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Hard Money Commercial Loan

Quick Close Second Mortgage

Financial Compound arranged a $400,000 quick close hard money commercial loan on the borrower’s primary residence. This business finance loan was structured to take the borrower out of Chapter 11.  He filed for personal bankruptcy as a result embezellment and stolen funds from his business by one of his employees, which did not come to light until a forensic audit was performed the subsequent year, resulting in deteriorating business cash flow for two years so that the borrower did not qualify for a conventional home loan.  His business lender had also filed a notice of default. The proceeds of this second mortgage home loan were used to get current on his business finance loan.  This transaction represents the type of commercial mortgage modification

Loan terms include a 12% interest-only rate, 5 year term, no prepayment penalty.  In addition to residential hard money loans, Financial Compound is a commercial mortgage broker with a longstanding successful track record of processing and closing hard money commercial loans.  At times a hard money commercial loan on an unrelated property can be utilized to raise cash when the borrower is in default on his business finance loan