Quote:
Originally Posted by raulus
I suspect that terms may vary from shop to shop, and probably over time for any given shop as they tweak their approach. But the terms I heard from PWCC are 40% LTV, 12% annual rate with a 3 month term, with 1-month extensions possible. However, they never did answer my question about who holds the option for the extension.
And I totally agree that the hedgies and private equity guys would make these loans all day long.
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Your numbers makes sense, being in the business I would warn collectors to stay clear of this proposition.