Expert Problem Solver - This Doctor still makes house calls!
one can close so quickly, and also provide long term fixed rate financing.
Until now, if you had a difficult property financing request
or if you felt your property had been ignored or "redlined" by banks,
the only solution was to use expensive short term private lenders.
is why we created our direct private lending division. We are the solution
when you need a fast closing where the property is located in a less
than desirable neighborhood. Being a broker is not enough.
uses its own capital to finance "unconventional" & unique opportunities
that "fall through the cracks" of institutional sources.
DoctorMortgage®™ has stopped foreclosures
successfully closed a deal for desperate owner of a Harlem, New York City
property who had been paying 18% interest. The mortgage on her apartment
building was coming due, and her private lender threatened to foreclose
upon maturity of the balloon mortgage.
The property had 90 non-safety violations, and although she corrected
them, city agencies never
come to inspect or remove them. She and her husband had excellent credit; nonetheless, these minority
owners had been rejected for financing by numerous sources.
met the challenge, by funding this mortgage directly. Now this property owner enjoys stable, long term 30 year fixed
rate, self-liquidating financing without any balloon risk. They have come
and borrowed on numerous occasions, including one time that
arranged the sale of one of our other client's building to
them and provided their acquisition financing as well.
DoctorMortgage®™ provides cash-out
A minority owner of a Mount Vernon, New York property, enjoyed long term ownership
and positive cash flow but had previously been denied refinancing to tap
into the equity of his property.
reviewed the historical income and expenses of the building's tax returns,
as well as the good credit of the owner, and determined that permanent financing
would benefit the principal.
Additionally, the owner recognized that "cash out" is a "dirty word" to
most banks; without
commitment, he might not otherwise have been able to use his property's
large equity. The time was right to use the $200,000 of surplus financing
to buy another property that he previously could not acquire.
This deal was made through
a broker that called Doctor Mortgage. As direct lender or as financier,
protects and pays referral fees at closing to licensed real estate brokers
so quickly the buyer got a discount
owner of many Manhattan investment properties wanted to finance the acquisition
of an East Village, Manhattan apartment building. This buyer had been negotiating
for several years and he would enjoy a below market price, only if he could
The organized purchaser completed our application, and requested a "conditional
commitment" to show the seller. The
commitment was issued and the professional reports were ordered the same
day. We closed the mortgage in only 7 days from receipt of completed application
The investor enjoyed a price reduction for closing so quickly.
When the going gets tough, Doctormortgage®™ gets
you to the closing tabe
bank's appraisal turns out to be disappointingly low far below what would
have been necessary and the buyer did not have enough cash to
complete the purchase of the property.
spoke with the bank which ordered a revised appraisal. The transaction was saved.