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Bad Credit Home Loan for $1,000,000 in Los Angeles, CA – Hollywood


Well this is certainly one of the unusual home loan applications that we have received in a while. Essentially this applicant is self financing his own film production and has run out of cash. He has turned to his current lender for further financing who will not loan him any further funds due to his poor performance on meeting the terms of his current home loan.

He has two options; A) refinance his home to obtain additional cash to put into this movie or B) sell a portion of the rights to the film in return for cash to help him finish the movie.  He is reluctant to pursue scenario B since he may have to give up some of the control on the editing and distribution of the movie. This is his baby and he does not want to let it go.

Financing movies is a very specialized area and not many lenders are able to or willing to get involved in this area of business. Consumers with bad credit ratings also have a very difficult time finding lenders to lend them money regardless of what the reason may be. This one is more difficult due to his bad credit rating and the rather large size of this home loan.

Before any decision can be made on this application, the client’s home will need to be appraised and additional information provided concerning his employment and income. If the information provided is accurate and his home is worth more than he is borrowing, some lenders may be interested in approving this loan. This application will take a little time to review and confirm particularly due to the rather large amount of $1,000,000 being discussed.

Bad Credit Home Loan for $1,000,000 in Los Angeles, CA – Hollywood

LOAN INFORMATION

Home/Mortgage Loan Amount :: $1,000,000

Home Loan Application and Processing Speed (when do you need the funds):: we need this loan approved very quickly since our current mortgage company is threatening foreclosure

Do you currently have a mortgage? :: yes, on the current home for $750,000

Bank Name and Branch :: Wells Fargo,S Spring St, Los Angeles,

What City/Town, State and County do you live in? :: Los Angeles , California

Zip ::

What is your employment field? :: 90013

Employment Position :: Film producer for a privately held company in the LA area

When are you paid? (monthly/weekly/biweekly):: monthly

Your credit rating to be – excellent, fair, or bad? :: bad due to problems with payment of monthly payments

How did you find us? :: Searching for companies that will provide financing for mortgages and film production costs.

How are you paid? (direct deposit/paper check):: Direct deposit

Gross Amount Per Paycheck ::$12,000

Do you agree to have this information published online, without your PRIVATE information of course? :: sure as long as the name of my company is not published. I do not want anyone to know that the film I am working on could be in any difficulty

Extra information here please (some detail):: this will seen like a rather strange application for a jumbo loan on a home. I own a very nice home and have borrowed extensively on it to finance a low budget movie that my wife and I have been working on for some time. We are in the final stages of editing. All of the filming is completed, the actors are on their way to other films and now we just need to have the film professionally edited and prepared for distribution. We have great reviews so far and expect that this film property will easily turn a profit. What we have here is a cash flow problem at the moment.

My solution is to borrow further against my home to complete the film and then pay the mortgage off from the profits we expect to make. I did one thing that was really stupid and that was that I stopped paying the mortgage on our home to try and make more cash available for this film. Now the existing lender wants to foreclose and will not entertain any further loans to us. The house has been appraised well beyond a million due to the area that we live in so there is no problem with collateral etc. We are doing everything we can to get this movie to a point where it can be released and begin earning revenue. I own 100% of the rights to this film.

Note to Lender :: my company pays me really well and I can easily afford the monthly payments. My company is not involved in the production of this film. This is something I am doing on the side and using outside resources to complete the filming and editing etc.  My last resort will be to sell a share of this film to my company or to another firm that may be interested in participating in this film.

This is really a last resort since we want to finish this on our own without sacrificing ownership and any control over editing and production. Hope this all makes sense and you can see your way to approving this bad credit home loan.

