Balloon Payment Threat

  • balloon payment refinance
Balloon Payment Threat2018-09-19T17:29:18+00:00

Project Description

A retail store owner who is also a homeowner in Kensington, came to me looking to refinance. His home loan had a balloon payment that was coming due. The stakes were high: he needed to refinance soon or he could potentially lose his home. The current lender was poised to repossess.

His tax returns did not show the net income required to qualify for a conventional loan.
Using a CPA-certified profit-and-loss statement for the last two years, I was able to get him refinanced into a more stable loan at a lower interest rate. Thus, this business owner, and his wife and kids, were able to keep their beloved family home.

Project Details