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Builder requires refinance after divorce

Builder who specialised in buying, moving in to live whilst renovating exclusive luxury capital city homes.  He was 75% through a massive restoration of a home in which he and his wife were living when the marriage broke up.  As part of a property settlement he needed to pay his wife a substantial amount of money for which he needed to refinance the property.

Traditional Conforming and Non-conforming lenders would not provide funding as the Security property was incomplete and the Borrower had no income source other than from the sale of the property (which would have been a disaster on a forced sale).

Eastwood Securities provide the required funding to refinance the existing mortgage, pay property settlement amount to his wife and complete the substantial renovations.  Interest was capitalised allowing improved cash flow until the property was completed and sold for substantial profit.

This allowed the Borrower to take his substantial project profit and move on to the purchase of his next venture.  By now he was back to being a Bankable proposition.

Refinance Loan