Category: Home Mortgage Loan APR 2.665% APR 3.2% APR 3.375%
Loan Principal $1,000,000 $1,000,000 $1,000,000
Payment Schedule Monthly Monthly Monthly
Length of Term 15 25 30
Amount to be paid $1,201,197.94 $1,321,316.27 $1,507,363.99
Total interest paid $201,197.94 $321,316.27 $507,636.99
Paid per installment $6,581.91 $5,430.07 $4,130.51
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23 Pre-apps

  1. David wrote:

    Mid-June we bought a beautiful river front foreclosed property on the Braden River, FL. It was a cash deal so we had to pull out all of our savings including our IRA’s. We have found a lender who will give us a lot loan but their turn around process is longer than we can afford if we want to return our money to our IRA’s. Looking for a 60 day loan where we can have the money by August 15th….that’s when the 60 day window closes. Thank you to any one who can help.

  2. jeff wrote:

    I am looking for a large loan,60 to 80 thousand dollars. The loan would be used to consolidate other loans and credit card. I would also be using some of the loan to pay fees for refinancing home. I have six figure income and live in the state of Missouri. Is there is someone out there that can help. Thank you

  3. WILLIAM wrote:

    MONEY, TO WORK ON MY HOME

  4. Jesse wrote:

    i’m Jesse Steven Evans. i get $750 per month equalin $9,000 per year from social security with no bills. what’s THE maximum loan i’m eligible for to buy a home?

  5. Shane wrote:

    I need 10 grand for the lender my house and property I like to get for 1.5% and a unsecured loan for for at least 10 years come on fixed income trying to build my credit back up I need points

  6. Dustin wrote:

    I would like to purchase an house, I would like to borrow 40,000.00, my credit score is around 580.

  7. Sandra wrote:

    What i do in my spare time is looking at houses for sale anywhere in america and i dream of owning my own place. i have lived with family throughout my life never having a place of my own i work hard at customer service but don’t make much money and my credit is in the low 500’s so getting approval is nearly impossible. However i have found the place that i would love to call home it is a beautiful little house in NC close to the ocean for only $17,999.00 Please

  8. John wrote:

    HELLO SIR.

    I NEED TO BORROW $55,000.00 LOAN IN ORDER TO PAY FOR THE BANK SERVICE CHARGE FOR FUND MY
    CRUDE OIL REFINERY PLANT PROJECT. I CAN USE MY HOUSE EQUITY AS COLLATERAL. THE HOUSE VALUE AT $250,000 THE HOME MORTGAGE BALANCE IS $114,650. THE EQUITY VALUE ABOUT $135,000
    BEST REGARDS, JOHN CHUNG

  9. Anthony wrote:

    i want to buy a house from 70,000.00 to 100,000.00. i am a first time buyer and need to get per approved.

  10. Michele wrote:

    I need to borrow 20.000 or I will lose my house this week I have equity. I need a loan help

  11. Rob wrote:

    i need to get 20000 to buy a home that needs very little work I am disabled and had to take a bankruptcy when i first got disabled my credit rating is now bad i do draw a small disability check but when i apply they tell me the loan is to small for home loan and my credit score is to low to get a personal loan. I wanted to buy this house so i could pay the note due to low amount and low amount of work needed but i quess it is now gone and so are my chances of ownership guess i will spend rest of my life living with parants until they die and they throw me out on street

  12. R wrote:

    I DESPERATELY NEED $24,000 TO BRING MY HOME MORTGAGE PAYMENTS CURRENT. FORECLOSURE LOOMS VERY SOON. PLEASE HELP.

  13. R wrote:

    WE ARE 7 MONTHS BEHIND IN MORTGAGE PAYMENTS AND HAVE RECEIVED A FINAL ‘notice of default’. WE FELL BEHIND DUE TO AN UNUSUAL HIGH EXPENSE AND WERE NOT ALLOWED TO MAKE PAYMENTS AFTE 3 MONTHS ARREARS. WE CAN MANAGE NORMAL MONTHLY MORTGAGE PAYMENTS BUT NOT THIS LARGE LUMP SUM. WE HAVE LARGE EQUITY IN THE PROPERTY AND DO NOT WANT TO LOSE THAT. CAN SOMEONE HELP US?

