03-15-2011 07:36 AM
gold client...loan of like 160k vs appsd value of over 400k....
client unfortunatly allows his siblings to park their dmv licensed manus on the 19 acre parcel he has (obviously no value given)...hence makes it non conforming prop for fannie mae (tried 10 places)....however 1 portfolio place would do but not licnsed in oregon
03-16-2011 10:57 AM
That's a LTV of at least 2.50. I imagine there is a lot more to the situation because you should not a problem at all securing a loan. Even Hard Money would give you a deal