Commercial / Residential Work Outs
Residental and Commercial property owners If you are upside down with your property have a failed modification, failed short sale that has not or cannot be funded. Are you struggling to cash flow ? Unable (or unwilling) to pay your existing debt service any longer and would like to drastically reduce your debt service AND KEEP your Commercial or Residental property, then you need to know more about some of the Commercial and Residental workouts Bridging Capital can assist you with. That are going on “behind the scenes.”
We specialize in helping over-leveraged Residental and Commercial and property owners keep their properties. The strategy is simple. We purchase your debt at a discount from your current lender and then sell it back to you. We then work out a new short-term note with the owner until he can refi us out. - saving you thousands and in some cases millions from your original debt!
Bridging Capital can possibly restructure your existing debt in order for you to survive and keep your property.
We provide short-term loans collateralized by real estate or other quick-sale collateral. The bridge loans we use are designed as an interim solution prior to the client obtaining long term financing. Design specifically for distress property owners.
The restructuring of residential Jumbo Loans are in greater demand then ever before.
Specifically, Residential loans that meet the following criteria:
• Primary Residence and/or non-owner occupancies
• Non-Conforming Jumbo Loans only… Starting at $417,000 up to $5,000,000
• Performing and non-performing borrowers
Overview of Program:
Our investment group purchases the underlying loan for Residential properties est.60-65% of current market value (CMV). Once the loan is acquired, the borrower’s principal balance is restructured (modified) to 75% of CMV, at which point, a temporary bridge loan for up to 1 year is put in place …… depending on the borrower’s ability to secure long-term exit financing. We will also assists the borrower in obtaining the permanent take out loan.
Many Commercial lenders are accepting payoffs at 40 to 50% cents on the dollar… without holding you responsible for the difference.
Deal Case Study:
A Jumbo Loan that had a mortgage for $1,200,000 was purchased at a discount and a new loan was restructured with the borrower for $800,000. In the process, the borrower kept her home, didn’t damage her credit and realized a debt reduction of approximately $400,000.
To discuss any current clients or properties that may fit these criteria or if you need additional information, please contact us at your earliest convenience.