ---
    DTI: ---
    Occupancy Type: Owner-Occupied
    Property Type: Condo

    Will anyone refinance a loft in Downtown Los Angeles that is owned by a 501(c)3 organization and do it in the organizations name? A commercial loan would be totally fine. When they originally purchased the loft (to use as an office) it was personally guaranteed by an executive of the organization who is now leaving.  The did that to obtain a traditional residential mortgage since the building is technically a condo, though live/work is allowed.  Now they would like refi in just the org's name.  Plenty of assets and income.  Commercial loan maybe ? Anyone?

    Thank 

    PREMIUM MEMBER
     Justin Bayle
    CS Financial, 9595 Wilshire Blvd., Ste. 801, Beverly Hills, CA 90212
    Tel: 310-777-3600 x186 Fax:424-202-3899 Email: justinbayle@gmail.com
    SERVICE. INNOVATION. COMMITMENT. Serving homeowners and investors across California.
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