Hard Money Lenders | Private Mortgage Lenders
We lend in all 50 states
Increase Liquidity & Profitability
Do you have one or more commercial mortgage notes you would like to remove from your portfolio for liquidity and profitability reasons? Private Mortgage Financing Partners can provide a solution for your institution. As a private mortgage lender, we purchase commercial mortgage notes. We will pay up to 100% of the outstanding balance but it varies based on the LTV and other circumstances. We are interested in situations where we can work with the borrower to either do a note modification or provide the borrower with enough time to sell the property. As an alternative to purchasing the existing note we will often originate and fund a new loan and payoff the existing mortgage note.
Over the past 7 years, we have purchased multiple defaulted notes from financial institutions. A few examples of recent note purchases follow:
• Purchased $3.3 million note from an Illinois bank secured by 2 auto collision
shops in Casa Grande, Arizona and Maricopa, Arizona. Note was in default as to
payments and working capital requirements. Worked out loan modification with borrower.
• Purchased $1.15 million note from Chicago bank secured by a golf course in
St John, Indiana. Note payments were current but note had matured and been extended
twice and lender no longer wished to hold notes in this sector.
• Purchased $975,000 note from Houston bank secured by a restaurant
facility and empty office building in Houston, Texas. Worked out forbearance with
borrower allowing him time to sell the properties.
• Purchased $455,000 note from Chicago bank secured by a restaurant / bar facility in
Joliet, Illinois. Borrower wanted to sell the property but needed restructured liabilities to
effectuate the sale.
• Purchased $500,000 note from a private individual who owner-financed the sale of a small retail center in Pinehurst, Texas.
As you well know, the financial landscape fluctuates rapidly. You may not have a need today, but by contacting us for further information, your organization will be prepared for tomorrow with a better alternative. We welcome the opportunity to answer any questions and provide further information regarding our business and references.