90% Home Equity Loans
Investors are always struggling with finding banks who understand foreclosure investing. My investors tend to have great success with Banks who understand my process. The reason? I spend countless hours meeting with banks and appraisers to explain our program. After nearly 8 years in the business our track record speaks volumes. At this point, we have banks competing for our business. Currently we have several banks that will provide my investors a 90% home equity loan on investment property. This program is VERY competitive in a VERY conservative market. It’s important to understand our process and experience when working with banks and appraisers. No matter how much success we display, appraisers tend to be conservative in order to protect themselves. My front end research regarding comparables should more than justify our numbers. In any market, good or bad, we do our homework on the front end to justify our values. Every house we send out, will come with comparables homes that have sold recently. Many appraisers will need to see these comps and consider them when preparing their appraisal. Many appraisers will mistakenly provide comparables that were also sold in foreclosure. This is an extremely common and a grossly inaccurate practice. Appraisers need to consider the rehab that was done to the property. They also MUST look at recent, sold comparables. When these 2 things are considered, our process is very accurately displayed through the appraisal. If you ever have an issue with an appraisal, call us! We will fight on your behalf to defend our accurate values and assist you with the explanation of our values to the appraiser. We can also refer you to appraisers who have experience with foreclosures. If a retail (often conservative and inexperienced wtih foreclosure) appraiser is involved, the appraisal will inevitably be inaccurate. I highly recommend using an appraiser with foreclosure experience. Call us for the name and number anytime you are working to cash out refinance a property or obtain a home equity line.