FL, Condo, Refinance, $250K, FICO, 62% LTV
Posted on 2/22/2016 5:46:34 PM
I don't qualify for a reverse mortgage because the building is not FHA approved. Yet the building is a luxury building, gym, pool, sauna, wine room, pool room, theater, card room, etc. It's near the Ritz Carlton in Sarasota FL.
The condo is worth $400k, we want $225k in some kind of a loan, maybe balloon, private reverse mortgage, something. 83 yrs old, about 730 credit, and about $4000 in income per month. GREAT deal for the right investor.