  14. Juan wrote:

    i can pay monthly note at least 600 per month

  15. vicki wrote:

    8,000 asap to pay off balloon note. Live in Rockaway beach mo. Haven’t been late and payment came right out of checking account. My credit score is around 620

  16. Don wrote:

    I live in Home / Farm in Missouri
    Foreclusure that has been sold to US Bank
    I have an Attorney that has set trial by jury for July.
    US Bank wants to settle for $85,000.00 cash.
    Home is worth $160,000.00.
    Hoping for finance of $85,000.00 for 2 years until I can secure better financing.

  17. Raymond wrote:

    im in need of this to protect the home ive been trying to obtain since I got divorced and went though cancer twice the person who owns the house lives out of state and wants to get out of it and we were trying to buy it on a land contract but now he wants to sell it out right and we have been here going on 4 years now that’s me and my daughter I’m looking to get 70 k and can pay back like 550 monthly

  18. Raymond wrote:

    I’m looking to obtain 70k to purchase out the home ive been in for 4 years the reason behind this is a divorce and went though two bouts of cancer the property owner lives out of state and would like to get rid of it

  19. Floyd wrote:

    i am trying to borrow enough money to purchase a fixer-upper home

  20. Angela wrote:

    Hi I am requesting financing for a new home purchase for family.

    Asking $379,000
    Pay back in 30 years or sooner.
    Monthly registered nurse salary is $ 70,000 plus $1580 per month from the Veterans admin. Unable to use Va loan due to Chp.13 that will end in May of 2019.
    Also work perdiem in hospital making $33/ hr. Credit in low 600’s.

  21. Angela wrote:

    Hi, just applied yesterday . But forgot to include some important info. I am located in N.C.I have found a town home that I would like to purchase which is $299,000 , less than my prior request. I do not qualify for a reg.mortgage loan at this time.

  22. Tasha wrote:

    I need help with financing to purchase a home for my family and my parents to stay in together. My dad is 81 years old, 6’4″, and his health is declining. My mom is 76, 5’6″, and she has to bath my dad, help him in and out of his walker, cook, wash going up and down the stairs. The house is not feasible for them, and if there is a fire, my dad would not be able to get out because we have no ramp. My dad is a good man. You see we moved back home to help them out back in 2010 because my mom became ill, but ends up, we became a burden because jobs are hard to secure here. Let me go back though. After my mom got better, my dad got sick. It started with a diabetic ulcer in 2014, the size of a half dollar. This doctor he got continued to hack and cut until the bone of his foot pertruded through his foot. His bone became infected so they put him on an antibiotic that caused his kidney to fail. He only had one to begin with, so they placed him on dialysis, and recommended amputation of his foot. My dad said he wants to die with his legs, and decided not to have it removed. He asked the doctor if he cuts it off that there is no chance it will heal,and if he keeps it, there is no chance it will heal. He decided to keep it, and I have been caring for it ever since. It has healed extensively, but he has a new sore that has developed. But lately, he’s been falling because doctors convinced him if he stays off of his foot, it would heal better. My dad hasn’t walked or been in a shower in 4 years. He has lost his ability to walk. My dad and mom have been helping my husband and I since we got here. They have ran up all their cards, and taken out loans to keep us afloat. You see my husband was in a car accident in 2016, he had not too long taken on a good job, and was rear ended on a highway at an excessive amount of speed, and the other person who hit him passed away due to the accident, and had no insurance. My husband suffered a severe back injury that causes him not to be able to work. We all have been through a lot. All I would like to do is get us all in one home, and help my mom care for my dad, and be able to cover his mortgage until his house sales. I want us to be able to help him for a change. My brothers have their own lives, and talk of putting him in a nursing home. My dad explicitly let it be none that this is not his wishes. I am trying to honor that, and my husband is even willing to do so as well. All I want is financing to help purchase the new home, and cover the mortgage on the old home until it sales. If there is someone that can help us to become one big happy family, that would be awesome!!! We all have income.

  23. jonathan wrote:

    Looking for $100,000 for a home. Expected to pay back in 15 or 30 years. Would like payments to be $1,200 a month. I have a credit score in the 500. I make $76,000 a year.

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