$800,000 Blanket Mortgage – Three multi-family properties in Port Chester, NY
A young real estate investor came to H&O Capital Funding looking for a loan across two properties in Port Chester, NY. The investor currently had a blanket loan across all three multi-family properties he owned and was hoping to refinance and keep one of the three properties free and clear. Unfortunately, because of some IRS and State tax liens that he was looking to pay off, the numbers just didn’t work and he ended up including the third property. H&O Capital is understanding and has given the borrower release prices in case the investor decides to pay down the mortgage in the future. At the closing, the borrower raved about H&O Capital’s flexibility and ease to deal with. Despite delays on the negotiated tax lien payoffs and a few other hiccups, H&O was able to close the deal in just three weeks.
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