Owe more $ than your property is worth? Restructure the debt through MFG Capital in Tallahassee, Florida For Sale
Type: Financial, For Sale - Private.
Licensed in all 50 States
The process is simple:
Overview of Program:
MFG will purchase your loan from your lending institution at about 60-70% of it's value with our cash. If you are upside down, the banks are very willing to sell them at a discount, they don't want these loans on their books. At the same time you will get pre-qualified for long term financing at 75% of APPRAISAL from a lender of YOUR choice. Or, we have a preferred lender we work with directly if needed. We then schedule 2 closings, our purchase of the note and your refinance at 75% of APPRAISAL. MFG is issuing temporary bridge loan for up to 1 year depending on your ability to secure long-term exit financing. If your credit isn't perfect, it's ok we will work with you.
So.....
1. You get an appraisal.
2. You get pre-qualified for a refinance at 75% of appraisal.
3. We negotiate with the bank to purchase your note at 60-70% of current note value.
4. We close on our purchase of your note becoming your new lender.
5. You close on your refinance within 30 days.
Case Study
Loan Value: $1.2 Million
Appraisal: $1 Million (Underwater by $400k)
MFG Purchase Price $680K
Property Owner Refinance $750k
End Result: Property owner's mortgage has dropped from $1.2 Million to $750k saving her $450k and now has $250k POSITIVE equity
COST: The ONLY upfront cost to you is the appraisal. After we get the appraisal we will negotiate with the bank at no cost to you.
http://bham.mfgcapitalgroup.com -- Licensed in all 50 States
Click on the "Bridge Loan Explained" link on the left and there is a short video there. And I would suggest reading the FAQ section or just call me.
COMMERCIAL & RESIDENTIAL
Hank Gross
Acquisition Manager
MFG Capital Group, LLC
xxxx 5th Ave. N.
Birmingham, AL xxxx3
1+205-614-xxxx (must dial 1+ area code even if local)