How do I save a property from an upcoming balloon mortgage when the owners do not have the payment?

In Buying Property - Asked by MOANI E. - Oct 19, 2015
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Answer(s)

Robert D.
Owner/Investor
Plano, TX

Have an investor make the payment and write a private mortgage to the owners.

Oct 19, 2015
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Carlos N.
Owner/Investor
Houston, TX

Sell

Oct 20, 2015
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Brett D.
Broker/Agent
Atlanta, GA

Refi

Oct 20, 2015
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John G.
Broker/Agent
Chicago, IL

You may be able to find a private capital group to do temporary financing/refi. Another resource would be a commercial mortgage broker that has quality lenders with different appetites for different projects. A third route would be a local community bank. The community banks are sometimes are more flexible because they know the area and may have confidence in the project and/or ownership. All three of the above will likely want a good story on how ownership intends to improve and/or reposition the property. Good Luck!

Oct 21, 2015
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Sharon L.
Broker/Agent
Torrance, CA

sell

Oct 21, 2015
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Mark M.
Property/Asset Manager
Lakeport, CA

Find a bridge lender so you have the time to get it refinanced.

Oct 22, 2015
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