Tenancy In Common financing problem with more than 4 units
According to the Sunday San Francisco Chronicle, Carol Lloyd, staff writer, posted an article on the troubles of a couple trying to get rid of an adjustable loan after buying a TIC in a 10 unit building. Apparently anything over 4 units requires a commercial loan which triggered higher interest rates and required a higher loan to value ratio. Although it seemed like a good idea at the time, now the couple is having major concerns. Read their story here.- Mick Orton
posted by SFResidence.com @ 1:53 AM
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