Recently Funded Hard Money Loan – Burbank: $715,000, 1st TD, 65.90% LTV, Lender Rate 11.25%
Real estate investor sought a business purpose cash-out 1st TD on this non-owner occupied investment property in Burbank in LA County. Funds from our loan will be used to payoff an existing 1st and a 2nd TD which is in default. The borrower lost his job last year and fell behind in payments, and…