$340,000 First Mortgage – Mixed-Use Property – Bronx, NY
H&O Capital Funding was contacted by a local broker with a client down in the Bronx who needed some quick funds. The borrower used a mixed-use property with four apartment and three stores (one occupied by his business) as the collateral for a small loan for a cash out to pay some other debts he had accumulated. There were a couple of legal hurdles that had to be dealt with prior to closing but, despite this, it only took H&O Capital three weeks to close the loan.
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