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Land Loans - Is That a Good Idea?
We see a handful of land loans in every portfolio we buy. They aren't properties that were knocked down, but most time a borrower took out a construction loan to eventually develop that lot and was not able to fulfil that dream. And then oftentimes these loans are hugely under water because they took out a lot more to actually build the home. So there are some, some land lots that liki said i'll see all the time in these portfolios. I think i should have some loans available from my primary clients in January next year.