Here’s an interesting one from Ohio:
My wife has a four unit home, storage units and workshop on 5 acres with a pond in Philo, OH. Our family is looking for a $45,000 to $50,000 interest only loan with a balloon payment due in two years or upon the sale of the property (whichever occurs first). There are no liens on the property as it is owned with 100% equity. Our credit is poor and that is why we cannot qualify for a traditional home equity loan at this time. Funds will be used to repair credit, complete renovations, and personal use.
Will you please consider loaning us $45,000 to $50,000 knowing that there is plenty of equity in the property and that we do not live there?
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