Mortgage Placement-Bridge Loans
December 2018 – Jerry Houlihan of Houlihan-Parnes Properties with its affiliate mortgage servicing company H-P Capital LLC has arranged the placement of first mortgage bridge loans for the following properties in the New York/Connecticut area:
- $550,000 1st Mortgage loan on a 4,000 square foot Diner in Yonkers on the Bronx border.
- $1,090.00 1st Mortgage Loans for two (2) houses in Fairfield County, Connecticut that will be torn down and completely rebuilt
- 1,350,000 1st Mortgage loan for a gut renovated 4-story apartment building containing 2 ground level stores and 6 apts in the Redevelopment district of downtown Yonkers, NY
- $340,000 1st Mortgage loan on a 3-family house in Fleetwood, Mount Vernon, NY
- $600,000 1st Mortgage loan for a gut-renovated single family house in Bayville, NY
All of the loans are for a 12-18 month term and were closed within weeks of a clean title report.
As an experienced private lender, Houlihan-Parnes can act quickly to close as needed. Loans are up to 2 years with flexible prepayment schedules. Funds are available for quick purchases, refinances, foreclosure exits, bankruptcy settlements, mortgage buybacks and renovations.