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    0 Replies Latest reply on Jul 9, 2008 11:01 AM by Squeeze_40

    Need loan to consolidate debt and upgrade rental property.

    Squeeze_40 Newbie

      I am still in search of a loan to consolidate debt (my mother's and my own) as well as make major improvements to the current property.

       

      The property is a 6 unit apartment building located in Jersey City. The estimated value of the property is approximately $450k to $500k. In addition to being a rental property, it also serves as a primary residence to both my mother and myself. There are four (4) persons on the deed to the property: 1) My mother for whom I have durable power of attorney for all of her business and financial matters and 2) my sisters who have already agreed to applying for this loan. They will have no problem signing any waivers in regards to this loan if necessary.

      We are looking to obtain $175k to $200k after payment of my debts. This loan will be used to pay my mother's debts make the needed improvements to the residence. Any assistance would be greatly appreciated.