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Re: Chili Palmer post# 37435

Saturday, 08/02/2008 11:53:35 AM

Saturday, August 02, 2008 11:53:35 AM

Post# of 49486
Talk to your banker and see if he will open up. The banks are in trouble. A few have been taken over by the government and they are just starting, more to come. Very few if any are funding construction loans at this time; if you want to refi many only go 65 -70% LTV. BUT you would need great credit for cash out. You may see ads stating saying 80% LTV but I have not see any close. I get one or two calls a day from people who say XZY would not fund my loan and we were ready to sign loan docs. I have has a couple say they had signed their docs and the bank pulled the loan. BANKS are tight on funds. They have to have a running balance to cover people who are in default/ foreclosures. Anyway I would be shocked if this gets funded 60m. Anyways you stay green.


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