If you’ve been looking into the idea of making money in real estate by buying foreclosures, then you may have come across the idea of buying pre-foreclosure. Basically, pre-foreclosure is the period when the buyer is behind on payments, but the lender has yet to auction off the property. There’s a good and bad side to buying in pre-foreclosure, so let’s take a look at both.
Located in downtown Chicago, Illinois, The Columbian Condominiums are in the heart of the rich cultural and artistic life of Chicago. The condominium complex offers residents offices, theaters and boutiques. With tennis courts, running and biking around the lakefront, mini-golf and ice-skating all in Grant Park, the Columbian is close to all the active recreation one could desire. The Columbian Condo homes are an essential part of rich Chicago life, with entry to the great boulevards and Symphony Center, Millennium Park’s Dance State and Gehry Bandshell.
The Miami condo market is very diverse and offers a large number of different solutions for those interested in purchasing or renting a condominium. People from all over the world are attracted to the vibrant Miami area and its supreme climate for relocation. Miami condominiums are also popular among vacationers as well as investors. The recent decrease of the dollar value on the international market has made Miami condominiums an even more interesting option for many Europeans looking for a home away from home, a place in which to retire or just a good investment.
Funeral homes, assisted living facilities, campgrounds and other special purpose properties represent one of the most difficult commercial loan situations which will be confronted by a business owner. Unique properties are not easily understood by traditional lenders, so the most common solution involves finding a non-traditional lender for funeral home financing as well as commercial financing for other special purpose properties. Such non-traditional lenders will be appropriate for purchase situations as well as refinancing and new construction.
The use of “Stated Income” (no tax returns and no income verification) commercial loans is a critical strategy to avoid several commercial mortgage loan problems. For example, many borrowers will simply not qualify for a commercial real estate loan if tax returns are used due to high business expenses (and low net income). This article will describe what differentiates a Stated Income business loan from a conventional or traditional business loan.
Are you ready to buy your first home? Are you sick of paying rent every month when you know that you have enough income to buy a home? Take the steps to buying your first home now!
