I am seeking for a Birdge Loan. Can anyone help?
I had a 100% Commercial promised, IN WRITITNG! But I was rung around the rosey. And told to wait until after the 1st of the year.
But They are now continuing the practice of screening their calls...AKA: Disappeared.
I need this loan to hold my deal together, ASAP.
Full Version: Bridge Loan
Commercial financing does not allow for 100% LTV unless it is owner financing.
Bridge loans can be done very quickly and often do not carry any pre-pay penalties, perhaps I could help you with your needs...
BIGWORM. It would appear that you are with Kennedy Funding, is that correct?
QUOTE(Commercial LO @ Feb 8 2006, 12:02 PM)
BIGWORM. It would appear that you are with Kennedy Funding, is that correct?
Yes. It would appear that you are familiar with us...
Yes I am. There was a thread on this board regarding the business practices of Kennedy Funding. As someone else put it "interesting reading". Perhaps Loanuniverse will re-post the link provided in the prior thread.
I think I am familiar with the link. I believe it led to a lawsuite that we have against us at the moment. I've addressed that on several boards, and I would not mind addressing it again.
You tell me what large lending company in this country has never had an attempted law suite placed against them. The one currently in progress is by an individual who was hoping we would settle out of court quickly to keep our name out of circulation. We have tried to go to court about it several times and they have tried to settle out of court several times. In fact the individual suing is being investigated for fraudelent real estate activities very similar to what he tried to pull on us.
What I would like to see, and I've posted this request on several boards as well, I would like to see someone come to me with their own personal horror story that they had experienced working with our company. I often see a lot of rumors and heresay about our company but as of yet no one has come forward with their own personal story. All I ask is that they provide the name of the deal that went wrong so that I could look it up in our database and find out what really happened. I don't think that is a difficult thing to request. But to date no one has come forward.
I could even help their client recoup the money they claim to have been wrongfully earned by my company.
The truth is we are a high risk lender, we have over $300 million in loans on our books currently, and this year alone we have already closed $101 million in loans. If we were what our competitors like to refer to us as being, how could this be true.
I've heard it all, we take fees and do everything not to close the deal; we are a front for mob-related activities and all our loans are for money laundering purposes; we purposely reduce the appraised value so we don't have to close the deal; the Feds are going to be knocking down our doors real soon, and the list goes on. I'd like to hear what you heard.
If anyone were to take the time to read our commitment letter they would see that we have a clause that allows the borrower to choose their own appraiser if they are not happy with the value our appraiser came up with and we are obligated to honor that new value. Oh and by the way we use companies like CB Richard Ellis and Kushman-Wakefield for our appraisals. Would you argue with their competance?
Please take the time to visit our website and learn about who we are and draw your own conclusions, if after that you still wish not to work with us that's fine, we have been very successful for over 20 years and we will continue to be very successful for many years to come. And we've gotten that way by closing loans, about 65 hard money loans in the last year alone.
Tell me what you think...
You tell me what large lending company in this country has never had an attempted law suite placed against them. The one currently in progress is by an individual who was hoping we would settle out of court quickly to keep our name out of circulation. We have tried to go to court about it several times and they have tried to settle out of court several times. In fact the individual suing is being investigated for fraudelent real estate activities very similar to what he tried to pull on us.
What I would like to see, and I've posted this request on several boards as well, I would like to see someone come to me with their own personal horror story that they had experienced working with our company. I often see a lot of rumors and heresay about our company but as of yet no one has come forward with their own personal story. All I ask is that they provide the name of the deal that went wrong so that I could look it up in our database and find out what really happened. I don't think that is a difficult thing to request. But to date no one has come forward.
I could even help their client recoup the money they claim to have been wrongfully earned by my company.
The truth is we are a high risk lender, we have over $300 million in loans on our books currently, and this year alone we have already closed $101 million in loans. If we were what our competitors like to refer to us as being, how could this be true.
I've heard it all, we take fees and do everything not to close the deal; we are a front for mob-related activities and all our loans are for money laundering purposes; we purposely reduce the appraised value so we don't have to close the deal; the Feds are going to be knocking down our doors real soon, and the list goes on. I'd like to hear what you heard.
If anyone were to take the time to read our commitment letter they would see that we have a clause that allows the borrower to choose their own appraiser if they are not happy with the value our appraiser came up with and we are obligated to honor that new value. Oh and by the way we use companies like CB Richard Ellis and Kushman-Wakefield for our appraisals. Would you argue with their competance?
Please take the time to visit our website and learn about who we are and draw your own conclusions, if after that you still wish not to work with us that's fine, we have been very successful for over 20 years and we will continue to be very successful for many years to come. And we've gotten that way by closing loans, about 65 hard money loans in the last year alone.
Tell me what you think...
I don't think this would be a good forum to discuss those matters.
QUOTE(loanuniverse @ Feb 8 2006, 03:42 PM)
I don't think this would be a good forum to discuss those matters.
I was hoping they would email me personally. I'm sorry, I should have said that in my post.
As much as I would like to eliminate some peoples paradigms about my company, I am also sincere about working with them in trying to help their clients recoup any fees they feel they lost unjustly.
But I agree, especially for the sake of privacy, these things should take place through private messages.
-Sorry...
QUOTE(Commercial LO @ Feb 8 2006, 03:17 PM)
Yes I am. There was a thread on this board regarding the business practices of Kennedy Funding. As someone else put it "interesting reading". Perhaps Loanuniverse will re-post the link provided in the prior thread.
Thank You Very Very Much Commercial LO.
They may do a lot of loans. But they say there's a sucker born everyday.
Or is it minute?
Fortunately it wasn't me, again this time.
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