$7 Million Loan
Our client specialized in low income housing and owned numerous multi-family properties in states. He found himself in foreclosure on several of his properties because his bank was taken over the FDIC and therefore cut off his lines of credit, significantly hampering his ability to stabilize his properties. For these and other reasons, his credit reports disclosed numerous judgments including two in excess of $1,000,000 each. Because our client was very “upfront” about his issues, National Equity Funding helped negotiate discounted payoffs from his lenders then procured more than $7,000,000 in funding to enable him to complete his remodeling projects, stabilize his current properties and purchase additional properties.