Utilize the equity in your home to help pay off the remaining years on your mortgage. This is done by using your existing equity to pay off your remaining equity. The cash you take out of your home will be used to help pay off your existing mortgage within a two year period.
You will originate a brand new mortgage loan. Arbitrage Business and Loan will not review your credit or income statements to perform this service. Your bank of choice will determine your creditworthiness based on credit score, tax returns and financial statements.
After you have originated a new mortgage with your bank of choice, Arbitrage Business and Loan will utilize the proceeds from this new mortgage to service the new mortgage as well as your old mortgage over a two year period until it is completely paid off.
At the beginning of the contract between Arbitrage Business and Loan & the homeowner, a one time fee will be collected in the amount of $6,000 per $100,000.00 promised to be paid. For example, if you took out a new mortgage of $200,000, Arbitrage Business and Loan will pay back $200,000 plus interest toward your new mortgage and pay $200,000 toward your old mortgage over a two year period. No additional money from any external sources can be added to the Arbitrage 2nd Mortgage Program. We will only work with banks and financial institutions to secure funding for this investment. The maximum loan amount to be accepted by Arbitrage Business and Loan’s 2nd Mortgage Program is $400,000.00.
What is the difference between the HELOC Arbitrage Advantage program and the 2nd Mortgage Program?
In the HELOC Program, half of the funds are given to the homeowner and the other half are given directly to the bank. In the 2nd Mortgage Program, all of the funds are given directly to the banks holding the first and second mortgages. The HELOC program is paid out over a period of 5 years, while the 2nd Mortgage Program is completed within a 2 year period.
What would be the advantage of the homeowner giving Arbitrage Business and Loan the equity from their home?
Your home is an asset you can utilize to provide you additional realized monthly income. You continue to occupy and own the property while Arbitrage Business and Loan helps pay off your mortgages.
How is the loan paid back?
Arbitrage Business and Loan will provide monthly payments to the banks for a period of 24 months. The amount paid toward each mortgage will be at a fixed rate. The promised amount will be paid within a 2 year period.
Should Arbitrage Business and Loan be unable to pay both mortgage from profits, Arbitrage Business and Loan will return the remaining balance to the second mortgage lender from the original funds deposited. If Arbitrage Business and Loan is no longer able to invest funds, payments to the first mortgage lender will no longer be provided.