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Nesgroup address: misc.invest.real-estate - Date & Time for the message: 18 Apr 2005 13:13:02 -0700
/ Author of the message: steelvest@hotmail.com |
Title of the message: |
Re: Letter of Credit Help Please
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Text of the message: |
LCs have NOTHING to do with credit scores! They are based upon hard collateral and/or liquidity. Also, they are standyby instruments generally not meant to be used - BUT if used the lender/issuer can call/sell the collateral or oterwise demand payment. Forget pledging IRA's - that's a "prohibited transaction" that will get you ass in a sling! Cash value from insurance can be secured and pledged - IF the lender will take it. A line of cedit (say secured by a blanket second lien on imcome properties - with release fees) could be used to support a letter or letters of credit. When you iuse the revolver , yoiu generally pay interest on the outstanding principal balance(s) and a 1% fee per you on the maximum line amount. SteelVest > > Is it customary to require such a high level of collateral even for > customers with excellent credit? > > What are "qualified securities" that typically be used towards |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.