private 2nd mortgage

Financing, Hard Money Lenders, Private Money
1

Hi, my name is Craig Thomas and I am a self employed design build contractor/service. As many know it
is very difficult to stay ahead of the game. I am an owner of a
single family residence in Concord, NH valued at over $320,000. I
currently owe $258,000. There are no 2nd mortgages on the home, only
the original mortgage. I am looking for a private 2nd mortgage for
$50,000 - $60,000. I am willing to pay as high as 20%. I have a
prospering business but am currently saddled with some business debt.
My personal credit among “institutions” is not good (480-490) at all but among
my vendors and services is very good ( I pay my business people before
I pay my self). My existing mortgage is current with only 1 late in
the last 12 months. I have been a 20 year resident of my community, 20
years married and a family of 5 children. Not looking for a handout,
only a chance to get back to even keel and continue to grow my
business.

How would I find a private investor that is willing to help? Thank you.

2

This amount can be reduced to $30000 - 40000 if need to meet LTV. I am looking to do this ASAP.

Note: if someone is interested in this, I also have an option on a piece of land in Loudon, NH with a 6 bedroom septic design and building permit in hand. I’m looking to build a spec house on the property. The property is going for $150,000 but the owner will negotiate and I’m looking to build a $200,000 - $250,000 home.

3

Wow - tough board

4

If you would like to give me call, I will be happy to discuss this with you.

5

Thanks everyone. I’ll probably lose the home. :cry:

6

I am not licensed in NH however I know there are some select lenders who will refi. based solely on mortgage history ltv and dti.
Look for a good broker in NH who is aware of these programs…maybe they can help.
Best of Luck!