$1,300,000 Blanket First Mortgage – Multi-Family Properties in Yonkers, NY & Hartford, CT
In this deal a repeat borrower with H&O Capital Funding was back for another loan on some new properties he recently acquired in Hartford, CT. The borrower purchased a note that was in default on 5 multi-family properties up in Hartford, CT. After going through the foreclosure process, taking possession of the properties and doing some minor renovation work, the borrower reached out to H&O for a cash out loan as he has some new deals in the pipeline. For additional collateral the borrower put up a 3-family home in Yonkers, NY that he owned free and clear. H&O was able to close the loan in under three weeks, freeing up cash for some new year deals the borrower was looking at.
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