Vero Beach, FL
At the time that this doctor’s mortgage was about to term, the value of his collateral and real estate had significantly depreciated. Because of this, the bank denied his loan request, leaving him without collateral and without many options — until he came to ComCapFL.
Using his stock portfolio, we were able to set him up with a line of credit, secured not by his business collateral or real estate, but by his securities. (Note: the doctor did not have to SELL his stocks!) This loan, which functions similar to a Bridge Loan, allowed the doctor to free up enough cash to pay down the depreciated loan value AND refinance his property at the lower valuation with prime rates.
Surprise ending: after the line of credit and refinance, the doctor had his property reappraised — and actually got his money back!
Have an loan issue that seems impossible to solve? Call our experts today and see what kind of solutions are available to you (that the banks deny exist!)