A Foreclosure Exit + Crazy Financing - #286

🎙️ In this episode of the Private Lenders Podcast, Chris and Jason break down a rare foreclosure exit that turned into a successful (and slightly wild) deal.

They walk through:

• How another lender originally funded the property with an overvalued $1.2M construction loan

• Why and how the project went into default and foreclosure

• What it was like to actually take the property back at auction (a first in DC for them!)

• The resale strategy, pricing journey, and working with a wholesaler to close the deal

• And most shockingly… how the new buyer financed their purchase with over 100% leverage 😳

This episode is packed with real-world lending lessons—what went right, what went wrong, and what every private lender should consider before making high-leverage loans.

💡 Key takeaway: A win on a foreclosure doesn’t mean the next lender’s doing a smart deal. High leverage might just be hurting everyone involved.

👀 Stay tuned for the next episode, where we dive into DSCR rental loan shakeups and some eyebrow-raising fraud alerts in the non-QM lending space.

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Are you a new or experienced private lender or hard money lender? Join Jason Balin and Chris Haddon from Hard Money Bankers as they draw from their extensive experience running a successful hard money lending company since 2007. Tune in weekly with episodes related to all aspects of private lending. From discovering lucrative loan opportunities to securing private capital, effectively managing your loan portfolio, handling defaults, and much more, we've got you covered.

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