Posted on: 25th Nov, 2009 09:47 pm
I have a lien that was issued by a S. carolina county office and is backed by residential community lots (developed area with no house). I have put cash down for these liens but wish to finance them for future purchases of liens. Are there any lenders that anyone knows of that does this sort of financing? Its not typical collateral, but it doesn't fluctuate in market value and has a cash flow associated with it.
Thanks
Thanks
I doubt whether lenders would be ready to finance such properties. If there is lien on a property, lenders generally do not finance it. The borrowers have to pay off the lien first in order to get a loan using that property as a collateral.