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Partial Release of Property from Mortgage for Corporation Illinois Form

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Partial Release of Property from Mortgage for Corporation Illinois Form

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second position mortgages guys um I get a lot of requests for these and I kind of want everyone who watches this to understand uh how is exposition mortgage is going to be safe so generally speaking when you're behind a first position mortgage uh this senior debt as it's called if they foreclose they get paid first and if there's anything left over then the second gets paid so it's a riskier loan so when people kind of you know the Facebook groups and Bigger Pockets say second position secured by real estate it's not that simple that being said if you want a second position mortgage and you're doing investment or commercial stuff the things we're going to want to see or we're going to want to see a clear Exit Plan we're going to want to see that the property debt Services there's got to be a way to pay that debt um and we are going to want to see the LTV not be leveraged at 100% so generally 10 to 15% left

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